Four Ways Seasonal Products Help Grow Your Business
It’s that time of year again. The temperature begins to drop and seasonal advertisements are out in full force for — you guessed it — some version of a holiday-flavored drink that people adore.
Every year, people look forward to indulging in their favorite seasonal treat. That’s great and all, but how can it help your business? Whether it’s a Starbucks Pumpkin Spice Latte, Eggnog Latte, or even a McDonald’s Shamrock Shake, companies are capitalizing on seasonal trends to grow their business. Here are four ways a seasonal product can help yours:
1. “Limited Time Only” builds excitement, brand awareness and loyalty.
People want what they can’t have. By offering a product at a specific time each year, you can instill a sense of urgency and excitement in consumers that encourages them to purchase once it’s back on the market. Not only does it give them something to look forward to, but the anticipation can build their loyalty and get them talking about your product more (see #4). Take the Shamrock Shake for example — often described as “cult-like,” people flock to McDonald’s during its annual rollout to get their hands on one. Whether people like mint smoothies or not, they know come March, the Shamrock Shake is back.
2. Increased sales.
People inherently want to take advantage of products that are only available for a limited time, and with seasonal products, it’s no different. Simply put, it’s a numbers game. If your customers are buying products more often than they do in other months, sales will increase. What’s more, the customer might purchase additional items (maybe a bagel with their Pumpkin Spice Latte or a burger with their Shamrock Shake), and that’s more cash in your register at the end of the day.
3. A larger customer base.
If a competitor in your industry offers a seasonal product, consider introducing one of your own. Why? Consumers, especially Millennials, are demanding more options and unique flavors from food and drinks. Someone who enjoys a Pumpkin Spice Latte from Starbucks might stop at a Dunkin Donuts if they’re in need of a caffeine boost and see the seasonal latte advertised in its window. Dunkin Donuts has an opportunity to grow its customer base by capitalizing on those who aren’t 100% loyal to Starbucks, but are 100% loyal to the product for a limited time.
4. A successful social media campaign.
It’s no secret that people tend to overshare on social media, whether it’s Facebook, Twitter, Instagram or any other platform. Social media is the primary way consumers are engaging with their peers — and their brands — about their favorite products. Take the @TheRealPSL Twitter handle, which has over 94,000 followers. Not only is it a fun way to get people talking about a product, but it’s a great way to increase your reach on social media. But you need to commit. Don’t solely rely on customers to promote your product — if it’s good, they will. But the personal connections you can make by actively posting and responding to customers will help strengthen their brand loyalty just as much as the taste will.
Can’t get enough of a seasonal product? Tell us about it on Twitter @MowerAgency.
By Emily Bowe, Associate Content Manager, PR