With Navratri, the festive season has already dawned upon us. And in just a few more weeks, we will be celebrating Diwali and Christmas. If there is one thing synonymous with festivals in India, then it has to be shopping - buying gifts for family, friends, employees, and clients. Hence, sales at many retailers spike during October and November. Usually, it is seen that the online retailers have a rise in sales of up to 250% during Diwali season.
According to Hindustan Times, last week, Flipkart had claimed that it was on track to double sales from last year’s BBD sale. This indicated gross sales of at least Rs.6,000 crore (nearly $1 billion). The sales figures cited above also include sales from Flipkart-owned units Myntra and Jabong.
What’s your strategy?
This is also the time when the retailers work on their marketing strategies to offer the best discounts in the most innovative way. Like, no one can beat the offers provided by Amazon, Flipkart, and Snapdeal – the big three giants of online retail sales in India.
The marketing strategies adopted by online retailers have changed in the last few years from merely a search engine optimization (SEO), or digital marketing campaign to other creative ways of engaging the customers to augment sales.
New rules of consumer marketing
Today, a customer is extremely demanding. They can easily find out the pros and cons of buying a certain product. Hence, merely having information for them to be able to decide on a certain product is not enough.
Now, the marketing strategy works when the product satisfies the personal need of a customer. The customers of today would like to have the right information available for them at the right time. This can be done if the data of the target group is analyzed correctly and the customers are provided the required information that they need. For e.g. during festivals, analyze the wish lists and then send mailers; as a reminder for the customers to make a purchase of that desired product. Also, advertising certain products on a few premium websites like Facebook etc. can draw in more customers. Along with these, influencer marketing can also work very well and boost sales, when an influencer who enjoys the trust of the target audience can address them to spread your brand message.
Engaging the target audience is an important part of a marketing strategy and what better way to do that than a perfect marketing campaign? If you look at any of the successful advertising campaigns, they usually convey some sort of a story. Whether it is the Cadbury’s chocolates or Amazon, each of these campaigns tell a story that is emotional and instantly connects the audience to the festive spirit. While organizing your marketing strategy, ensure that the branding like your logos, design, colors, fonts, keywords, and hashtags should be consistent on all media platforms. Any inconsistency in design can create an obstruction in your entire campaign and it not being considered as one.
Deals, Discounts & More…
Festival season is all about offers and discounts. To compete well with other sellers, it is extremely crucial that you also provide exciting offers to your customers. But that is not all. It is also important that your offers are spread for a period of time and cover the peak time period e.g. the first few weeks of October are considered to be the best time for sale and offers. So, wouldn’t it be best if you would create a marketing strategy during this period on the products that have sold maximum in the past few years? Big online sellers like Amazon and Flipkart also organize their offers in a similar way. So, you definitely can’t go wrong this way.
Keep an eye on…
Merely starting a marketing strategy is not enough in this season. It is also imperative to continue and monitor the campaign to ensure that the customers are also satisfied. A good example of this was the Flipkart's Big Billion Day Sale in 2015. While the offers they gave were fantastic, but the customers had a lot of grievances after the sale was completed, due to lack of product availability, logistical issues etc. Hence, it is important to have an estimate of the sale expected as per dates and also your plans on when you wish to optimize the sale. At the same time, be prepared for any fluctuation and keep your backup plan ready to manage the same.
So, remember - “failing to plan is planning to fail” – keep this in mind before you start working on your marketing strategy for this festive season.