Advertising 5 Min Read
Don’t Let a Holiday Hangover Affect Your Q1 Budget
Just because it’s January doesn’t mean you should go dark -- keep your budgets strong
We did it! We survived the holiday campaign season. The frantic sell-a-thon is over, and now it’s time to rest up, stop advertising, and find something else to do, right? WRONG. So, so wrong. The new year is full of opportunity, and it’s up to us as marketers to take advantage of it.
January carries its own post-holiday advantages that any smart marketer would do well to leverage. Let’s break those out and see what you can do to help keep the momentum from the holidays on track.
Turn One-Time Purchasers into Loyal Shoppers
The holiday shopping season brings a lot of shoppers out of their shells, and makes them purchase from brands they normally wouldn’t be aware of. This can be a double edged sword; it’s great for the bottom line during the holiday season, but these shoppers tend to not stick around. 64% of retailers say shoppers acquired during Black Friday and Cyber Week have lower lifetime value thanks to being one-time shoppers.
If they make a second purchase however, the chance they make a third increases to 45%. These shoppers are worth pursuing if you can convince them to return. If they bought from you once, they had a need for what you offer, and there’s a good chance they’ll have that need again. Be sure you’re top of mind when they need you again.
For every amazing gift you received during the holidays, chances are you got a few duds. That could be why 58% of holiday shoppers expect to return or exchange an unwanted present. And while this isn’t great for the gift-giver or receiver, it’s good news for marketers. That’s because about three out of four (77%) of shoppers say they are likely to make an additional purchase when making a return.
When a shopper is returning an item, they’re engaged with your brand and are likely to make a purchase. Don’t let that opportunity slip! Entice them to make the most of their experience, and leave your site or brick-and-mortar location with more in hand than what they came with.
Gift Card Purchases
The holidays can be a hectic time, and getting the perfect gift for someone can be tough. So why not just give them a gift card and put the burden of the perfect gift on them? Turns out, that’s what a lot of Americans did.
Gift card sales topped $160 billion in 2018, so chances are your January shoppers will have those in-hand as they’re browsing your site. And, encouraging for marketers, gift card recipients on average spend 20% more than the value of the gift card, meaning there’s a chance for upsells. Your marketing should be ready to channel these gift-card holders into conversions.
Q1 Holidays Exist, Use Them
The Q4 holiday season is over, but Q1 has its own share of holidays to rally around. Seasonal ads are always a good idea, and depending on your industry, creative ads around Presidents Day, Valentines Day, and even the Super Bowl can pay dividends. These ads will perform better because there’s a sense of relevancy and urgency, and merely changing the color or theme of your ad can double your conversion rate on these days.
Don’t Stop Spending in January
While it may feel like a time to pump the brakes a bit, don’t let a post-holiday hangover slow your marketing down. There’s a lot of opportunity available in the early part of the year thanks to the trailing effects of the holidays, and you won’t want to let those slip by. So keep those Q1 budgets strong, and keep pushing well into the new year.