In a nation like India, where purchasing decisions are mainly influenced by emotions, the holiday season offers the added benefit of reminding your clients about Indian culture through the association of your products.Festivities offer an excellent chance to reconnect with present and prospective consumers or customers. During the festivals, you may devise efficient marketing methods to assist you connect with your consumers or clients more effectively. During festivals, online sales also increase. FinTech’s, in general make the procedure easier and faster; the holiday season is just a season of increased volume. The holiday season is an excellent time to exhibit your inventory, launch new items and services, and reach a broader audience. Banks and finance businesses come in to provide a number of flexible solutions, such as working capital, bill discounting, supply chain finance, machinery finance, microfinance, commercial car loans, commercial equipment loans, and so on. As of September 9, 2022, public sector banks accounted for 50% of additional loan given, while private sector banks accounted for 47.1 percent. In the same period last year, public sector banks accounted for 19.5% of incremental loans, while private sector banks accounted for over 70%.
The holiday season has always been important to Indian consumers and brands. Almost three out of every five Indians anticipate Festive season sales, with nine out of ten anticipating making a purchase during this time. As it approaches, banks and e-commerce platforms are promoting special deals to entice customers. In reality, both companies have announced agreements in the form of discounts on certain goods and credit card offers.Credit offtake across all industries increases in the run-up to the holiday season. Keep in mind that the celebrations are not yet done, and with Diwali approaching, marketers anticipate more sales and profits as more people arrive, making the festive season the ideal brand marketing tactics.While there are various festive season marketing methods to consider, brands should advocate a comprehensive strategy.
Let’s look at some of the brand’s strategies for marketing during India’s festive times:
● Utilise social media to Expand Your Presence
Consumer purchasing habits are evolving and becoming considerably more rational with the arrival of a ‘new India’ that is openly shaped by social consciousness and conscientious consumerism. It is no secret that people are tied to their phones for most of the day, doing anything from chatting to online shopping. By publishing compelling messages/visuals on their accounts, brands may boost their visibility on social networking networks. Announcing new product releases or attractive festival deals may quickly drive visitors to their website. This can play a significant role in attracting customer interest and driving sales.
● Set the brand apart by employing different approaches.
Brands are aggressively embracing innovative marketing tactics. The level of brand rivalry is skyrocketing. To differentiate the brand, consider adopting new methods such as influencer marketing, establishing a campaign, offering discounts, or gamifying the shopping experience while keeping one’s target demographic in mind. Because of growing social media engagement, the influencer marketing company has quickly entered the mainstream, resulting in a 40-50 percent rise in ad expenditure for influencer marketing during the holiday season. Certain fashion sites, for example, are producing advertisements with strong language that young people can relate to.
● Concentrate on brand messaging!
Whether it is a daily marketing effort or a seasonal campaign, concentrating on the brand message is critical. To make an impression on your target audience throughout the holiday season, you must convey a compelling message. Before creating a powerful marketing campaign, determine the concept of the message, the feelings you want to create, and a call to action. Create a relationship with your audience by tailoring your messaging to them.
● Automation Marketing
Marketing automation is used in the marketing strategy of several big multi-brand retail establishments and businesses. This provides meticulous consumer segmentation, tailored advertising, and a qualified sales funnel. This method ensures that your festival marketing strategy reaches the target demographic. Personalising your message is an approach to improving performance.
● User Generated Content
Did you know that 56% of customers say they want to see UGC photographs and videos from brands? Millennials (ages 25 and above) create around 70% of all UGC, making them the most important content drivers today. User Generated Content strengthens your company’s and brand’s reputation. As a consequence, adding a user-generated content (UGC) campaign into a festival marketing plan might boost festive sales. Request that followers and consumers tag your brand or business when they post a photo of themselves wearing or using your products.
The Indian festival season is one of the finest times to make investments that are supported by the emotional bonds that companies have with their target audiences. Brand marketers can open up enormous sales opportunities and even position themselves for maximum success during the auspicious festive period by segmenting the customers for a personalised experience, making the advertising simple, accessible, and shareable while providing unbeatable offers across all media. It is one of the best times for companies to not only generate money but also leave a lasting impact on your customers’ minds.
(Rohit Sadavarte, COO & Associate Partner, Hotstuff)