Valentine's Day... one of the
most romantic holidays of the year, how can SME’s maximize the opportunity to claim
their share of profits? Valentine's Day isn't an exclusive affair restricted to
retailer of any kind of business, such as florists and chocolatiers.
Timing
is everything
The secret to an effectively building
connectivity with Valentines and your brand is to start early. Typically, women
are shown to start their shopping earlier than men so starting your campaign
early will target these customers. Many retailers will start as early as the last
week in January to start building hype around the year's first business event. Create
a sense of event through music, decorations and balloons.
Getting people over the threshold
is half of the battle. Creating an engaging with window display will entice people
in, allowing them to make purchases. Window dressing is a powerful tool when drawing
foot traffic, giving you the chance to tell a story, make your products the
point and build your brand. There's no limit to how out there you can go, get people
talking, tweeting and sharing! Obviously, if you are less creatively inclined,
keeping it simple can be an equally effective way to elegantly showcasing your
products.
The same principle applies to
your online store. Update your site to integrate a valentines theme, discounts
and promotions. Include a countdown clock to add a sense of urgency to promotions
and discounts. The Royal Mail conducted a survey which showed one in every ten
online customers abandon their baskets before making a purchase.
Social media is a great free advertising
tool allowing you to build relations with your customers. Twitter is a great
platform for sharing snippets of stock with your current and potential customer
base. Consider creating a teaser campaign on the development to Valentines to generate
interest in any promotions you plan on running. Sharing pictures, cryptic
messages or competitions can go far in creating interest. Encouraging your customers
to share content of your products, for example, pictures and testimonials adds
to your social impression. A small themed gesture, for example, heart shaped baked
good's, or complimentary discounts on specific products will boost your customers
to upload content to your social media platforms.
This is also a prime time to build
your email lists, standing you in a good stead for the coming years customer events.
Encourage people to sign up for newsletters and site updates. You could have a signup
sheet by the till or note the site and social media details on the receipt.
Customers will for the most part be more inclined to do this if they feel they're
receiving something in return. Exclusive offers for email subscribers, for
example, discounts and promotions are certain to see a boost in engagement.
Convenience
is Key
Historically men are more
inclined to leave their Valentine's shopping to the last minute but they also
ready to part with more money, making them a retailer's closest friend. Financial
site, Evolution money, reports men spend a normal of £40 on Valentine's gifts whereas
women will spend simply over a half of that. The key to targeting this demographic
is convenience.
Many men will often succumb to
the mounting pressure, holding up until the last hour to get their gift. This means
they want quick and simple purchase decisions and are happy to pay an extra
premium for the convenience. There are many ways to do this, on both your online
and offline stores.
Creating a gift guide for your
online store assist overwhelmed customers valuable purchase options. Suggesting
complementary products and including customer reviews will help turn browsers
into purchasers. Again, tapping into the psychological of the customer and
offering discounts or promotions will drive purchases. People are more inclined
to buy if they believe they are getting a good deal.
Novelty budget friendly gifts
should be close to the counter. These are the type of products people don't seek
out but will buy on impulse if they grab their attention. Committing an area of
your shop to Valentine's display can highlight key things making it easier
customers find inspiration. This will be more successful in pushing bigger or more
expensive products.
Conclusion
The commercial value of
valentines runs into the millions and the traditional retailers we partner with
the day are probably going to come out tops. In any case, this is a ripe
opportunity jump on the bandwagon with the shamelessly market your business. Customers
are primed to spend, so getting your brand noticed, both on the street and on
digital platforms can secure long term custom.
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