The upcoming sales and shopping season presents both significant opportunities and fierce competition for retailers. To stand out during this period and boost sales, brands are increasingly turning to deep learning-based retargeting technology. According to RTB House data for the EMEA region, this technology has provided a 66% increase in conversions in the retail sector compared to the same period last year.
Personalized Experience, Increasing Customer Loyalty
Today’s consumers value personalized experiences. Research shows that 76% of consumers prefer brands that offer personalization, while 60% are more likely to shop from the same brand again after a personalized shopping experience. Deep learning algorithms can analyze consumer behaviors to provide tailored product recommendations for each customer, enhancing both satisfaction and loyalty.
Maximize Sales with Retargeting
Retargeting is an effective method for re-engaging potential customers and boosting sales. When integrated with other marketing activities, it can increase sales potential by up to 50%. Moreover, it has been observed that returning customers spend 67% more on their next purchases through retargeting. Additionally, 38% of customers respond positively to retargeting ads in search of better prices.
Strategic Planning for New Customer Acquisition
Retailers should establish different strategies based on their discount season goals:
Growth-Focused Brands: Brands looking to increase market share can implement significant discounts and a Cost Per Sale (CPS)-focused strategy.
New Customer Acquisition: Brands aiming to reach new customers can run retargeting campaigns focusing on segments such as Cart Abandoners and Low-Value Users.
Inflationary pressures and economic uncertainties are making consumers more selective and price-focused. This necessitates brands to implement more creative and personalized marketing strategies to stand out in the competition. Can Tunçer, Country Director of RTB House Turkey, offers the following recommendations for brands to succeed in this period:
Omni-Channel Strategy: Consumers are now shopping through various channels. Brands should adopt an integrated marketing strategy across all channels, including websites, mobile apps, social media, and email.
Mobile Optimization: With the increase in mobile device usage, it is crucial for brands to offer mobile-friendly websites and advertisements. Exclusive discounts and promotions for mobile devices can also capture consumer interest.
Data-Driven Optimization: Continuously monitoring and analyzing campaign performance is critical for optimizing strategies and maximizing return on investment.
Advance Preparation: As the discount period approaches, brands need to plan and prepare their campaigns in advance. Setting advertising budgets, identifying target audiences, and preparing creatives are essential steps to ensure success.
For more information about the 2024 discount and shopping season using deep learning technology, you can visit blog.rtbhouse.com.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
