Month: November 2022

5 Holiday Shopping Behaviors Brands Should Prepare for in 2022

This holiday season, brands face particular challenges because of today’s volatile business environment and dramatic shifts in consumer behavior. While the holiday season brings significant revenue opportunities for businesses, how they navigate these changes will determine their success. 

 

This guide highlights new customer shopping behaviors, the factors contributing to these shifts, and what your business can do to prepare for this year’s holiday shopping season.

Factors Affecting Customer Holiday Shopping Behavior This Year 

The effects of the pandemic heavily influenced holiday shopping consumer behavior in 2021. As businesses transitioned to digital platforms and consumers turned to online shopping, e-commerce experienced massive growth. When comparing holiday shopping behavior in 2020 versus 2021, it’s clear that online shopping and curbside pickup options were essential to shoppers.

 

Is this still the case for 2022? Let’s look at the top contributing factors affecting customer behavior this year. 

 

  • Increasing Cost of Products: As inflation rises, selling prices will likely increase for the rest of the year. As a result, consumers may buy lower-priced items to ease the strain on their wallets, particularly when shopping for products with a high substitution rate. For example, if beef becomes too pricey, consumers may shift to buying more chicken.
  • Supply Chain Disruptions: Pandemic-induced inventory challenges have made shoppers more willing to switch brands. Retailers mitigate this risk by preparing their products early and investing in supply chain technologies and solutions.
  • Omnichannel Shopping: Shoppers are purchasing across different platforms, and social media influence is heavy among younger consumers. Social commerce is growing in relevance, presenting a new opportunity for businesses. 

5 Holiday Shopping Behaviors to Watch Out for in 2022 

To help your business navigate this year’s holiday shopping season, we’ve compiled the top customer behaviors to anticipate in 2022. 

1. Early Shopping Season 

Inventory issues, supply chain disruptions, and inflation have shifted customer behavior around the holiday calendar. Customers will shop earlier to combat potential price hikes and avoid shipping delays. 

 

According to Salesforce Research, 42% of customers worldwide and 37% of US consumers plan to buy gifts earlier. To take advantage of this trend, brands can launch their holiday deals earlier and leverage cross-channel marketing to reach customers across all platforms. 

2. Social Media Influence on Shopping Behavior 

In the season of festivities, consumers are turning to social media for shopping inspiration. Social media’s unique mix of ads, content, and creators is increasingly affecting the buying decision of consumers. The holiday season is a prime opportunity to leverage creator marketing and social media advertising to drive sales conversions.

3. The Rise of Social Commerce 

Social commerce is rising in popularity as a convenient way to purchase products through social media. This trend continues to influence online shopping customer behavior, with more than half of US adults purchasing through social media this year. This holiday season, social commerce will most likely contribute to sales revenues.

 

Video content is vital for social commerce, with more consumers using videos for shopping research. Creating effective social commerce strategies on your brand’s existing social media platforms is key to leveraging this trend. 

4. Price and Value Over Quality 

Rising product prices and inflation will drastically shift holiday shopping behavior. To save money, customers base their purchase decisions on price rather than quality. 

 

They will actively seek discounts and better deals to match their current budgets. Brands can stay competitive by crafting pricing strategies that match their customers’ unique preferences. 

5. BNPL (Buy Now, Pay Later) 

Consumers are more likely to seek BNPL options to manage their cash flow this holiday season. Considering the effects of inflation on the price of products and services, the advantages of BNPL are more compelling than ever. Brands can consider adding BNPL to make their offerings more accessible to consumers. 

How Your Brand Can Prepare 

Shifting holiday shopping behaviors encourages brands to rethink their marketing strategies to remain competitive in the market and capitalize on this critical time of the year. We’ve compiled key tips to help your brand prepare for the holiday season.

1. Create Robust Online Campaigns

As online shopping and social commerce become part of the norm, it becomes imperative for businesses to create effective digital campaigns to establish their online presence. Leveraging the power of social media, video content, and creator marketing is crucial to stay ahead. With YouTube recently being named the most trusted platform for social commerce, this highlights an opportunity for brands to use it to educate their customers and drive revenue. 

2. Incentivize Early Shopping 

The fear of price surges and inventory stock-outs will encourage shoppers to start their holiday shopping early. They will expect early discounts, deals, and marketing efforts from brands. Meet your customers halfway by beginning promotional efforts early and communicating with them actively on social media platforms. 

3. Create Customized Experiences 

Leverage the power of data and analytics to reach out to your customers. Contextual targeting can help your brand offer personalized customer experiences and promotions. Leading third-party companies like Channel Factory help brands create optimized and targeted advertising content to maximize investments and drive conversions. 

Optimize Your Marketing Strategy by Partnering with Channel Factory 

The current business and economic landscape are shifting holiday shopping behaviors, and brands that don’t adapt will miss out on critical opportunities. Don’t let this be the case for your brand by partnering with Channel Factory today. 

 

At Channel Factory, we specialize in contextual targeting to known demographics, helping our clients to reach brand-suitable audiences and boost sales. Reach out to get started today!

How to Build a Brand on YouTube—Tips for Success

YouTube is filled with channels that educate users, review products, and dazzle viewers with a variety of entertaining content. The competition’s fierce, but it’s worth the effort to build your presence and attract your unique audience.

With 2.476 billion users in July 2022, YouTube is second only to Facebook in the number of active users. 

To grab the attention of this vast audience, you need to learn how to build your brand on YouTube. These tips will help get you there.  

Branding on YouTube vs. Other Platforms

Your SEO, titles, and descriptions are important, but with YouTube’s emphasis on videos, it’s equally important to make your visuals truly captivating. Keep the following in mind:

Be Consistent with Your Graphics—Especially Video Thumbnails

Make your banners, logos, and profile pictures recognizable across every social media site. Specifically, when building a brand on YouTube, include eye-catching thumbnails that stand out amidst competitor videos (while remaining consistently recognizable as your brand).

If you’re building familiarity as an individual rather than a company, using your face in thumbnails is a memorable way to let users familiarize themselves with you and your content.

Video Is Unique: Use It to Your Advantage

When you’re considering how to build a brand on YouTube, exploit the unparalleled creative flexibility that only comes from video. Plan a unique style, and map out how you use every second of your videos to keep their attention.

3 Questions to Ask Yourself While Building a Brand on YouTube

Consider the following when you’re first building your channel:

  1. Who Are You Trying to Reach? 

Use YouTube analytics and study comments on competitor channels to gain insight into the specific people you want to attract.

  1. How Do You Interact with Your Audience? 

Check your video comments daily, responding to the most pertinent comments respectfully and promptly. You may not be able to reply to every comment, but always check them daily. Delete trolling posts and spam.

  1. Would Music Make it Even Better?

Videos impact your followers with sight and sound, so consider finding background music to enhance your content. Brand building on social media is about establishing your unique voice in as many dimensions as possible. Music is a great way to make a statement that matches your visuals.

Be aware—you’ll have to follow copyright and licensing laws. If your budget is limited, there are plenty of options for royalty-free music. In many cases, artists simply want you to share a link to their channel somewhere in your description.

5 Important Ways to Benefit from Trends and Competitors

  1. Build Partnerships with Other Channels

Collaborate with competitors to both reach a wider audience and project credibility in a friendly, approachable manner.

  1. Identify Holes in the Market You Can Fill

Researching YouTube keywords will help you improve your SEO and attract new subscribers. Using Google Ads’ custom intent audience feature, you can capture viewers directly to these keywords when they search them. 

  1. Use Trends to Your Advantage

Don’t go chasing trends; instead, learn to adjust to people’s interests. Use YouTube search trends to get video ideas that will attract viewers. 

  1. Create New Relevant Content from Edits of Previous Videos

Making videos takes time, but if your earlier content touches on trending topics, edit pieces of your videos to create new content—just in time to ride the wave (with minimal production time).

  1. There’s a Season for Everything

Holidays come at the same time every year, so plan for ways to incorporate seasonal themes into your messaging.

Your YouTube Video Checklist

Make sure you remember the following when posting every new video:

  1. Keep your introductions brief and attention-grabbing.
  2. In all your videos, remind people to subscribe, click the like button, ring the bell for notifications, and share a link with friends.
  3. Post your video on your other social media channels.
  4. Create playlists organized around common themes or products.
  5. Create an SEO-friendly video title and description for every video.

Create Ad Campaigns That Only Appear with the Most Relevant and Suitable Content

Once you’re ready to start your first ad campaign, make sure your ads gain exposure where people are the most interested. Ad placement is crucial to connecting with viewers, while protecting your brand from negative and irrelevant exposure.

When you’re ready to take the next step with your YouTube channel, partner with Channel Factory to make sure your ads only appear with the most relevant content.