Marketing trends can help steer your company’s strategic direction and enhance the customer experience. Learn more about New Mover Marketing and other latest marketing trends as you start planning for 2023.
Economic Trends Impact Marketing Strategy
Cooler temperatures and shorter days mean the holiday season has been kicked into high gear. Amazon’s launch of a second Prime Day in October helped jumpstart holiday shopping even earlier this year. But, faltering economic growth and record inflation are prompting fear of a looming recession and giving customers pause. Increasing negativity about the economy and personal financial concerns are putting a damper on holiday spending. At least 29% of Americans are thinking of spending less during the holiday this year, according to a report from NPD Group. To offset rising costs, many consumers are forgoing dining out or limiting the amount they spend at restaurants.
If you anticipate a slowdown in sales, cutting back on marketing should be a last resort. Effective marketing will help you weather economic downturns. Focusing on your existing customer base is vital when customers are pinching pennies. And taking simple, cost-effective steps to add new customers is possible during tight times.
Consider New Approach
To capture sales and build a loyal customer base during this tumultuous season, small businesses need to hone their marketing strategy and focus on current trends to ensure their brand stays relevant. Our Town America, the nation’s leading New Mover Marketing company, has gathered the latest marketing tips and trends to implement as the new year dawns.
- Celebrate existing customers. While many businesses focus on expanding their customer base, it’s essential to celebrate and nurture your regular customers. Customers want to know they are valued by the businesses they patronize. Collect email addresses and send customers Thank You messages after they visit your establishment. This could be done via Postcard Marketing or through the Loyalty Program built into the New Mover Marketing program. Encourage loyal customers to leave reviews for your business and give them access to special deals. A customer referral program is an easy incentive that will help you add customers and show your appreciation for existing patrons.
- Enhanced customer service. Hiring challenges are making it increasingly difficult for businesses to provide solid customer service. At least 80% of consumers believe the experience a company provides is as important as its products and services, and 91% of consumers said service drives repeat visits, according to SalesForce. Offering enhanced customer service can help drive traffic. Addressing customer service on social media and implementing chatbots can help enhance your service efforts. Focusing on employee training and building a positive work environment will go a long way to creating an inviting atmosphere at your business.
- YouTube Ads. Running YouTube ads is a cost-effective, targeted approach to building your customer base. YouTube has more than 210 million viewers in the United States and is the second-most visited site after Google. Short-form video continues to be a great way to capture attention, and the popularity of live videos is increasing. Live streams allow customers to connect with your brand in real-time and show your authenticity.
- New Mover Marketing. Small businesses can rely on New Mover Marketing to tout their business before new movers form loyalties with their competitors. More than 27.1 million people moved in 2021, and nearly 18% moved to a new state, according to the U.S. Census Bureau. Relocating to be near family or to enjoy a lower cost of living is common, particularly as remote work becomes more accessible. Adjusting to a new community and turning a new house into a home can be challenging. Receiving one-time use housewarming gift certificates from local businesses help make the transition easier. Our Town America has more than 50 years of experience welcoming new movers with a welcome package filled with proven offers to local businesses. We help local businesses reach new movers before they develop their new routines.
- Increased social responsibility. Social responsibility is important to young consumers. Generation Z is a champion of sustainable consumer practices. As Gen Z’s buying power increases, small businesses can benefit by showcasing their social responsibility efforts. Whether you support charitable organizations in your community or provide environmentally-friendly packaging, consumers want to hear about it. Use your social media to let customers know how your business is helping the community and making the world a better place.
- Rise in subscription services. To provide customer convenience, some businesses are touting subscription services. The rise in online payment providers like PayPal helped companies such as Blue Apron, Stitch Fix and Dollar Shave Club become household names. Subscription services guarantee recurring sales, and customers appreciate not having to remember to make essential purchases. Home maintenance providers, pet care companies, and virtual learning companies are just a few of the companies launching new subscription services. If you are considering offering a subscription service, make sure to ramp up your digital marketing efforts to help retain customers.
Greet New Movers
Learn more about tapping the new mover market and how Our Town America’s direct mail and supplemental digital ad services can help your business build its loyal customer base in 2023.