Last week, Multichannel Merchant ran an article I wrote regarding seven strategies retailers could use in the days leading up to Valentine’s Day. I know, I know…Valentine’s Day is today. However, the great thing about the strategies listed in the article and below is that they can be applied to a business strategy at any time during the year. So read on. And send us your feedback on how you might use these tactics in the year to come, or offer additional points that you don’t see here.
7 Ways Retailers are Saying “I Love You” This Valentine’s Day
Multichannel Merchant, February 7, 2013
By Larry Freed
Roses are red; violets are blue. To show customers the love, what can you do?
As Valentine’s Day nears, retailers have an opportunity to play Cupid. Smart and thoughtful strategies can serve as their proverbial arrows – showing consumers the love while helping to win their affections as well.
For many retailers, winning consumers’ hearts and business at this time of year can correlate to meaningful financial success. A recent survey from the National Retail Federation (NRF) shows that the average consumer will spend $130.97 this Valentine’s Day. In addition, roughly one quarter of shoppers will make purchases for their Valentine online.
Retailers, take heed, and ask the right questions. Leading up to Valentine’s Day, what are ways you can nestle yourself into customers’ hearts? How can you win their loyalty and be the kind of company that makes them want to draw hearts in their notebooks?
Let’s take a look at some strategies:
Appeal to the multichannel, multi-device consumer
More than ever, consumers are information-driven – interacting with a brand across multiple channels and platforms… sometimes simultaneously! It’s important to promote Valentine’s offerings across various touch-points, while keeping branding, pricing and strategies consistent.
Tiffany & Co., for example, is reaching customers on multiple fronts – showcasing Valentine’s ideas across print, online and social platforms. Its website also includes a “Drop a Hint” feature – letting visitors send a Cupid-themed postcard to their “true love” that links to wish-list items and eliminates some guesswork.
As smartphone and tablet use skyrocket, mobile is a key way for consumers to access information. Used as a standalone and companion channel, mobile attracts a lot of eyeballs at this time of year. With love (hopefully) in the air, eHarmony recently reported that it draws its highest online and mobile usage between Christmas and Valentine’s Day.
Retailers can help shoppers take advantage of mobile’s convenience and power. As appropriate, optimize your mobile site, app and mCommerce experience, so that customers can easily search and view your Valentine’s Day catalog.
Listen to your customers
These tactics are, in many cases, a nice way to show the love. But how and why are these retailers zeroing in on them? Many of the companies – from Victoria’s Secret to Godiva to Helzberg Diamonds to FTD.com and more – are consistently measuring what their customers want, so they can implement strategies to improve satisfaction and financial performance. And customizing Valentine’s efforts to your shoppers’ desires is a good way to make them swoon.