Love it or hate it, Valentine’s Day is too huge for digital advertisers and marketers to ignore. It is one of the most popular times of the year for brands looking to attract the attention of consumers. Here are the consumer spending stats and facts advertisers and marketers need to know about the most romantic holiday.
Valentine’s Day is reported to be the 4th largest shopping day of the entire year, ranking in an estimated $19.7 billion last year alone.
Advertisers need to take some time to truly understand Valentine’s Day shopping demographics to capitalize on this opportunity every year and to learn from the trends derived from the campaigns that ran.
Over 50% of people celebrate Valentine’s Day in some form, according to Bing, but people don’t celebrate Valentine’s Day in the same way across the board. It’s the finer details and data around Valentine’s Day shoppers that prepares digital advertisers to get more impressions on the digital ads.
Each February is an advertising and marketing love-fest, but not every campaign hits the mark. Let’s deep dive to dissect and analyze Valentines’ Day campaigns run by ZypMedia, and crack open their performances.
The duration of ZypMedia Valentine's day campaigns ranged between 2-6 weeks, and 66% of advertisers preferred 15-20 day long campaigns.
Unlike Christmas and birthdays, people don’t plan that much in advance for Valentine’s Day. Rather than spending advertising budgets toward long campaigns, it makes more sense to focus on one or two weeks leading up to Valentine’s Day. Forty-six percent of people say they start shopping Valentine’s gifts in early February.
The products chosen by advertisers to reach their target audience was a mix of over-the-top (OTT), pre-roll video, and digital display ads. 57% of the clients preferred OTT video campaigns over regular digital video and display campaigns.
OTT advertising is emerging as a leading strategy for advertisers to reach the growing number of young, affluent consumers who are adapting to advanced TV at a faster pace.
Connected TV and over-the-top (OTT) video viewing are growing on the strength of streaming technologies and premium content aimed at living room screens.
According to CNBC, people aged 25-to-34 were estimated to spend the most on Valentine's Day gifts this year. Thus, millennials are the significant chunk of the audience that are targeted for Valentine’s day campaigns. Leveraging the power of audience amplification to reach Millennials in the market wherever they are is possible through OTT services.
The highest performing advertiser category was jewelry constituting 38%.
While Valentine’s Day signals a surge in online shopping, it’s important to note that specific industries do much better than others.
Like any holiday, Valentine’s Day has its own traditions, and that translates into certain gifts being searched for and purchased more often. U.S. shoppers spent an average of $134 each in 2014 on goods related to celebrating the holiday. Industries like candy/chocolate, flowers, and jewelry tend to do the best during the Valentine’s Day shopping season.
At ZypMedia, our top categories of advertisers comprised of jewelers, chocolates, spa, lingerie and others such as flowers, greeting cards, cars and much more.
Our ad operations team observed the highest performing CTR between February 6th - 11th, 2018.
As we discussed earlier, Valentine’s Day is an occasion of short planning and quick turnaround, with most searches and shopping taking place in early February.
A click-through rate (CTR) is the measurement of the ratio between how many people are exposed to the ad and how many people actually click the ad. A higher CTR during early February indicates that more people were clicking on the ads during that time, which supports the concept that the period 6th - 11th February was the most effective time for running Valentine’s day campaigns.
You got a lot website hits from Valentine’s campaign. Make sure not to let them go waste. Use retargeting to pull in more sales after Valentine’s Day.
Want to get some more insights to help you launch seasonal digital advertising campaigns? Get in touch with our team - they live and breathe digital, and can’t wait to help you out!