If you haven’t overhauled your holiday marketing strategy in recent years, now is the time to go for it. Find out how to diversify your holiday marketing to increase your customers and revenue this holiday season.
With Christmas fewer than 3 months away, retailers are beginning a promotional grind to the end of the year. From social media campaigns to prime advertising, the war is on to capture buyers’ attention and get customers through their doors. If it’s been a couple years since you diversified your holiday marketing, you may be leaving important opportunities on the table.
Not only should you be reaching out to your established customer base, but you should also be considering the myriad ways to attract new buyers and using the holidays to expand your customer base throughout the year. Here are four creative ways to think about diversifying your holiday marketing.
Conduct a Data Assessment
The best way to start a holiday marketing diversification campaign is by evaluating what’s already working. Take the time to look at your data from last year—or the last few years, if possible—and determine what channels customers have found you through. How much are you spending on each one? If a channel has been particularly profitable (for example, if many customers are coming to you through social media), now may be the time to double down your investments. At the same time, if you are investing heavily in an area that’s not seeing returns, cutting spending there can allow you to try something new.
It also helps to take a step back and look at the 30,000-foot view. Are any areas of your marketing plan oversaturated? Sometimes, you can spot gaps just by seeing everything you’re doing.
Partner with Influencers
While influencer marketing has been a hot trend for the last few years, many brands only give the avenue attention during new product launches or other specific campaigns. Influencer marketing can be a great way to reach new buyers during the holidays and add an authentic feel to your brand’s voice in the market. Consider whether an influencer partnership could help you develop new creative and speak to gift buyers in an effective way.
Level Up Social Campaigns with Advertising
Social media marketing can be a great way to reach out directly to consumers during the holidays. And if you’ve been relying primarily on organic content, the holidays can be a smart time to invest in advertising. Choose a targeted campaign objective such as driving traffic to your website or cultivating interest in a specific product. This will help you quickly see whether you are garnering a return on investment (ROI)—and from there, you can scale your social media advertising as appropriate.
Find Areas Your Competitors Are Not Investing In
The challenge for holiday marketing is that you and your competitors may be utilizing the same channels for your marketing. Take this opportunity to think about diversification as a way to reach new buyers. For example, a retailer that uses community advertising and social media might find that content marketing or working with influencers helps it stand out from the competition. The more you can expand your reach into areas your competitors haven’t touched (or are only lightly using), the more your brand will stand out this holiday season.
The holiday marketing season is a great time to invest in strategies that you know are working. However, the potential ROI also opens the door to conversations around diversification strategies for your overall marketing mix. Take time this holiday season to find out what’s working, and look for opportunities to reach new buyers. The impact to your bottom line will be well worth the investment.