Nation abuzz with excitement, fingers poised over keyboards and wishlists meticulously curated. It's that time of year again – the Great Indian Festival and Big Billion Days, where e-commerce platforms transform into virtual wonderlands of discounts and deals. It's a time when wishlists grow longer and carts fill up with dreams waiting to be unboxed.
These platforms have actually expanded so much that over 70 sellers have become crorepatis in the first 3 days of the sale.
Yet, behind this spectacle lies an unsung hero – performance marketing.
It's the wizard behind the curtain, pulling the strings of data, strategy, and creativity to ensure every click counts.
Let’s unravel how performance marketing has breathed life into India's grandest shopping events.
How has Performance Marketing Turned Casual Clicks into Resounding Sales in 2023?
Advanced Analytics: Bullseye Targeting
The average customer visits daily during the Amazon and Flipkart sales in 2023 were over 90 million within the first 48 hours. This is a significant increase from the previous year when the average daily customer visits were around 7 crores (70 million).
Harnessing advanced analytics ensures that every ad reaches the right eye, significantly increasing the likelihood of conversion. It's like having a GPS for success.
Budgets That Pack a Punch: Maximizing Impact
Now, let's talk strategy.
Each advertising budget could be $100 million to $200 million or more.
Here are some of the ways that Amazon and Flipkart spent their advertising budget during these mega sales:
| Channel | Budget (approx) |
|
Television |
50-60% |
|
Online advertising |
30-40% |
|
Print advertising |
5-10% |
|
Public relations |
5-10% |
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Television advertising: Television is still the most popular medium in India, so Amazon and Flipkart spend a significant portion of their advertising budget on television ads.
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Online advertising: Online advertising is also becoming increasingly popular in India, so Amazon and Flipkart spend a significant portion of their advertising budget on online ads, such as search engine ads, social media ads, and display ads.
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Print advertising: Print advertising is not as popular as it used to be, but Amazon and Flipkart still spend some of their advertising budget on print ads, such as newspaper and magazine ads.
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Public relations: Amazon and Flipkart also spend some of their advertising budget on public relations activities, such as press releases, media events, and product reviews.
Performance marketing is the battle-hardened general, strategically positioning resources where they'll make the most impact. It's about making every marketing rupee a formidable force.
Real-Time Analytics: The Pulse of Success
Imagine you're in a high-speed car race and must make split-second decisions. That's what these shopping events feel like.
Real-time analytics are the heartbeat of performance marketing.
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73% of marketers believe real-time analytics is essential for business growth.
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80% of marketers say that real-time analytics helps them to improve their customer experience.
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77% of marketers say that real-time analytics helps them to make better decisions about their marketing budget.
It's like having a crystal ball that lets you see the future of your campaign.
Decoding Customer's Journey
Understanding the customer's journey is like deciphering an ancient script in the digital world.
Performance marketing unveils this narrative, revealing the key chapters. Businesses with strong attribution models enjoy a 42% increase in revenue. It's like having a roadmap to success, guiding you through the twists and turns of the customer's digital journey.
Remarketing: Rekindling the Flame
Have you ever had a moment slip through your fingers, only to wish you could turn back time? That's where remarketing comes in. Studies show businesses can witness a substantial 50% increase in conversions through effective retargeting. It's like having a second chance at a first impression.
Expanding the Discussion: Performance Marketing Strategies
So far, we've explored the immense impact of performance marketing during the Great Indian Festival and Big Billion Days. Now, let's delve deeper into the specific strategies that make performance marketing a force to be reckoned with during these mega-events.
Influencer Collaborations: The Human Touch
Influencer marketing is one of the most potent strategies for these shopping extravaganzas.
Did you know that 80% of consumers trust the recommendations of influencers?
Performance marketing leverages this trust to amplify its impact. By collaborating with influencers who resonate with the target audience, e-commerce giants create a human connection that transcends traditional advertising.
Personalized Campaigns: Tailoring the Experience
In the era of information overload, personalization is the key to capturing attention. Per various studies like HubSpot, personalized emails deliver 6x higher transaction rates.
Performance marketing harnesses this power by tailoring campaigns to individual preferences and behaviours. Whether personalized product recommendations or dynamic content, this strategy ensures that every interaction feels like a bespoke experience.
Social Media Integration: Riding the Wave
During these mega-events, social media platforms become bustling marketplaces.
Did you know 93% of shoppers use social media for product recommendations?
Performance marketing capitalizes on this trend by integrating seamlessly with social platforms. From eye-catching ad formats to shoppable posts, it ensures that the shopping journey flows seamlessly from the platform to the checkout.
Gamification: Turning Shopping into a Game
Shopping isn't just about acquiring products; it's an experience!
Performance marketing taps into this sentiment by infusing an element of gamification. Interactive quizzes, challenges, and rewards transform the shopping journey into an engaging adventure. This keeps shoppers hooked and encourages them to explore and discover more, leading to higher average order values.
Amazon's Great Indian Festival Spin and Win
Amazon launched a Spin and Win game during its Great Indian Festival sale in 2023. Shoppers could spin a wheel to win discounts, coupons, and products. The Spin and Win game was also very popular with shoppers, and it helped Amazon to increase average order values.
Flipkart's Big Billion Days Game Zone
Flipkart launched a special Game Zone during its Big Billion Days sale in 2023. The Game Zone featured interactive games like quizzes, challenges, and puzzles. Shoppers could play these games to earn coins, which they could redeem for product discounts.
Countdowns and Urgency Tactics: Seizing the Moment
During these mega-events, the sense of urgency is amazing!
Performance marketing capitalizes on this by employing countdown timers and limited-time offers. This strategy creates a sense of FOMO (Fear of Missing Out), compelling shoppers to take action before the opportunity slips away.
Seamless User Experience: Removing Friction
In the fast-paced world of e-commerce, every second counts. Performance marketing collaborates closely with UX/UI design teams to ensure the shopping experience is seamless and intuitive. From lightning-fast loading times to intuitive navigation, every element is optimized to reduce friction and enhance the user journey.
Case Study: Apple iPhone 13 Campaign During the Great Indian Festival 2023
The Apple iPhone 13 is one of the most popular smartphones in India.
One of the reasons for the increase in sales was Amazon's aggressive pricing strategy. Amazon offered the Apple iPhone 13 for a price of ₹39,999 during the sale.
Another reason for the increase in sales was Amazon's focus on personalization. Amazon used artificial intelligence (AI) to recommend the Apple iPhone 13 to shoppers based on their browsing and purchase histories. For example, if a shopper had been browsing high-end smartphones, Amazon would recommend the Apple iPhone 13 to them during the sale.
Additionally, Amazon offered a variety of exchange offers and EMI options on the Apple iPhone 13. This made the smartphone more affordable for shoppers.
Results
- 40% increase in sales of the Apple iPhone 13 during the Great Indian Festival sale.
- 15% increase in customer satisfaction (measured by customer reviews).
- 10% increase in brand awareness (measured by social media engagement)
Lessons learned
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Use a comprehensive strategy: Don't rely on a single performance marketing channel. Instead, combine channels to reach a wider audience and generate more leads.
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Personalize the experience: Focus on creating a personalized shopping experience for each customer. This can be done using data-driven insights to understand customer preferences and behaviour.
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Make it easy to buy: Optimize your website and mobile app for a seamless user experience. This will make it easy for customers to find and purchase their desired products.
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Create a sense of urgency: Use countdown timers and limited-time offers to create a sense of urgency and encourage shoppers to take action.
Final Thoughts
The Great Indian Festival and Big Billion Days are shopping events and cultural phenomena in India.
Have you ever wondered how shopping festivals like the Great Indian Festival or Big Billion Days manage to grab your attention?
It's all thanks to a team of marketing experts who work tirelessly behind the scenes to orchestrate a seamless shopping experience for you. From eye-catching promotions to unbeatable deals, they leave no stone unturned to ensure that your shopping journey is nothing short of extraordinary.
As the digital landscape evolves, performance marketing will remain the linchpin of success, ensuring that every marketing effort yields a substantial return. Therefore, simply having knowledge about digital marketing is not enough; it has become imperative to join a professional performance marketing course to excel in your digital marketing endeavours and stay ahead of the competition.
P.S
With Diwali around the corner and performance marketing at the helm, many e-commerce giants have already started their next round of premium sales.
So, keep your eyes peeled for the latest updates and notifications, and prepare to be amazed by the magic of performance marketing once again.
image sources: Amazon and Flipkart Facebook pages, expressanalytics.com, epochonline.com
