January 7, 2015

What Your Company Can Learn From the Economics of Valentine’s Day

With Valentine’s Day just around the corner, you may have heard some less than enthusiastic phrases being tossed around that sound a little along the lines of:

“Valentine’s Day is such a business.”

“Why can’t we just say “I love you” everyday rather than on a specific holiday?”

“Oh great…Valentine’s Day is coming again.”

Whether you’re a lover or a hater of this national holiday full of roses and candies, one thing is for sure: Many incredibly pleased companies reap the wonderfully lucrative benefits of this holiday that falls on February 14th. Let’s get down to the facts. According to the National Retail Federation’s 2012 Valentine’s Day Consumer Intentions and Actions Survey (as reported in New Europe Online), “The average person celebrating Valentine’s Day is expected to spend $126.03 [this year].” That’s right! Consumers happily shell out this amount of dough for their lovers, friends, parents, children and teachers, and you know what? This trend is slated to not only continue but this average amount of spend is projected to progressively increase in the years to come too.

Naturally, floral shops, candy makers, online retailers, department stores, jewelers and even novelty companies wisely capitalize on this widespread consumer market that are consistently on the hunt for sweet treats and luxurious items for their most cherished loved ones. As they should! After all, an intelligently run business with the right marketing team will always maximize their target customers’ needs and demands as well as the market trends.

There really are some valuable lessons that we can take away from how a company that correctly takes advantage of a holiday like Valentine’s Day. Let’s use a hypothetical restaurant to illustrate this point. Let’s call this restaurant, “The Love Room”. They’ve been in business for twelve years and they have completely mastered the art of marketing. Every week, they brainstorm how they can get more diners to walk through their tall wooden doors that are located in the heart of Los Angeles. They are strategic with targeting their adult demographic and they’ve grown accustomed to changing up their marketing message based on the season, trends and of course their “Catch of the Week.”

So, right around mid-January, The Love Room sends out some mailers to local residents. They distribute a few thousand direct mail pieces to residents’ mail boxes and they even email their targeted list of residents. Connecting with their fellow food lovers from both marketing angles within a thirty mile radius from their location has proven to be successful in the past, so Valentine’s Day will be no exception. Like always, the message in their marketing piece is absolutely crucial and written with tact and precision. For this particular holiday, they were sure to include photos of their restaurant decorated in beautiful candlelight. The marketing piece showed their tranquil garden seating option and they even snapped a few pictures of their romantic signature dishes that are best shared.

Now, here’s the kicker:

Not only is The Love Room illustrating their restaurant in the best, most loving light, and not only are they appealing to their target customers’ senses and emotions in order to convince them that their restaurant is the one that they should choose to spend the weekend of February 14th at, but they are even sure to add an extra incentive. This particular offer included a $10 off their Valentine’s Day meal plus four chocolate dip strawberries on the house! Talk about appealing to the mind, body and wallet of their target audience!
So, what can a company like you take away from a hypothetical company like The Love Room, as well as from other companies like List Giant, that know what it takes to maximize the market trends and demands?

Put simply, you must:

A) Know your target audience

B) Take advantage of the climate of your marketplace with an effective offer and message

C) Implement said effective offer and message at the most opportune time.

That’s when a reputable, experienced and knowledgeable company like List Giant comes into play. We have devoted hundreds upon thousands of hours to researching all of the industries our clients work in. Not only do we thoroughly understand your market, but we will also dedicate as much time as needed to learn your marketing vision, your financial goals and the specific ROI you are striving to achieve. We will get to know your company on a very intimate level so that your marketing efforts can and will always be maximized and implemented at the ideal time. That is what we are good at. That is what makes our company and the companies owned by our clients successful.

Let’s get to know each other. Let us bring your sales volume to the next level now and let’s get started today. Our toll free number is 800-383-1381, so feel free to speak with one of our friendly marketing reps. You can also get to know our services in greater detail by visiting us on the web at www.listgiant.com. And remember, make sure to spread a little extra love to your sweethearts this Valentine’s Day. Even the smallest gesture can absolutely make their day!

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