Last year, we helped a variety of retailers in different sectors with different target demographics ensure that they survived the post-Christmas slump. Below are some of our most effective, tried-and-tested marketing techniques to ensure your revenues don’t dip too much in the new year.
Utilise your data
In the run-up to Christmas, it’s likely that you will have acquired new customers and mailing list subscribers. January is a great time to analyse and tidy up your database and get your welcome emails and introductory discounts (if you so desire) sent out to incentivise purchases, particularly if marketing and advertising budgets are tight. If you use marketing automation, make sure the new data is segmented properly and analyse the emails you sent out before Christmas to determine which tactics worked best and incorporate similar tactics in your 2017 strategy.
Optimise your campaigns
If your marketing budget is tighter after Christmas, analyse which advertising and paid campaigns are working well and cut back on ones that aren’t. It’s easy to let things slip during a busy period, but cutting back on waste in January can help you to achieve much better ROI, streamline costs and ensure your budget is used effectively. Think about the people you are targeting with different campaigns - are they going to be spending after Christmas? If this is unlikely then cut back spend on those campaigns and run pay-day specific deals, for example, instead.
Negotiate when buying media
You won’t be the only business reining in your budgets in January, so use this to your advantage and make sure you negotiate when buying media. Make media buying contacts aware if you can fulfil tight deadlines, as often other businesses will drop out of advertising or competition slots at the last minute, and this is when you are most likely to be offered a reduced rate.
Run an exciting competition on social media
There is nothing more depressing than the January blues and what better way to get your customers’ attention than by running an awesome competition to uplift their spirits and generate a buzz around your brand?! Try to avoid giving anything too generic or unrelated to your business though (giving an iPad away if you sell dog grooming accessories, for instance), as you are unlikely to attract future customers. A good example would be to give away a 5 lots of £100 spending sprees on your clothing site. Make the conditions of entry something that will encourage social media users to share with their friends, as this will increase your reach. ‘Tag a mate’ on Facebook or retweets on Twitter are simple but effective ways of running competitions.
Offer to donate a percentage of sales to charity
If you really want to stand out from the competition and give something back to the community in January, consider donating a percentage of your sales to a charity. Not only will you be helping a good cause, you will also benefit from positive PR around your brand and customers who value the charity you choose will be more likely to purchase from you than competitors.
Run a series of ‘one day only’ discounts on specific products
Use data from December to pick the hottest products (that still have decent stock quantities left) and run a campaign on social media and via banners on the website that offers one product each day for a discounted amount. The discount has to be significant enough to attract attention and get discussion going, so consider items with better margins.
If you can, use ‘real-life’ shots of the product you’re giving away as they often get better engagement. Even if you just get someone to hold/wear the product in the office.
Whichever campaigns you decide to do, make sure you use UTM codes to accurately track which are driving visits and sales to your website. Such data will be incredibly useful for when you’re in the same situation next year, and you will have better insight into where to direct your budget.