As we approach the end of the year, companies start evaluating the year’s marketing efforts to begin planning for the following year, which can be a bit of a juggling act. Just as it is crucial to look ahead, it is equally important to not lose focus on the present. Many have a tendency to overlook their marketing efforts during the home stretch, causing a decline in fourth quarter marketing campaigns. The good news is that by staying the course, your brand could potentially gain a competitive edge over others in its space and increase fourth quarter earnings.
Look Ahead, But Stay in the Game
Some companies find themselves with additional budget at year’s end, and instead of investing in the present, they opt to carry those dollars to the following year. However, with 2.7 million more people working this year, it is important not to discount all of the additional holiday shoppers. Your brand shouldn’t be passed up by a lack of visibility, as your customers are out there looking. 2014 holiday sales are expected to increase just over 4% from 2013, at $616.9 billion. With a clear brand message and strong quarter four marketing, your brand will remain top of mind during the holiday season.
Holiday Marketing Strategies: Consumers are Actively Spending in Q4
Overall, consumers feel better about where they stand financially, compared to a year ago, and can stretch their holiday dollars this season. That said, they are still actively looking for sales, coupons and other promotions. The “What’s in it for me?” mentality has not dissipated entirely, although this year consumers are more likely to be shopping for others than for both loved ones and themselves. Throwing in the towel early this year on your holiday marketing strategy can result in your customers shopping elsewhere, and with the uptick in holiday spending beginning with Thanksgiving weekend, that is not something your brand wants. Plans to shop on Thanksgiving Day and evening rose to 45% from 38% last year.
Invest in Your Business Marketing Strategy
All the buzz around the increase in consumer spending this holiday season is not phasing mega retailers like Walmart and eBay, who have each cut their sales forecast for the fourth quarter in preparation for savings-crazed consumers. “We are so discount-driven as a country when it comes to shopping, and really only willing to spend anxiously on a handful of categories,” Yahoo Senior Columnist Michael Santoli says. Broad-based retailers do not know if the traffic is going to be there, especially when the discounting gets very aggressive. Macy’s, whose doors will open to the public at 6pm on Thanksgiving day, disagrees.
Interested in bolstering your fourth quarter earnings with the help of a holiday marketing strategy? Contact Women's Marketing, Inc. today or give us a call at 203-256-4188 to discuss your options.