Happy Holidays from LBAB!

TLDR;

- Enjoy the day

- Why you need an NYE Promo

LBAB Community: We Made It!

We survived. 2023 is in the books. It’s been another monumental, unprecedented year, and it honestly feels like we could all have used less of it

I’m sure many of you have been in the arena fighting rising costs, harder-to-sell-to customers and Profit Death Eaters from every angle.

However you celebrate, take a moment to appreciate how rare it is to be in your position. Most people in the world, let alone our industry, can’t say that they’ve accomplished what you’ve accomplished.

So, FINALLY take the time and enjoy the day with your family. Today is going to be short and sweet.

I’m sure the last thing you want to hear about is another sale, but we’ve got to talk about NYE sales to kick start next year.

The NYE promo can be easily overlooked, but it can be a real winner if you still have inventory and if it’s done right.

If video is more your speed, here’s a podcast from 2 years ago the old Messenger Mastermind team recorded that covers the same concept.

Let’s Run this Sale!

Here are the 3 reasons why you should run an NYE promo:

1. Customers are flush with Gift cash.

As of tomorrow, consumers will be flush with cash from returns, gifts, and gift cards, so they’ll have plenty of money to get what they actually wanted for gifts this year.

It’s the perfect time to get them to buy your products. Some customers blew their budgets on gifts for others. Now is the time they get gifts for themselves.

Takeaway: Just because the holiday season is over doesn’t mean the holiday buying season is.

2. CPMs are Lower.

Most brands torch their ad budget at the end of the year and pull out of ad channels at the beginning of the new year.

This presents an incredible opportunity for those that don’t. You can buy the same ad inventory for significantly less.

Rightsizing your CAC.

There won’t be the same consumer demand as leading into the holidays. But customers are still buying and now they have their Holiday-micro stimi to buy your products.

Takeaway: Lower CPMs = prime time to drive sales.

3. New Year, New Me isn’t just for Fitness.

New Year’s resolutions make January the BFCM for Fitness/Health/Wellness brands.

The act of committing to new goals has a similar effect on Consumer behavior to having to buy gifts for everyone in your life. 

But New Year’s resolutions aren’t only fitness/health goals.

Consumers are making New Year’s resolutions across the spectrum, and wedging your product in the middle of those life decisions is a golden opportunity to drive sales.

With the holiday season creeping into early October, why not extend the sale rush into January?

Extending your Holiday offer as a New Year extension or aligning it to motivate customers to improve their lives in the New Year can be a great way to extend those profitable sales for another 2-3 weeks.

Takeaway: Align your brand with consumers’ habits = $$$$.

Final Thought:

A few last reasons I recommend the New Year’s sale: 

1. Chinese New Year is right around the corner. 

2. Tax Season isn’t that far behind that.  

3. 1 last great sales push can free up the cash flow to get you through Q1 and be in a healthy position to tackle next year.

But I’ve typically seen brands be able to boost sales for 2-3 weeks in Jan with a healthy push.

Don’t run a sale just to run a sale.

Now, go enjoy the rest of the day with your family. We’ll have one last 2023 newsletter next week to cap another insane year.

Takeaways:

The year is over!!! Time to dive headfirst into next year. The reason to run an NYE Promo:

1. Customers have Gifts they need to spend/return.

2. CPMs drop right after Holiday.

3. New Year’s Resolutions are great buying moments.