Holiday Marketing: What Are You Going To Do?
It's not just retailers who need to plan ahead ...
According to the Office for National Statistics, roughly £88.4 billion was spent last Christmas, £42.5 billion during Easter and £28.2 billion during Valentine's Day. This is clearly important to retail businesses ...
Holiday marketing is not just important to retailers, any business who plans ahead can benefit!
copyright: evgenyatamanenko / 123rf stock photo (licensee)
Equally, if you are in the tourism industry then knowing that the number of international tourists coming to the UK rarely slump, but do go up and down by some 500,000 people nationally, depending on which month of the year, is important.
As is knowing that the UK has averaged around 3m visitors per month, every month, since April 2015. Each industry will have similar statistics that you can use to help you to plan.
Holidays, seasonal celebrations and key dates are clearly a significant opportunity for your business, especially if you are a retail business, but actually this is important for every business.
There may be particular days or calendar events, other celebratory or special days that are relevant to certain industries. Which ones are relevant to you and what are you going to do about this?
"Remember the 5 Ps? Prior Planning Prevents Poor Performance!"
Preparing your promotions ahead of time, giving you time to plan your marketing and your staffing or other resources early. This will allow you to take full advantage of these busy periods.
If you are a small business, then while national statistics give you general information, they aren't necessarily everything you want.
Try looking back through your archive of bookkeeping data:
What did you do last year and the year before?
Where were the spikes and troughs and what might have caused them?
And very importantly, how are you going to prepare yourself to take full advantage of them over 2017?
Remember the key here is to think ahead.
Like a lot of business things, the role of the business leader is just that, to lead. To think ahead and plan the big picture of where the business is going and, once you have an overall plan, you can then push your plan down to your team for them to work on their part of it.
Obviously, if you have a small team, then you will have to break it down into component parts for them to work on, whereas, if your business is split into departments, then you can get each department to work on its part in the plan.
"If you don't have a marketing plan, then maybe it is time to put one together!"
Remember, just because you are the business leader, it doesn't mean that you are expected to be an expert marketer as well. There are lots of marketing specialists that you can bring in, either to help you put a plan together and/or to implement parts of your plan.
And why is an accountant blogging about marketing plans? Well, it's simple. A big part of being in business is sales and marketing, and if you want to get a better set of numbers in 2017, you might well need to do some different types of marketing if what you're currently doing isn't producing great results.
If you need help to review your business and where it is going then get in touch and if you need help in marketing as part of that then we can signpost you to some useful people.
So call us on 0333 335 0422. Go on, you know you want to! Or you can click here to send me an email whilst you are thinking about it.
Until next time ...
I've been an accountant in and for business since 1987 and have a wide experience of consultancy, audit, accounts, taxation and wealth planning work from individuals and small businesses to multinational corporations and charities.
My eclectic interests in growing and developing business span a number of areas … and can be summarised as strategic business advice and tax saving advice.
I have worked with the Chamber of Commerce to deliver courses for people about starting up in business and have lectured about tax for a major accountancy practice and for Milton Keynes College.
I relax by reading fiction and by getting away from the office in a campervan.