Navigate Increased Competition and Capture Audience Attention This Holiday Season
In 2023, Black Friday and Cyber Monday sales reached $9.8 billion in the U.S. and are expected to reach $12.4 billion in 2024, according to Adobe Analytics. As we approach November 29, digital advertising will ramp up as retail brands vie for consumer purchases. Advertisers need to understand how this competitive environment can impact their campaigns and how to protect their brand presence, even if they aren’t promoting any Black Friday sales.
Increased Ad Clutter
A few weeks before Thanksgiving weekend, the media landscape will be saturated with ads promoting discounts and deals. The most significant ad spending will likely occur on social media, streaming services and search engines. This ad clutter can have both negative and positive effects on your brand.
Unfortunately, audiences may become overwhelmed and tune out altogether, leading to fewer opportunities for consumers to notice your ads. On the flip side, with so many brands discussing the same thing, your unique messaging could stand out more easily against repetitive promotions.
Rising Ad Costs
As more brands compete for visibility, advertising costs will inevitably rise. Just as political campaigns surge in spending during election season, retailers will do the same for Black Friday. According to industry forecasts, you may see an increase in costs-per-thousand impressions (CPMs) and costs-per-click (CPCs) as Black Friday approaches. With more brands battling for the same ad space, budgeting effectively is crucial.
Adjust Media Spend
To prepare for increased ad clutter, consider lowering your ad spend in the weeks leading up to Black Friday while being strategic about your budget. Avoid the temptation to overspend during the peak weeks; instead, allocate your resources where they’ll be most effective, like non-competitive platforms or niche targeting.
Refine Your Media Strategy
Not all platforms will be equally impacted by the Black Friday rush. Consider focusing your efforts on channels that typically see less competition. For example, platforms like LinkedIn may offer opportunities with fewer competing ads. Google Search can also be effective for targeted keywords.
Target Strategically
The more specific your targeting, the better your return. Utilize first-party data to create tailored audience segments more likely to convert. Ensure that your campaign objectives drive engagement — like purchases or sign-ups — rather than just impressions.
Craft Standout Messaging
In a crowded marketplace, your ad content must capture attention. Avoid blending in with generic promotions; highlight what makes your brand unique. This time also presents an opportunity to experiment with ad formats.
Conclusion
As Black Friday and Cyber Monday approach, the retail ad landscape will become increasingly competitive, bringing both brand challenges and opportunities. You can effectively navigate this bustling shopping season by anticipating rising costs and ad clutter, adjusting your media strategy, and crafting compelling messaging. Stay agile and focused on your audience; your brand can thrive even amidst the noise.
