The first quarter of the year can be dreary time for many retailers.
Holiday bills are coming in, gift-giving is way down, and tax season is just around the corner, all causing consumers to tighten their purse strings. Sellers have tried to fight off the post-holiday slump for decades with things like clearances and deep discounts, and while they may help some with volume, the price-slashing can wreak havoc on profits.
So does that mean you just have to grit your teeth and wait for better times? Not necessarily. Here are some ideas that can boost post-holiday sales without wrecking your margins.
Gift cards are replacing lame presents and cash gifts at a furious pace. While many are store-specific, a lot are not. Encourage holders of those cards to spend them with you. Let them know the cards are welcomed. Offer an incentive like an extra discount or a gift for using them. Have shoppers convert the card to one of yours at a premium. Nearly half of all consumers received a gift card for Christmas. That represents billions of dollars just waiting to be spent. Help them spend it with you.
People start off the new year with the best of intentions. Help them out by offering things that make keeping those resolutions easier, or at least more fun. Promote products and services that target fitness and beauty. Offer things that help with organization and productivity. That promote a healthier lifestyle. Or if you’re in the luxury business, offer your goods as a well-deserved reward for keeping their resolutions.
You have a lot of different people in your customer base and they all have different triggers. Look at your customer demographics and target your marketing to subsets rather than using a one-size-fits-all approach. Take the time to learn what your customers really want and deliver content that addresses their needs on both your website, on social media, and in email marketing.
Take a hard look at what you’re doing to build your business. Are you offering incentives like a loyalty program, free gifts with purchases, free shipping with qualifying orders? Are you promoting new products? It’s a fresh new year; how fresh are your promotions? And how fresh is your website?
As tempting as it may be to relax after the holiday madness, you do so at your own risk. You’ve picked up new customers during the season and they all have email addresses. Don’t let them forget you and don’t let your other customers idle away. While their memories of you are still fresh, take some of the ideas above and give purchasers reasons to keep buying from you. You also added followers on social media. Don’t ignore them, either. Let your competitors relax if they want. You’ll just stand out all the more.
Good marketing isn’t an event, it’s a process. The Unleaded Group can help ensure that your company’s digital marketing delivers all its potential during the coming year. Our design and development teams will make your site captivating, dynamic and user-friendly across all devices. Our ecommerce marketing and content management specialists will make sure your site is designed to drive up its rankings and build revenue gains with our exclusive Agile Marketing techniques.
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