– By Kamna Hazrati
Are you aware that spending on advertisements might help your company reach out to a larger audience? You may place your business at the forefront of your target audience’s minds by running ads as early as today. If you don’t have a festival advertising strategy in place, it’s never too late to start. You should consider raising your ad spend during the last two months of the year when planning your Festive promotions.
Why?
In addition to the fact that it’s the perfect time to be proactive in getting your organization in front of the relevant people since they’re in the mood to spend and squander, the competition is also stiffer throughout this time. Advertising during this time enables a company to connect to a wider demographic and present them with its offerings and services. As a result, the visibility & sales of the company improve, allowing it to generate better revenues. Here are some of the variables that will compel you to spend extra money on holiday advertising:
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An increase in the presence of ads during festivals
According to surveys, during the festive shopping season, ad engagements increase by 50 per cent, click-through rates increase by 100 per cent, direct traffic increases by 150 per cent, average order value increases by 30 per cent, and discussion rates might reach 60 per cent. These figures indicate that your advertisements will be noticed more frequently over the holiday season as the public is more interested in shopping in this time period. Consequently, the ads receive more interaction and convert a greater number of individuals.
To meet the growing competition
While there is only limited availability of ad space available, hundreds of organizations in your category will most likely fight for the same visibilty as you desire. To put it differently, your conventional advertising strategies might not suffice. Another issue you’ll confront is preventing your adverts from capsizing in a deluge of advertisements and promos. As a result, corporations believe it is acceptable to boost their advertising spending to remain at the forefront. Hence , making your ad stand out is critical to your operations, it could be in the form of a eye-catching design, an interest-invoking ad copy or purely the audience to which this ad delivers. Hence, as a business or brand owner, a very important aspect is design and delivery via customer segmentation.
Managing excess stock
As a business owner, you understand how critical it is to sweep out and dispose of as much excess product as possible before it becomes outdated and not worthy for the coming season. Increased advertising budgets over the holiday season are an excellent approach to inform your intended audience about your products and push them down the aisle with festive discounts and offers. The more people that know about your season sale, the more sales you’ll have. Consider, this might be your ultimate opportunity to market your remaining merchandise.
Final words
The festive season invokes a sense of splurging for all consumers. Retailers, independent contractors, and small business owners should plan their advertising budget and spend more in the last quarter of the year regardless of what kind of business they own. The holiday season is the perfect time to spend more money. You can compensate for your advertising costs by increasing sales during the shopping season. The end result is that it will give you the edge over your competitors, let you keep up with consumer shopping trends, and allow you to maximize your advertising efforts in the upcoming season. However, spending more does not necessarily translate into better results or increased sales. Hence, spending money strategically is the way to go instead. The effectiveness of your advertising depends on reaching your intended audience. The reach and frequency of ads play a crucial role in determining their performance. In spite of the fact that many marketing campaigns focus on reach, your ad’s frequency can make a significant difference in whether your audience remembers your brand and takes action. Take advantage of the benefits in the coming months by acting on your ads strategy now.
(Kamna Hazrati is a Business Consultant and Advisor and Founder at KH Advisory)