If you’re like many sellers, you put emphasis and care into your holiday sales efforts. However, do you extend that through New Year’s with your specials, deals, and campaigns? If not, you’re leaving money on the table. Not only does it follow a period of heightened consumerism, it is a time when consumers are not only reflecting on the past but also looking forward to the future. This mindset is key for unlocking further sales at the end of the calendar year.
In this article, we will explore the significance of New Year’s deals, explore best practices, and underline why every ecommerce seller should harness the potential of New Year’s deals.
The Power of New Year’s Deals: A Prelude to Growth
New Year’s signifies a fresh start, reignited convictions, and a sense of renewal. It’s the perfect occasion for ecommerce sellers to tap into this collective enthusiasm and provide customers with enticing offers that help achieve these goals. Properly designed campaigns targeted to this audience can be the boost to your ecommerce performance to help you toward your New Year’s goals.
Why? Several reasons:
- Consumer Expectations: Consumers have come to expect special deals and promotions during the New Year’s holiday. Failing to provide these deals can result in missed opportunities and potential customer dissatisfaction.
- Boost in Sales: New Year’s deals can significantly boost your sales. According to the National Retail Federation, consumer spending during the New Year’s holiday season has steadily increased in recent years. In 2022, consumers spent an estimated $960.4 billion, up from $889.3 billion in 2021, an increase of 8%. Simply, this surge in demand is critical for your business.
- Brand Loyalty: By offering great deals, you not only attract new customers but also reinforce the loyalty of your existing customer base. When people feel they are getting value for their money, they are more likely to return for future purchases.
- Competitive Advantage: If your competitors are offering New Year’s deals and you are not, you risk losing customers to them. By actively participating in the holiday season, you maintain a competitive edge in the market. After all, in 2021, online sales during the holiday period grew by 38.6%, reflecting the growing trend of consumers turning to online shopping for their New Year’s purchases. If you’re not there to fulfill this demand, others will.
- Showcasing Your Products: New Year’s deals allow you to showcase your best products and services. You can highlight the features and benefits of your offerings, enticing customers to explore your product range.
Best Practices for New Year’s Deals in Ecommerce
Now that we’ve established the potential of New Year’s deals, let’s explore some best practices to ensure your ecommerce business makes the most of this opportunity:
Plan Early: Start planning your New Year’s deals well in advance. Research market trends, assess your inventory, and set clear goals for your campaign. Early planning allows you to create a comprehensive strategy and marketing plan.
Segment Your Audience: Not all customers are the same. Segment your audience based on demographics, past behavior, and preferences. Tailoring your New Year’s deals to specific customer segments can increase engagement and conversions.
Leverage Social Media: Engage with your audience on social media platforms. Create visually appealing content and run targeted ads to reach potential customers. Use popular New Year’s hashtags and create posts that resonate with the spirit of the holiday.
Email Marketing: Send out email campaigns to your subscriber list. Tease your New Year’s deals and create a sense of anticipation. Provide exclusive offers to your loyal customers to make them feel valued.
Partner with Influencers: Collaborate with influencers in your niche. Influencer marketing can help you reach a wider audience and build trust with potential customers.
Provide Excellent Customer Service: During the New Year’s holiday, customers may have questions or concerns. Ensure your customer service is top-notch, with quick response times and a helpful attitude.
Analyze and Adapt: Continuously monitor the performance of your New Year’s deals. Use analytics tools to track sales, conversion rates, and customer behavior. Adjust your strategy based on what works best for your audience.
Rely on Experts: If you want to make the most of your efforts, use the best the industry has to offer. Flywheel 2.0 is the leading predictive AI tool that saves brands time and money. Using near real-time data, Flywheel optimizes every one of your ads and product listings every hour. With new updates coming out regularly, Flywheel does what others can’t. See how you can use the best AI software to help you save time and money, so you can focus on what you do best: growing your business. Get started with a no-risk, 30-day trial.