5 Trends to Help You Beat the Frigid Holiday Spending Forecast
Keep Holiday Revenue on Track with These Strategies for Small Businesses
Temps outside are falling but holiday spending is heating up. It’s time to funnel some of that revenue your way or get left behind like last year’s turkey in the basement freezer.
Here are 5 trends to help your business ring in the holiday season to the sound of “cha-ching!”
1. Pull on Your Ugly Sweater for a Short-Form Video Sesh.
TikTok and Instagram Reels are excellent platforms for reaching customers and prospects in fun, educational ways. Promote big sales, like Black Friday, Small Business Saturday, and Cyber Monday. Take part in trends and challenges (the safe ones) to show your audience your products as well as your personality and build a following that could last well beyond the holidays.
2. Ease Stress from Inflation (and Family Gatherings) with Seasonal Deals.
Nearly 9 out of 10 consumers expect inflation to impact their 2022 holiday spending, with 59% predicting the impact will be moderate to significant. Help budgeting consumers by offering deals and discounts that provide more value for their dollar. Relevant offers and promotions are key to keeping your marketing strategies straightforward and agile and will help to boost customer engagement.
3. Spread Holiday Cheer and Brighten Your Community.
Partnering with local non-profits, schools, and volunteer organizations is not just good for your holiday spirit. It can raise awareness of your business within your community. Sponsor or organize an event and offer discounts to people who sign up to participate. Look at that! You just increased your email prospect list, too.
4. Spend Time Monitoring Your Business Online (Spiked Eggnog Optional).
Whether your business maintains an e-commerce platform or not, it’s important to pay attention to what consumers are saying about you online. Particularly during the holiday season, consumers may try to get in touch with your business through social media, email, or elsewhere. Respond to their comments, questions, and reviews quickly – even when things get busy. Providing a prompt answer about your business’s products or services might convert a hesitant consumer into a loyal customer.
5. Have a Plan & Track Your Budget: It’s Time to Give Shoppers an Experience to Remember.
Tis the season to keep track! Create a plan for your marketing ventures and track spend and return. Keep detailed notes on the campaign elements and engagement so that every placement is a learning and growing opportunity. To help make this easier, try the Dun & Bradstreet handy budget and spend tracker template.*
Some shoppers want the joy of seeing a loved one open a physical gift. Others would rather have that experience while jumping from a plane at 10,000 feet. Whatever shoppers are searching for this holiday, find a way to be there for them when and how they’re ready to buy. The right positioning for your business could end up being much more than a sale. It could be your business’s name mentioned every time your customers tell their holiday stories. You can’t write that into a marketing plan.
Use these 5 tips to ramp-up sales for your small business this season and keep an eye out for more holiday revenue strategies over the coming weeks.
For more small business tips, check out Dun & Bradstreet Perspectives at (https://www.dnb.com/perspectives.html).
*Inspired by https://www.hubspot.com