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Advertisers and consumers are always on the lookout for opportunities to seize!
As advertisers want to increase their revenues and profits, while consumers want to find the best deal they can get. That is why both are very attentive to sentimental holidays or anniversaries. And with the beginning of this year, the first opportunity is just around the corner, with its flowers, heart themes, and cupid arrows dominating the scene!
Of course, you’ve just realized which occasion we are talking about! It’s Valentine’s Day when love is in the air, and everyone is searching for a gift or a deal to hunt.
But how exactly can you make use of this opportunity? How can you craft a well-tailored marketing strategy that will drive sales to your business? And how can you develop creative ideas that resonate with your customers and elicit their emotions and buying behavior while avoiding stale and worn-out ideas?
In this article, you will get to delve deeper into consumer insights and strategies that can help you make the best revenue out of Valentine’s Day.
So first, let’s have a deeper look at consumer behavior during such occasions!
- More than 80% of Valentine’s Day shoppers purchase gifts for their loved ones with a discount. While 60% of them are unhappy with the available discounts.
- 55% of Valentine’s Day shoppers rank product discounts as the first driver that makes them buy.
- 34% of consumers appreciate Special expedited shipping
- 30% of shoppers look for better return policies during Valentine’s.
- 26% of consumers look for free samples with their purchases.
- 20% of consumers like complimentary gift wrapping.
Now that you know how consumers behave and their preferences during Valentine’s Day. It’s time to learn more about the situation around the world and gain some insights into economic analysis to help you plan smartly!
Every advertiser needs to face the idea that consumer spending hasn’t been the same because of inflation and economic situations around the world. As 2023 hasn’t been the best year economically. Although inflation has dropped, it’s still a bit unstable, which has resulted in rising prices and consumers becoming more hesitant to increase their spending. According to Euromonitor, it was found that 74% of consumers remain concerned about the rising costs. Consequently, 44% of consumers plan to save more money, and 52% have cut back on non-essential spending.
The situation might seem tough, right?
But don’t worry, cause we are going to pack you with the right strategies to help you beat these challenges and obtain your ultimate profits this Valentine’s Day!
10 Valentine’s Day Marketing Strategies:
1. Craft your marketing campaign and Valentine’s discounts for both types of shoppers!
As a business owner or an advertiser, you need to start your marketing campaigns early, from the 31st of January and the beginning of February, to catch the early and organized shoppers who plan for their Valentine’s Day gifts early. It was found that 52% of Valentine’s shoppers are organized shoppers. So you will need to prepare your website and marketing campaigns with Valentine’s themes and discounts. While you can target last-minute shoppers through extended offers, express shipping, and gift cards.
2. Amplify your social media usage during this love occasion!
Social media can help you connect with your customers and enhance your visibility and sales during Valentine’s Day, especially between Generation Z and millennials. It was found that 60% of Gen Z and 56% of millennials would do some of their Valentine’s Day shopping via Instagram, TikTok, Facebook, and other social media channels. It was also found that the most used words associated with “Valentine’s Day” on social media are “ shop” and “gift”, with 131.17% more frequent than the keyword “love”. It would also be wise to partner with influencers during Valentine’s, as they can help spread the word about your offers and add fun and a sense of storytelling to your promotions.
3. Add an extra layer of experience!
Give your shoppers experiences, not just products! It was found that one-third of consumers gave a gift of experience on 2023 Valentine’s Day. What does this mean?
It means you need to think outside the box now; consumers won’t settle for ordinary and normal presents and gifts for their loved ones; they are looking for new experiences and quality time. So, if you can give your Valentine’s shoppers a unique experience, don’t think twice and do it! You can plan workshops for your customers to attend, concerts, or any sort of special activity that fits well with your business nature.
4. Create limited-time discounts.
As mentioned before, consumers wait for special occasions to get discounts and enjoy good deals. Also, you need to overcome the challenge of reduced spending, as 50% of customers confirmed that they would be spending less this year on gifts. So you need to create very lucrative discounts that will appeal to them while at the same time having a sense of urgency to elicit them to buy promptly through displaying limited-time discounts that will satisfy their needs.
5. Use SMS marketing.
Did you know that the SMS open rate is a staggering 98%?!
Astonishing, right? You need to take this to your advantage and incorporate SMS marketing into your marketing strategy this Valentine’s. Reach out to your customers with discount offers on Valentine-themed products, specific product categories, or even on all the products you have. Actually, it’s a perfect way to retarget your old customers with a personalized offer that fits their preferences.
6. Show your customers extra love with Loyalty programs!
Use Valentine’s Day as an opportunity to thank your loyal customers and return the favor to them by giving them exclusive discounts and making them feel special.
You can offer double points for their purchases before Valentine’s Day, so they can use these points during Valentine’s Day. You can also give them a free Valentine’s gift with their purchases. Furthermore, you can waive the shipping costs for a specific period of time. However, don’t forget to stress urgency and exclusivity while doing all this. This way, your loyal customers will feel special, precisely how they should feel on such a day.
7. Don’t forget the singles!
Valentine’s Day is not just about couples and romantic partners anymore!
You need to promote self-love, friends, family members, and pets as well!
People now celebrate Valentine’s Day differently; they take it as a chance to show their love to their family members, friends, and even their pets. It was found that 45% of shoppers spend their money on gifts for non-romantic recipients, varying from singles who want to treat themselves to individuals who wish to share their love with friends and family. So consider Valentine’s Day as more than romantic love.
8. Upselling and cross-selling are your Valentine’s friends!
One of the best Valentine’s Day strategies is upselling add-ons. You can upsell a fancy gift box or premium services like expedited shipping for last-minute buyers.
You can also cross-sell complementary products such as chocolate boxes or greeting cards. This strategy can deliver a better experience for your customers as they can get everything they need for a gift in just one click, while at the same time increasing your sales and revenues.
9. Use Referral programs to boost your sales and WOM.
Get your customers to share their love by giving them a referral code with a discount. This can drive new customers to trust you and buy from you. It was found that 90% are likely to buy from a friend or family member they trust. So you can capitalize on the circulating feelings of love by promoting your referral program as a part of your Valentine’s Day promotions.
10. Highlight your delivery dates.
In business, ensuring the visibility of your delivery dates, particularly during the Valentine’s Day shopping season, is crucial. Customers usually seek assurance regarding the arrival of their gifts, especially when it involves special occasions like Valentine’s Day. By clearly presenting your delivery dates and available options, customers can plan effectively, minimizing the likelihood of disappointment or frustration. So you can go the extra mile and display these 3 delivery options:
- Same-day delivery
- Expedited shipping.
- Guaranteed delivery by a specified date.
Put in your mind that fostering transparency about your delivery schedule enhances customer confidence and satisfaction, contributing to a positive shopping experience. Consider it as providing your customers with a clear guide or roadmap, facilitating their Valentine’s Day shopping journey conveniently.
For other occasions guides:
Earn Big on Black Friday through Affiliate Marketing
Conclusion
Valentine’s Day comes with a lot of opportunities to increase your profits, but you need to plan it carefully and consider your consumers’ needs to address them correctly, Using smart and creative marketing strategies can do the magic.
