Yes, we know there are only four quarters – it is basic math.
Q5 is a marketing term that draws attention to an often ignored shopping period after the holiday season, typically from late December into January.
During Q5, consumers are often looking for sales and swapping unwanted sweaters and socks for something they need. So, with returns and discounts on the mind, retailers generally pull back on advertising and focus on getting through it. It’s especially problematic for big box stores. For local, small businesses there isn’t the same returns and discounts burden.
In addition to bargain hunters, there are those out to spend their gift cards and holiday cash.
Small business can win with a strong Q5 strategy
Halifax small businesses can take advantage of Q5 by capitalizing on consumer behavior and offering value combined with promotions and sales. Don’t hide, while the big competition is buried in returns, capture a new audience and pull in a few extra bucks by extending your holiday season.
Help your customers spend their holiday cash in the local economy.
The little-known benefit for the smartest small businesses is that competition for ad space decreases during this time, so we can find bargains of our own. Meta (Facebook and Instagram) projects a drop in advertising costs of at least 15% in the Q5 period. This means businesses can reach more customers and attract more business in this holiday shoulder season while seeing their advertising dollars go much further.
A few Q5 tips
Some best practices for marketers to make the most of Q5 include:
- Promotions and Special Offers:
Introduce post-holiday promotions, discounts, or exclusive offers to attract customers looking for value after the holidays. Consider bundling products or services to create attractive packages. - Gift Card Redemption Incentives:
Encourage the redemption of gift cards by offering special promotions or discounts exclusively for gift card holders. Highlight the value customers can unlock by using their gift cards at your business. Aim to price gift card incentives above the average gift card value to increase the benefit of your gift card program. - Email Marketing Campaigns:
Launch targeted email campaigns to remind customers about unused gift cards and promote post-holiday deals. Incorporate compelling visuals and persuasive copy to grab attention. - Social Media Engagement:
Leverage social media platforms to announce and promote post-holiday specials. Encourage user-generated content by asking customers to share their post-holiday purchases or experiences. - Limited-Time Offers:
Create a sense of urgency by incorporating limited-time offers and flash sales. Use countdowns or timers to emphasize the urgency of the promotions.
Need a hand taking advantage of lower advertising costs as we move into the new year? Give us a call.