The holiday season is undoubtedly the most exciting time of the year and for many businesses out there it is the time to make the most revenue of the year. But how can you ensure that you are making the most out of your holiday promotional campaign without slashing your price by 40 – 50% like other competitors and still sustainably retain a healthy profit margin for your business?
Today, we want to share with you 3 tips that can be implemented in this year’s holiday campaigns.
When it comes to your business, you have to think about brand positioning.
Brand positioning is all about what makes your brand unique and different from other companies in your industry. It’s about how you’re different from your competitors—and how you can tell the world what makes you special.
If you don’t want to find yourself in the race down competing on price, you need to focus on positioning your brand as a premium, exclusive & high-end service rather than focusing on competing on cost. When you position your brand as being high-end and special, that’s when people start associating those qualities with all of your product offerings—and they’ll pay more for them.
Questions to ask yourself:
Focus less on what you are selling and more on the benefit/value that your product & service can provide. Then, bundle up those benefits and sell them as a package.
When it comes to marketing your products, there’s a lot of focus on what your product is and not much focus on what it can do.
You need to shift that mindset, because what your customers want is the value that you’re providing them. They don’t care about the product itself—they care about how that product helps them.
So stop talking about what you sell and start talking about the benefits and value it provides.
Holiday season is here, and you’ve got to make the most of it.
Instead of always focusing on acquiring new clients, focus on wowing your existing clients. Focus on offering your existing clients more incentive/reward during the holiday to boost loyalty and brand retention!
This can be done by:
-Offering promotions and special deals exclusively for loyal customers/clients
-Hosting holiday events that are exclusive to your best customers/clients
-Creating a loyalty program that gives incentives to customers/clients to continue to come back and support your business.
While the holidays can be a great time to get new business and make a profit, you’ll want to make sure that your business doesn’t take a loss. With these tips in mind, you can keep your business in the green while giving customers a genuine experience they won’t forget. Remember: Customers who already purchase from you aren’t on a hunt for the latest deals. Use the holiday season to strengthen your brand and make your business more valuable. Your customers will see you in a better light when they get a little festive cheer along with their purchase.