To Maximize Holiday Sales Start Planning Your Marketing Early
A disproportionate amount of spending happens during the holidays among brands and consumers. Retailers slash prices with the expectation that holiday promotions will motivate shoppers to buy more of their products as gifts for family and friends. Companies invest heavily to promote the sales they are having. But is it enough?
Earlier this year, the National Retail Federation reported a 4 percent increase in 2014 holiday retail sales totaling $616.1 billion. Businesses that fail to maximize the holiday shopping season miss a huge revenue opportunity. Brands that invest only a small portion of their budget on timely, seasonal ads flounder while competitors with bigger budgets win the wallets of consumers.
During the holidays, companies have a chance to capture loads of new customers. Ad impressions get a 50 percent boost, CTRs skyrocket 100 percent, direct traffic grows 150 percent, average order values rise 30 percent and conversion rates increase 60 percent. But few marketing budgets can accommodate such dramatic growth in market opportunity. Indeed, one of the secrets of holiday success is spending a disproportionate amount of your marketing budget on festive advertising. Another thing brands should do is prepare for the holidays early, and celebrate them sooner.
