Even with the madness of Black Friday and Cyber Monday behind them, retailers are busier than ever gearing up for a promising holiday season. To help retailers maximize their learnings from the past week, we opened up the Performance Horizon data vault to compare Black Friday activity from 2015 and 2016. While we are using hard data, we are keeping the analysis light.
This past week has been a big one for retail with major transactions erupting on Black Friday, continuing throughout the weekend, and spiking again during Cyber Monday. As a follow up to our Black Friday analysis, we’ve taken a look at the real-time data in our data warehouse and compared conversion activity on both major dates.
Last week, Black Friday drove tremendous partner marketing activity on the Performance Horizon platform. This included almost ten million conversions occurring in 53 unique currencies (from United Arab Emirates Dirham - AED to South African Rand - ZAR) resulting in a total of over $100,000,000 in economic impact for advertisers over the course of a single day. These conversions dwarf our stats from last year, in large part because of the significant volume of traffic from our new clients in 2016.
With Black Friday rearing its head this week and Cyber Monday just around the corner, global retailers are primed and ready for action. Last year, Black Friday drove £1.1 billion online sales in one day and sales this year are estimated to surpass those figures.
The disruption taking place in the affiliate and partner marketing space coupled with the continued adoption of mobile is creating ample opportunities for the world's largest enterprises and their marketing partners to drive margins and growth. These opportunities and the variety of marketing partners will grow exponentially as new technologies like wearables, virtual reality/augmented reality and IoT open new doors to commerce where activity can be tracked with fine-grain accuracy.
Client Success Story
In 2016, global online travel agency ebookers.com (part of the Expedia Group) began working with Performance Horizon to track, measure, and reward a variety of their marketing partners and affiliates across seven geographic markets.
The main challenge ebookers faced was the daunting task of transitioning their existing affiliate marketing program from multiple networks into a single technology platform.
It's that time of year. We're well into Q4 and predictions for the biggest digital marketing trends for the coming year have begun to surface. Sound familiar? It should. The same thing happened last year (and the year before that). Instead of adding a new list to the mix, we thought it would be interesting to look back at the major trends predicted for 2016 and compare them to what digital marketers are being told to plan and prepare for in 2017.
There's no doubt that data and technology are key drivers of successful marketing. As reported by eMarketer, "marketers put more dollars behind their data-driven marketing efforts, and saw revenue gains, between Q1 and Q2 2016 in the US. Similarly, overall, spending on marketing technology—key to data-driven efforts—continues to grow worldwide."
While it's difficult to stay competitive in a fast-paced, ever-evolving digital space, here are some key tips marketers can implement to remain in the know.
Client Success Story
THE ICONIC is Australia's leading online destination for fashion and sportswear, selling products from over 700 Australian and international brands. Although they managed a large portion of their affiliate channel in-house and had direct relationships with their key marketing partners, THE ICONIC sought a technology partner that provided more sophisticated, in-depth performance data and would enable them to work with all of their partners on a single platform.
The main challenge THE ICONIC faced was transitioning to a technology platform while seamlessly onboarding existing marketing partners. Onboarding any new enterprise software can present challenges, and with thousands of partners to transition in the affiliate channel, seamless execution is critical to avoid wasting money both in lost sales and inefficient use of internal resources.
THE ICONIC's affiliate program was fragmented across multiple networks and lacked in-depth performance data, which hindered long-term channel growth. THE ICONIC needed a solution that allowed them to view all partner performance data on a single dashboard, track individual partner performance in detail, and increase data transparency alongside their partners to improve performance.
We understand that company news doesn't generally have broad appeal to those outside of a company's inner circle, but every once in awhile, we have an opportunity to get involved with a good cause that trancends technology and business and brings together the entire community.