Hello everyone! The 4th quarter or the BER months is usually the time all businesses are at their busiest-- launching new products, promos, maximizing the Christmas rush!
I know how exhausting the Christmas season can be for entrepreneurs, so this year, I'm coming up with a special e-mail (and video, if you prefer this on Facebook or LinkedIn. Coming soon!) series, called 12 Tips for Christmas, Marketing Edition.
TIP #1: MAXIMIZE PAYDAYS.
It's a given that the Christmas season is full of promos-- 50% off, Buy 1 Take 1, etc. But no matter how attractive these may be, timing is still key. The best days to launch such promos or even to launch a new product, is during paydays. In our case in the Philippines, it's every 15th and 30th of the month.
Do you notice, when does SM announce a sale? Yes, it's every payday. They even call it Payday Sale. It's ironic to hold a sale when everyone has money to spend, but it just works that way. Rationally, a sale can happen when it's petsa de peligro, or the days in between paydays, since people have less money so you can price your products cheaper.
However, consumer psychology suggests that people are of course, much more willing to buy more when they have money to spend. A.K.A impulse buying. They buy more even when they don't need it, just because they think they're saving money. (ssshhhh!) So in sales, volume is the key.
I'm a marketer, but I still fall into these traps. HAHA! Because I'm a woman first before I am a marketer.
Tip #2 in the next email.
PS: If you think you need one-on-one marketing mentoring session to prepare you for the Christmas rush, let me know! I'll be accepting a few. Email me at firstname.lastname@example.org (or just reply to this email).