You probably haven’t created your Christmas wish list just yet, but if you are in Marketing or Advertising you have been thinking about the Holiday Season for a few months now.
Every year we see new advertising campaigns that must compete with seasoned veterans Target, Wal-Mart, Best Buy, Kohl’s, and Macy’s. It may be challenging, but Christmas time is the best time for marketers to stand out from the crowd and attract new customers to their product or service.
The biggest shopping day of the year falls on the Friday after Thanksgiving. While Black Friday is not an actual Holiday, most retailers tend to treat it like one. Black Friday is the unofficial beginning to the Holiday shopping season, and with a record number of 172 million shoppers in 2008, you can bet retailers across the nation are gearing up for this event.
Retailers everywhere plan far in advance to create a marketing and advertising strategy for Black Friday. With stores opening as early as 5 AM there is a lot of pressure and anticipation on filling the stores with customers who are ready to spend some serious cash.
Advertisers and Marketers are preparing for this day by developing marketing and promotional plans centered on their huge discounts. Many retailers print and mail a catalogue for their seasonal items; JCPenny and Williams Sonoma are great examples. Other retailers send direct mail or email advertisements; air television and radio commercials urging shoppers to visit their stores; and take part in social media marketing.
With so many different mediums to market towards, which are the most effective? According to a
survey from the National Retail Federation, “44.6 percent of consumers said coupons were a factor in determining where to shop this year, up from 35.2 percent last year. Consumers said they were also swayed by advertising inserts (30.1%), newspaper ads (24.5%), direct mail (18.5%) and email advertisements (15.8%).”
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Regarding Holiday Advertising, which of the following media influences you to shop at a particular store?
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.
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2008
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2007
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Coupons
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44.6%
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35.2%
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Word of Mouth
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32.3%
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22.7%
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Advertising Inserts
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30.1%
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30.4%
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TV/Broadcast (e.g. ABC, CBS, NBC, FOX, etc.)
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26.5%
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21.3%
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Newspaper
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24.5%
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15.6%
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In-store promotion
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20.5%
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14.8%
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Direct Mail
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18.5%
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16.1%
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Email Advertising
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15.8%
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9.8%
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Cable (e.g. CNN, Lifetime, USA, TNT, etc.)
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13.0%
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10.3%
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Internet Advertising
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12.3%
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7.5%
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Magazines
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12.1%
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8.5%
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Radio
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9.7%
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9.1%
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Outdoor Billboards
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3.1%
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3.2%
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Product Placement
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4.0%
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2.5%
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Blogging
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1.1%
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0.7%
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Instant Messaging (computer)
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0.6%
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0.7%
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Text Messaging (cell phone)
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0.6%
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0.6%
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Video (on cell phone)
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0.3%
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0.3%
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According to the preceding figures, a coupon is the most influential factor that will affect a consumer’s purchasing decisions. While the effectiveness of the coupon might not come as a surprise to most people, it is important to note HOW the coupon is delivered to the consumer.
Take into consideration the remaining data collected by the National Retail Federation. 30.1% of consumers are influenced by advertising inserts, followed by 24.5% newspaper, and 18.5% direct mail. In a dot com world that seems to have evolved overnight, it is surprising to learn that newspaper and direct mail coupons are still among the most effective influential factors among consumers.
While many economists expect web and viral marketing to continue its climb, print advertising is maintaining the lead in consumer influence. This Holiday Season you can anticipate retailers utilizing an array of different marketing mediums, and whether it’s through print, television, or the web, a lot of advertising dollars will be spent in an effort to fill the stores and malls with consumers on Black Friday.