It’s Black Friday week! While we’re curiously awaiting this year’s consumer trends for Black Friday and Cyber Monday, we would like to give you an update on our rule of thumb with regard to data exclusion after promotional events, along with our best last minute advice! With Black Friday and Cyber Monday transforming into a whole week of increased sales volume and shop traffic, in how far does the old rule of thumb apply?
As a user of Adference who has no doubt taken a couple of minutes reading our FAQs, you know that we like to recommend the exclusion of data from the historical record for days with unusually high sales volumes. This typically holds true for promotional offers and bargains on single, strong-selling days. There are simply not any clear signs for Adference Bid Management to anticipate these sudden events. In order to use these days to the fullest and to show up in as many searches as possible, we suggest adjusting your optimization settings towards a less ambitious target.
Advice 1: If you expect a sudden increase in sales and conversion rate, adjust your goal settings to a less ambitious target for this time frame.
On the other hand, if sales numbers gradually increase over the course of weeks, i.e. Christmas, Easter, summer holidays etc., we advise against changing your optimization goals. Adference Bid Management will recognize the trend and automatically adjust to the new conversion rates.
Advice 2: If there is a gradual increase in your performance, Adference recognizes this trend and adjusts bids accordingly–no need for action!
In theory, both Black Friday and Cyber Monday are examples of days that show a sudden spike in sales. However, as more and more advertisers share their Black Friday and Cyber Monday deals early on, consumers now have the chance to start comparison shopping during the weeks and days leading up to the event. Interest builds throughout November and finally spikes on Black Friday and Cyber Monday.
Cyber Monday Offer
As shoppers search for Black Friday and Cyber Monday deals in connection with specific products or brands, advertisers can expect to experience higher CTR (Click Through Rates) and higher CVRs days before the actual promotion starts. This gives Adference Bid Management the opportunity to recognize the increased CVR and to react by increasing bids in accordance with the most recent performance history.
Our tips for the best results–Black Friday through Cyber Monday–with Adference:
- Go for less strict optimization goals, ideally starting at the beginning of the sales week. This trick is especially effective, if high CTRs during your customer’s research phase prior to Black Friday and Cyber Monday have lead to a lower CVR. It will trigger an increase of bids within Adference Bid Management.
- Important: Make some extra budget available. Give the bidding system the chance to show your ads as often as possible, as long as cost and revenue stay within your goal. Continuously monitor budgets.
Post Cyber Monday:
- Don’t forget to tighten your goals after sales week.
- Exclude data: If you do observe an unwanted effect on your bids the days after Cyber Monday, please do let us know. We’ll retrospectively exclude the data for you.
If you have any more questions to do with the upcoming weekend, don’t hesitate to give your account manager a call!
Often, long-term performance makes up only a small amount of the data that we use in calculating bids. If you would like to learn more about how Adference deals with seasonal effects, check out our blog post on Christmas sales and how Adference deals with strong seasonality.