The most romantic day of the year is just around the corner– Valentine’s day. A highly anticipated holiday for married couples, partners, and dating singles alike. And just like any other holiday, people are spending more money than usual to make their loved ones feel special.
Valentine’s day isn’t just an ordinary celebration but a $19.6 billion extravagance that is expected to surge even more as millennial spending power increases. As a small business, you can hop on the hype train and take full advantage of people’s shopping frenzy. However, competition is tough because every business, regardless of industry, is trying to get a slice of the market.
From knowing your target market to offering unique marketing campaigns, check out these simple but highly effective valentine’s day promotion ideas to help boost your sales.
Leverage on FOMO
More commonly known as FOMO, or Fear of Missing Out, is a psychological trigger that persuades people to stay connected with what others are doing. In simple terms, it’s a form of social anxiety characterized by a fear of regret. Whether you want to admit it or not, nobody wants to be left behind. And you can use this to your advantage when offering valentine’s day promotions that are exclusive only to this event.
But, keep in mind that FOMO needs to be utilized correctly, otherwise it can lead to feelings of apprehension and controlling behavior. To make FOMO effective, you should convey a marketing campaign with a sense of urgency. A unique promotion that is available only for valentine’s day, better if you can make it a “this year only special”. Here are some ways to do this:
- Show stock levels to highlight product or service scarcity.
- Let your promotion expire to create awareness and validate reality.
- Inform customers with on-going promotions via push notifications and social media updates.
Utilize digital marketing
Today, everything is done digitally, even encouraging customers to make purchases can and should be done through the internet. Remember that without proper marketing, customers won’t know about your business at all. Utilize digital marketing for a more effective and affordable way of reaching customers.
One of the most effective ways to do this is through email marketing campaigns to advertise your products and services. Sending an email is by far one of the cheapest ways to communicate with clients. The trick here is to send email promotions with enough time so people can plan gift ideas ahead of time.
You could also send text messages to customers to subscribe to company updates to publicize your offers, just get a little creative and formulate a romantic text to pitch in your sales. Likewise, don’t forget to harness the powers of social media.
- Capitalize on people’s attachment to their mobile phones.
- Use Instagram, Twitter, and Facebook to share valentine’s day gift ideas.
- Make sure to promote specific offers in line with valentine’s day celebration.
Related article: 5 Email Marketing Tips for Reaching More Customers
Make the message meaningful
There are tons of valentine’s day promotion ideas out there but most of them are centered towards boosting sales and increasing brand awareness. While it’s equally important to think about the sales of your business, don’t forget the real meaning of love – considering the happiness of other people. Don’t forget that nothing is more moving and touching than sharing what you truly love.
Valentine’s day doesn’t necessarily have to be romantic, it can be a special event focused on giving love to the community or to those in need. Think outside of the box and establish a partnership with local charity organizations and host a community event. Social norms are shifting and consumers are increasingly prioritizing corporate social responsibility. In fact, one survey found that 90% of consumers say they would buy a product from a company that supports a cause they care about.
- Host a special event on February 14 or even after that day to accommodate busy schedules.
- Encourage your customers to participate in the event in exchange for something special.
- Give out coupons, vouchers, or small freebies to those who attended.
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Focus on female buyers
Contrary to popular belief, it’s not just men buying valentine’s day gifts. Actually 77% of online searches for valentine’s day gifts come from women.
For most women, giving gifts on valentine’s day doesn’t necessarily mean buying something special for their better halves. Many women are also buying gifts for their kids, coworkers, family members, and friends. So, don’t forget to tailored valentine’s day promotion ideas to both sexes. Also, keep in mind:
- The perfect gift might be intangible, like a special dinner or a romantic getaway.
- Dedicate a special section of “for him” and “for her” gifts.
Focus on millennials
Moreover, to increase valentine’s day sales focus on millennials because they are among the biggest valentine’s day shoppers. Millennials or those aged between 25 to 34 years old are willing to shell out an average of $213 on the holiday, whereas those in the 35 to 44-year-old bracket will typically spend no more than $176 for the romantic occasion.
Though, be aware that the needs and wants of millennials are diverse in nature. They have a strong opinion and traditional valentine gifts might not fancy their interest. Before you send out promotional ads and social media campaigns, always conduct thorough research for your target market. When making valentine day promotion ideas specifically catered for millennials, don’t forget to:
- Analyze their spending behavior and how they make a purchase.
- Look at current trends and use that data to increase sales.
- Capitalize on social media platforms to catch their interest and attention.
Valentine’s day is an exciting holiday for both shoppers and business owners. It’s the perfect time for you to try out some creative ideas to capitalize on the day to increase your profits. By keeping these simple, but effective, tips in mind you’ll be sure to bring new customers in the door and keep them coming back long after valentine’s day is over.