Is your business ready for the holiday season? Do you have a marketing plan in place? If not, it's time to get on the ball, because the holidays are quickly approaching, and this might be a tough season to navigate.
"The holidays are the busiest time of year for many small retailers and other businesses," notes Mae Anderson with the Associated Press.* "But the holidays this year could be particularly challenging. Although inflation has retreated, small businesses are still dealing with high costs and consumers have been tightening the purse strings, too."
Determine Your Goals
As you prepare your marketing plan for the holiday season, make sure you set your goals. Review your performance from last year and align your goals with your business objectives. For example, focus on sales to increase revenue. Focus on reach and engagement if you're more concerned with brand awareness.
Focus on key metrics such as: revenue, conversion rate, customer acquisition cost, return on investment, customer retention rate, and social media engagement.
Know Your Target Market
Know your target market going into the holidays. Analyze past sales data, and segment your audience based on demographics and purchasing behavior, and then tailor holiday offers to these specific groups. Understand seasonal buying motives and keep track of holiday trends. Identify repeat customers and create special offers or loyalty programs related to the holiday season. Utilize the extensive targeting options offered by platforms like Facebook and Google.
Make Use of Social Media Early
Utilize platforms like Instagram, Facebook, and TikTok to start generating buzz early. Update early and often. Boost posts that are likely to generate the most excitement and anticipation and stay active and engaged. Answer questions from consumers and point them to important info and relevant landing pages.
Figure Out Your Discount Offers (And Get the Info Out There)
Determine the discounts you plan to offer and inform your customers as soon as possible. First, they are already shopping, and second, the sooner they have this information, the less time your competitors will have to swoop in with their own offers.
"American consumers are savvy shoppers," says Jennifer Dublino at Business.com.** "They know businesses compete for customers and are always on the lookout for discounts and sales. Strategize early and brainstorm ways to appeal to your customers’ desire for excellent deals. For example, offer a single, valuable discount to draw in bargain hunters or plan a series of short-term promotions that change weekly, giving shoppers an incentive to return. You could also use discount codes to boost e-commerce sales."
Prep Your Email Campaigns
Social media isn't the only online marketing channel worth paying attention to. Email can be highly effective, as well, especially for existing and repeat customers with whom you've already communicated by email. Try holiday-themed campaigns with attention-grabbing subject lines, exclusive offers, and messages that are personalized toward the recipients.
Make Sure Your Website is Ready
Be sure your website is optimized for search engines, as well as mobile smartphone experience. This is how many of your customers will be looking to shop. If it's not easy to buy from you on the phone, something needs to change. Make sure there is as little friction as possible in the sales process.
Perform a Quick Competitive Analysis
Pay attention to how your competitors market for the holiday season. Analyze their holiday promotions and social media strategies. Study their email marketing tactics and website experiences. Seek out third-party tools that can provide insights into competitors’ web traffic, paid ads, and content performance.
While signs have been increasingly positive for the nation's economy, there is still much uncertainty, and many consumers are still feeling the effects of the past few years. Businesses are also affected. This might still be a tough holiday season for both, so maximizing your marketing efforts can be critical for boosting your sales and helping your customers find the deals they want from you.
