As attention spans get shorter and shorter, brands often fall into the trap of over-discounting their catalogue in the hopes of capturing an impulse sale in a sea of competitors. There is no quicker way to devalue your brand. By training your customers to always expect a discount, you’re subconsciously giving them the impression that they’re actually losing money if they pay full price for your product. Perhaps you’ll see huge spikes on large sales days, but you’ll be hurting for it the rest of the year! A good rule of thumb is to set aside two dates throughout the year where you run significant events for your buyers. This allows you to condition your customer base to look forward to specific events throughout the year, like Gymshark’s “Blackout” day, while not devaluing your brand’s overall pricing strategy.
1) Valentine’s Day, February 14th
Valentine’s Day is an incredibly noisy holiday – spending your hard-earned money is the best way to show that you care, right! But if you sell anything remotely romantic, it can be a fantastic opportunity to tie your brand’s narrative into one of love, family, or appreciation. To set yourself up for success on this holiday, you really need to position your offering with a “gifting” angle.
2) Mother’s Day, Late March/Early May
Mother’s Day is another opportunity to play the “gifting” angle – if you can position your offering as a thoughtful gift for a mother of any age, this can be a home run weekend for your brand. Make sure to double down on your email marketing here! Buying your mum a present is tough enough as it is, your customers will probably prefer to shop from a vendor they already trust!
3) Wedding Season, May – July
The only person harder to shop for than your mother is a newlywed. Summer wedding season can be a gold mine for a relevant brand! Although 2020 is a bit of a wash when it comes to the weddings themselves, it may actually be an opportunity for friends and family to be even more thoughtful with their gifts to newlyweds.
4) Father’s Day, Late June
Similar to Mother’s Day, this event is a great opportunity to double down on your existing customer base through email and SMS marketing. If a buyer loved your product the first time, if it’s relevant to their father, it makes a great (and easy!) gifting opportunity.
5) Back To School, Early September
Back To School is another shopping event that will look markedly different in 2020. However, that doesn’t mean it isn’t still a significant opportunity. We would actually argue that the new remote environment for schools has broadened the opportunity for brands’ to position themselves as a school-related product. If you can market your offering as an at-home necessity, Back To School should be a priority for you in the coming weeks.
6) Halloween, October 31st
Halloween can be a tricky one. If your brand isn’t related to the event, we typically find more success in making themed social posts – but not pouring time into a true Halloween discount. That being said, if your brand is relevant to Halloween, this can often be your biggest weekend of the year!
7) Black Friday/Cyber Monday, November 27th-30th
Speaking of “biggest weekend of the year”…Black Friday/Cyber Monday is the one event that any brand would be foolish not to take part in. With Christmas season fast approaching, bellies filled with Thanksgiving meals (in the US), and cosy Winter months practically in full swing – people are ready to shop. Preparation for BF/CM needs to begin months in advance: new landing pages, new product drops, warm prospecting funnels for paid ads, and email blasts for weeks leading up to the launch so buyers know exactly what to expect. Remember that your offer will be up against – quite literally – the rest of the commerce world. You need to prepare to cut through the noise.
8) Christmas Day, December 25th
Christmas is, of course, a fantastic opportunity for themed social posts, but it can also be a great opportunity to squeeze in some final sales before the end of the year. Depending on your offer, you can timebox your discount before the end of the year and drive urgency during the few weeks of the year where almost the entire Western world is relaxing.
9) BONUS: Brand Relevant, Whenever it makes sense!
The final discounting opportunity that you should be considering is an event that ties closely to your brand’s mission. It can often make a lot of sense to run discounts on significant global events like Mother’s Day or Halloween, but it can often feel like yelling your offer into the wind, with all the other brands you’ll be competing with. Instead, by carving out an event that’s unique to your brand, you can condition your customers to look forward to a date solely to shop at your brand. Depending on your brand, some examples could include International Women’s Day, World Sleep Day, or National Hugging Day. It’s the perfect opportunity to get creative – customers love a good story behind a sale!