Christmas time is here which means that it’s time for businesses to get to work in order to generate as much revenue as they can. The retail industry generated 7.3 trillion dollars last year and these numbers should only increase. Now this is a big sum of money and businesses would love to have the maximum shares in it.
For consumers, it may be a time to relax with their families going shopping or eating out but for businesses, it is the busiest time of the year. So much so, that 80 percent of revenue is generated in 20 percent of the year which usually kicks off just before Halloween all the way to New Year’s Eve. All the events in between this time period consist of targeted real-time marketing for Christmas.
Retail stores and restaurant owners devise multiple Christmas promotions during the holidays. Since the season is busier than the whole year, they also have to dedicate a lot of man power and financial resources to manage operations efficiently. For instance, people prefer to dine out more during the holidays nowadays so businesses need to market the menus and outlets to draw them in at any time during the day. Moreover, retail sale generated almost $1.3 trillion in 2017 so you can imagine exactly how important the season is for businesses.
The world has moved on from $5 gift cards and .99 pricing strategies. Now, business have to go the extra mile as customers look to get as much value as they can with limited spending range. So here are a few ideas to get you to work and make the most out of the season ahead.
1. Seasonal Products
Seasonal products are a hit in any part of the world. Special occasions call for special items that do not normally work all year round but are a must have during the holiday season. For example, what would you buy during the Christmas season; a simple garden Gnome or a Santa Claus garden Gnome? A restaurant can offer a “the more the merrier” limited buffet for all menu items during the month.
2. Deadline Promotions and Bonuses
Limited time bonuses add value to your product deals. They encourage people to think about your offers more seriously and respond to the call-to-action before the deadline. It makes them think that this product offers them value which they cannot get unless they act right away. You probably see this in electronic stores with limited time products. For example, the limited time Spider man edition PlayStation was available for hardly 2 weeks before it sold out and the offer expired. You can add different Christmas themed products or bonuses to your own items. Plus, it also indicates that your business takes the holiday spirit very seriously.
3. Christmas Bundles
Bundles are great during the holiday season especially when customers are looking to buy gifts to give to their friends and family. A Christmas gift basket has been around for as long as we can remember. Just make sure your products are in the basket along with some Christmas themed items. Hell, add in toys, electronic items that fit or a nice wine as complimentary items.
4. Digital Promotions
During the holidays, people are not looking to just randomly buy products. They’re looking for inspiration, motivation, visual attractions and festive promotions. Digital marketing is the present and future of marketing even though traditional channels might seem more attractive due to their physical presence. Most people look to get cozy and shop from home online for their favorite products. The first step is to draw your customers to your website so get some advertising and SEO going to make sure your website is on the search engine results. Then, try to engage with customers using these channels sometimes even together. The biggest perk of doing this is real-time promotion and sale your products based on daily trends and not general descriptions.