Out with the old and in with the new. As the new year is always full of promise and hope, there is one last occasion that brands can’t forget: Q5.
What Is Q5 All About?
At Smartly.io, we generally define Q5 as the time between the end of December (12/26) and mid-January where consumers are typically laying low after the holiday splurge. However, people are still shopping, just with a slightly different mindset. What’s more, consumers during this period are also more forward-looking, searching for products and services that will help them accomplish their new year’s resolutions.
Typically, brands have cut back their spending on social during the post-holiday season, but in a year like 2020 where consumers are spending more time than ever online, marketers should look at Q5 as an opportunity to have a successful start to the new year. In fact, 48% of consumers say they are now more open to engaging with social media ads and more than half (51%) have completed at least one purchase through social media in a 30-day timeframe.
As brands begin to prepare for this unique opportunity post-holidays, here are four steps to consider:
Treat Q5 Like the Holidays
This Q5, it's vital that brands are as efficient as possible to recoup sales lost earlier this year. The sooner you prepare your assets for Q5, the better off you’ll be. In fact, put the same preparation into your Q5 campaigns that you did for the holiday season. You’ll also want your ads to be approved well ahead of December 26th.
Get a Jumpstart on Q1
Brands have the opportunity to make a big splash and start the year strong with a full-fledged campaign. This historically forgotten time is gaining traction in recent years and you don’t want to be left behind! With so much competition, it’s important that advertisers enter the market early with specific initiatives and language, so that you and your products will be top of mind.
Secure the Bag
As the motivation for shopping may be different in Q5, keep in mind that consumers are always looking for a deal. To catch their eye, lead with promotions, including bundles, retargeting, free trials and free shipping. But it’s not just a good deal that will make a sale, consumers are more tuned into making impulse or quicker decisions that could help them on their path to a better new year. Called the “Why Not” mindset, brands should take advantage of consumers who may be more open to trying something new.
Spend Time on What Matters
Above all, by having everything set before the holiday break, marketers can enjoy their holidays and simply deploy the campaign when back at work. With the help of automation technology, brands can set hourly or daily alerts and actions based on performance goals, increase bids and budgets, and activate or pause ads. This also allows marketers to automatically stop underperforming ads and allocate those budgets to the best-performing ones.
The holidays will undoubtedly look different this year, but just like consumers, brands should have their eyes set on what’s ahead. With deals, targeted promotions and personalized messaging, brands have a plethora of opportunities to extend their 2020 sales cycle and reach a new group of inspired customers.
The new year is just around the corner, and we want to help you to start your 2021 strong! For more tips on how to have a successful Q5, visit our playbook here.