Black Friday is one of the main opportunities for retailers to increase sales. Uncover, a martech specialist in Marketing Mix Modeling (MMM), presents insights to maximize the potential of the data, based on an analysis of the performance of over 40 MMM models related to 2023. The survey highlights effective strategies for the sales funnel, Return on Advertising Investment (ROAS), and overall media contribution.
Full Funnel Strategy
The analysis indicates the importance of maintaining a balanced approach, combining top, middle, and bottom funnel strategies to maximize the impact of Black Friday campaigns. Although investing at the bottom of the funnel can generate a higher ROAS in the short term, the analysis suggests that a full-funnel strategy results in more sustainable benefits and a more consistent long-term impact.
Investment allocation
During Black Friday week, 31% of advertisers invest in top-of-funnel with a focus on awareness, while 8% prioritize consideration. Most (61%) prioritize campaigns to increase conversion.
During the period leading up to Black Friday (October and the first weeks of November), 53% of the investment is concentrated at the top of the funnel, focusing on awareness and consideration.The study suggests that working at the top of the funnel is a great strategy to boost conversion ROAS.
ROAS by investment strategy
Uncover's analysis reveals thatcampaigns that span the entire marketing funnel have demonstrated an increase in sales of over 10 percentage pointscompared to other approaches, although they may slightly impact ROAS.
- Clients who invest 71% at the top of the funnel obtain a ROAS of R$1.8.
- Clients who allocate 79% at the end of the funnel achieve a ROAS of R$3.0.
- Those who allocate 99% between the top and bottom of the funnel achieve a ROAS of R$5.1.
- Clients who adopt a full-funnel strategy have an average ROAS of R$2.5.
Recommended media
Uncover still indicates the media that cannot be missing for retailers who want to boost incrementality or ROAS.
- To leverage incrementality
- Google Ads (App, Search Branded, Search Non-Branded)
- Meta Ads (Advantage+, DPA e Feed)
- TikTok Ads
- Out of Home
- Television
- To leverage ROAS
- Influencers
- Google Ads (App, YouTube e Discovery)
- Meta Ads (Audience, DPA e Vertical)
- TikTok Ads
- Affiliates
