I think we have all heard or seen the latest reports that "Analyists: Prepare For Tough Holiday Season". My thoughts are that it will only be tough if you don't help your clients identify some key strategies to engage consumers now and for the remainder of the season...
"The Experian report, "The 2009 Holiday Marketer: Benchmark and Trend Report," indicates that younger adults are using coupons at higher rates than they did last year, while older adults are taking advantage of more incentive-based offers such as free product with purchase and cross-sale promotions.
Free shipping emails garner the highest open and click-through rates, while shorter expiration dates on these types of offers lead to higher conversion rates, according to the report.
The three main vehicles that drove more than half of the traffic to retailers' Web sites last shopping season were search, email and other retailers. Almost half of all purchases from catalogs are made during the last two calendar months of the year, with women making more purchases than men and households without children making more purchases than their counterparts.
Over the past four years, the highest market share of Web site visits occurred on Thanksgiving Day, followed by Black Friday.
Marketers who incorporate data and careful planning into all holiday initiatives will help ensure strong sales and lasting customer engagement, says Matt Seeley, president of Experian's Marketing Services Platforms. Having the right customer insight will provide an understanding of shopping behaviors and preferences of the target market.
"Analyzing current trends coupled with understanding your customers' needs and behaviors is the first step to putting your company, products and services on your target customer's radar," Seeley says. "Actively engaging them across all channels this season will help marketers work smarter. Companies that rely on best practices and qualitative analytical insight will drive customer engagement during the 2009 holiday season and beyond."
According to Nielsen, retailers need to recognize that U.S. consumers are seeking value and will start their holiday shopping well before Thanksgiving.
"They should also reach out to their best customers and make them feel special and give them a reason to shop at their outlet during the season and into 2010," according to James Russo, Nielsen's vice president, global consumer insights. "Successful retailing has always been about delivering the right product at the right price and in the right place. The difference now is effectively mining and communicating to the right consumer as an active participant in driving growth."
So are you positioned to offer various channels to your clients? Can you offer them the Broadcast and Interactive Channels, E-mail, Texting, Video, Loyalty Rewards, & Coupons that it takes to round out their campaign? Get to work and help your clients by providing solutions, not adding to the negative press over the season.