Indian consumers have enjoyed the best online shopping experience in recent years. E-commerce giants continue to fight it out (and push prices down to rock bottom levels), with bonanzas such as Flipkart’s Big Billion Day and Amazon’s Great Indian Festival Sale.
But, online retail is just beginning to take root in India. E-commerce revenues account for less than 5% in India’s overall retail market.
Diwali is still India’s largest driver of sales. This includes all types of transactions, offline and online.
Online businesses of all sizes are just finishing their Diwali offerings.
Many marketers believe that everything is dependent on the budget. While usually, it makes sense that the more money you throw at your campaign, the better returns you get, timely and actionable data can be a game changer and get you exponential ROI for the same budget.
SEMrush, a digital marketing and business intelligence suite, released some valuable data in the form a Diwali/Holiday Marketing Guide. This guide provided valuable insights on SEO, PPC and social media marketing that could be used to help marketers plan and execute high-stakes holiday campaigns.
Let’s look at how big data analytics combined with expert insights from SEMrush can be used to create a marketing strategy that will keep you going every Diwali. With just a few tweaks, our tactics. It is important to stay true to the basics and move forward, step by step.
- What are the most important factors in this season?
There are certain trends that are more important than others for every seasonal or yearly occasion, such as Diwali. Consumers will want to keep up with the latest trends, “in-things”, and “latest products” in order to be considered “cool” by their family and friends.
Along with the new buzzwords and fads, there will also be the traditional stuff that marketers can count on – these are cash cows upon which the event is built. Lights, crackers and sweets will be the most popular products for Diwali. Online, greetings, images and shopping deals are the top terms.
How can you gain more insight into these trends to ensure you stay ahead of the pack every year? Start by doing keyword research on these terms.
Start with terms you are familiar with and then use tools such as SEMrush Keyword Magic, to identify closely End. semantic terms that could be used in the exact same context. You can also pull data from different periods (such as high and low sales) to see historical fluctuations in searches. This will allow you to estimate how much effort you should put into these keywords.
- What niche is the most lucrative?
One of the biggest mistakes marketers make is to only promote their most popular products in every season. Although you need to have a consistent strategy for marketing your most profitable products you shouldn’t assume that people will buy them. There is no reason to not do enough research on the market before you flood it with your pre-determined campaigns, given the wealth of data available.
For example, Boston Consulting Group data tells us that Consumer Electronics accounts for the largest share of ecommerce sales.
SEMrush data shows that Electronics is actually much cheaper than Telecom, Education, Insurance or Travel.
BCG data again shows that penetration in the Food niche was very low. However, we all know that this is changing quickly with apps like Zomato or Swiggy, which you can find on almost every phone.
This highlights the importance and timely use of contextual data to help us make decisions about how and where we spend our advertising and marketing budgets.
- What are your customers looking for?
Understanding your audience’s behavior is essential if you hope to convince them to buy from YOU.
For that, you first have to know how they go about purchasing goods or services.
In India the smartphone is the most popular shopping device. Unlike developed markets like the USA and UK, India’s smartphone can be used to search for brands and products, read reviews and make purchases.
This means that you must prioritize mobile-friendly brand messaging, shopping functionality, and payment methods over the desktop version. Mobile sales are not something you should lose.
- Who are your competition?
One need only look at the battle between Flipkart and Amazon to see how crucial it is to keep an eye on the competition and be ahead of them every move. This is especially important for small businesses, as you never know when your business will be outsold by big advertising spends from giants in your industry.
Competitive Intelligence and Web Analytics are important here. To reformulate your strategy, you need to make use of every bit of data available. Digital marketing means monitoring metrics and benchmarks to help you reach your goals.
SEMrush provides vital information about how your competitors are using content marketing, SEO and PPC campaigns.
- The keywords you rank for versus your competition
- The number of backlinks your articles have compared to those of your competitors
- The traffic your competitors get from different online sources, channels, and media
- Your competitors’ most popular content in terms clicks, shares and links
- The exact messaging that your competitors use on their Google ads
- What can you do to make your plan foolproof.
During holidays like Diwali, your resources and time are extremely limited. You can be certain that one mistake could spell disaster for your business.
I want to reiterate the importance of data – data about your market, customers, competitors, your business, industry, and the evolution in technology – all of these must be considered when creating your digital marketing plan that works for seasonal or limited-time occasions.
While you can monitor brand awareness and sales, it is also important to watch how much you spend to achieve these results. You have a better chance of not wasting any of your budget if you have more detailed data.
Every Diwali business owners face the same question: How can we stand out among all the marketing noise to sell products that deliver real value to our customers? It is important not to rush into marketing frenzy and spend all of your advertising budget on a campaign you don’t like. You can rely on competitive intelligence and hard data to create ads and content that appeals directly to your customers.
The stats, data, and tactics from SEMrush’s Diwali Marketing Guide provide enough strategic information to help you plan and execute your seasonal marketing campaigns every year. I welcome your comments and suggestions.