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How Aggressive Q3 Tactics Give E-Commerce Brands an Edge in Q4
Are you curious about how to make the most of your e-commerce business during the holiday season? In this blog, we'll share some valuable tips on how being aggressive in Q3 can lead to a successful Q4 and beyond. Let's dive in!
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Introduction
As the year progresses, e-commerce businesses are gearing up for the highly competitive and high-volume holiday season in Q4. While this is a crucial period for many companies, it's also important to consider the period leading up to it - Q3.
Lower Acquisition Costs in Q3: A Money-Saving Opportunity
In fact, successful e-commerce businesses know that being aggressive with customer acquisition in Q3 can greatly impact their performance in Q4 and beyond. Did you know that acquisition costs are significantly higher in Q4 compared to Q3? In fact, according to research by CPC Strategy, average CPM (cost per thousand impressions) on Facebook increases by 171% in November compared to October. This means that taking advantage of the lower acquisition costs in Q3 can save businesses a lot of money in the long run.
Maximizing the 90-Day LTV Window: Why Q3 Matters for Repeat Customers
But that's not the only benefit. Another major advantage of being aggressive in Q3 is maximizing the 90-day LTV (lifetime value) window. According to research by Salesforce, 57% of e-commerce revenue comes from repeat customers. By acquiring customers in Q3, businesses have a better chance of converting them into repeat customers before the holiday rush in Q4. In fact, research by RJMetrics shows that the probability of a customer making a repeat purchase increases by 27% after their second purchase, and by 45% after their third purchase.
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Building Trust and Engagement in Q3: The Power of Welcome Emails
The email inbox is a highly competitive space during Q4, with customers receiving an influx of emails from every brand they subscribe to. However, businesses that are aggressive in Q3 can use this period to build trust and engagement with newly acquired customers/subscribers. According to a study by Experian, welcome emails have an open rate of 50%, which is higher than the average open rate for promotional emails. This means that businesses have a better chance of capturing the attention of their new customers/subscribers during this period, which can pay off in Q4 and beyond.
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Summary
Overall, being aggressive in Q3 can significantly improve performance throughout Q4 and into the New Year. According to research by Epsilon, customers who make their first purchase during the holiday season are 10-20% less likely to make a repeat purchase compared to those who make their first purchase at another time of the year. By acquiring customers in Q3 and building a relationship with them, businesses can increase their chances of long-term success.
