How to Build a Holiday Season Market Strategy in a Time-Crunch

The countdown to the holidays has started, and businesses and consumers are making preparations to make the most of this time of the year. Black Friday and Cyber Monday are when holiday shopping peaks, but people’s shopping frenzy continues well into December. While a customer who waits until the last minute to buy gifts may still find something attractive on the shelves, brands don’t enjoy such a luxury. A strong marketing strategy takes time to develop, and implementing it at the last minute can be a grueling experience with a high risk of failure. The best way to optimize results is to hire a proven online survey company that can do the last-minute market research on your behalf so that you can build a solid holiday season market strategy. In this blog, we will discuss the various ways to come up with an effective holiday season market strategy in a time-crunch situation.

Conduct rapid research

If you think market research cannot be done in a short time frame, think again. The key here is to conduct rapid research. Rapid research aims to shorten study timelines to generate data more quickly as compared to conventional market research methods. It is an extensive field that includes numerous methodologies, some of which are closely linked. While concentrated or short-term ethnographies have given rise to new types of quick research -- rapid appraisals, ethnographic evaluations, and assessment methods are the oldest and most well-known approaches. If you want to get the best results, consider hiring an online survey company that knows how to deal with time-crunch scenarios.

Start a holiday giveaway campaign

Customers love participating in giveaway contests because they enjoy receiving gifts. Giveaways are great for brands as they not only boost revenue and generate leads, but also help expand their online presence by exciting local communities. And what makes the holiday season more enjoyable than receiving gifts? Of course, more gifts! The best thing about giveaways is that you can scale up freebies to the size of a campaign and target as many individuals as possible. To help you get started, here are the types of giveaway campaigns you can run:

• Give away for every purchase made on the website
• Give away for every new follower during a specific time-frame
• Offer gifts to people who recommend friends and family
• Offer free shipping on products that reach a certain payment threshold

Generate video content and try live commerce

Hubspot reports that 96% of online customers say their video consumption has increased over the last couple of years. Today, a wide variety of video formats are consumed online. This is indeed a blessing for brands, given that they utilize all these video forms, such as short videos and video advertising, for their marketing endeavors. Another trend that has transformed people’s shopping experiences is “live video commerce”. Live commerce, according to McKinsey Digital, can boost conversions by up to 30%, which is roughly 10 times more than traditional e-commerce. It doesn’t take long for a good video to go viral, which can add some lucrative friction to your last-minute market strategy.

Collaborate with nano- and micro-influencers

The global social media influencer market has increased dramatically, from US$900 million in 2016 to almost US$3.7 billion in 2021. More interestingly, it is expected to reach a whopping US$ 24.1 billion by 2025. This comes with the concern that influencers with a massive following often charge a ton of money for “shout-outs”, which is an obstacle, especially if you are a small business. Well, there’s nothing to worry about. As per data shared by eMarketer:

• 90% of US marketers are eager to work with influencers that have a follower list between 5,000 and 100,000
• More than 70% of influencers in the 1,000 to 10,000 followers range charge a maximum of $100 per “shout-out”

This is good news for small and medium-sized businesses, as they can’t afford to spend a lot of money on influencers to promote holiday marketing slogans. There are approximately 3-40 million influencers around the globe, so it shouldn't be difficult for your brand to find the right collaborators. All you need to do is research.

Final Word

Market research methods such as data processing and tabulation, and survey programming can be extremely beneficial for detecting customer sentiments and reaching out to your target market demography. When looking to collect high-quality data using proven methodologies and tools, it helps to partner with proven global online survey companies. Your search for a reputable research support company ends at Unimrkt Research. We are a leading global online survey company that has immense experience operating in different industries, across different countries, and in a variety of languages. To learn about our market research consulting services, call +91-124-424-5210, or email sales@unimrkt.com. You can also fill out our contact form, and our representatives will reach out to you at the earliest.