He loves me, he loves me not, he loves me, he loves me not…oh, the joys of Valentine’s Day, or Hallmark Day, or Forced Affection Day – We all have different names for it. In other words, some people love it and some people detest it. Why? Well, it’s a lovey-dovey holiday and an unwanted reminder of your relationship status…or maybe just mine.
So Valentine’s Day means different things for different people, but what does it mean for big companies? Lots and lots of $$$$$. Valentine’s Day is a 17 billion dollar business!! Who spends most of this money? Men! From little things like teddy bears, chocolates and flowers to more expensive romantic dinners, jewelry and one-night escapes, it all adds up!
All you marketers out there, have you prepared your product/service offerings to cater to this special occasion? With endless revenue opportunities, why wouldn’t you? The art of marketing revolves around releasing an amazing offer that people can’t resist and luring them in to buy from you in the future. Time to put your marketing hat on!
Want to see Valentine’s Day earnings and behaviours from 2012? Check out this infographic courtesy of Mashable.
Here are a couple of Valentine’s Day marketing no-nos.
Not planning ahead
Your consumers are allowed buying things last minute, but you are certainly not allowed planning things last minute. Sorry to burst your bubble!
- Depending how big your campaign/initiatives are for this occasion, it is most likely you’ll be planning 1-2 months in advance to execute everything properly
- Many retailers/services offer their Valentine’s Day products/specials in early January. I know, it’s difficult to think about Valentine’s Day, when Christmas just passed; but, it’s all about competition, and who offers the best, and offers it well.
Being dull and limited
Make sure to switch up your campaigns and product/service offerings each year. Sure your idea may have been great last year, but people get bored fast and like to see new and improved.
- Make your product/service offering available through multiple means. On your website you can create promotional CTAs and landing pages (this will help with content generation and SEO), have a splash page etc.
- It is also a great idea to hold a contest on your social media outlets (Ex. Instagram). Coupons and/or discounts are great tactics to gain followers and increase brand loyalty and sales. You could also use your other social media accounts (Facebook, Twitter, Pinterest, etc) to get people to your website to obtain this special offer.
- Have a larger budget? Stir some buzz by creating a YouTube video to promote your offering in a fun/humorous way (depending on the nature of your business of course)
- Don’t forget to blog about your special offering!
Here’s a Valentine’s Day fun fact for you: Every year, consumers spend roughly $367 million on Valentine’s Day gifts for their pets. Wowza! Perhaps another market opportunity for your business?
What sort of marketing have you done on Valentine’s Day? Has it worked for you?