With the boom of startups in India, business news makes a lot of rounds in public and creates a vibrating buzz. Whether we talk about investment rounds happening in different areas or the new and innovative ideas popping out from the minds of students and working employees, the ‘humm is real and provides real good stuff to make news out of it.
Now, as the season of Valentine’s is approaching fast, many discrete businesses are waiting to bring in the monetary numbers. And when businesses prepare for such a big event, in today’s time, they make sure to be visible out there in whatever way possible.
The thing to understand is why valentine’s season acts like a big breaking news for different types of business.
Revenue Generation Is The Prime Factor
Every business strives for money! The market people understand consumer behaviour and target audience very well. The try to get as much revenue as possible in Valentine’s week is a big factor, and businesses put all the strategies to the test to achieve their target revenues. But among all the industries, gifting is the one that enjoys the majority of purchases as valentines day gifts sell more than anything.
A Big Opportunity To Establish Brand Image
In today’s highly competitive market, having a good and strong brand image means winning the half-fight. Even in the news media, holding an established brand image is crucial. As Valentine’s is celebrated around the world, it creates an open space for businesses to be present out there and creates a firm brand image. There are many business areas that have nothing to sell in relation to Valentine’s anyhow, but they still get involved just to market their image. You might see advertisements wishing Happy Valentine’s Day in print media from a brand or a business group that has nothing to sell in correlation to the occasion.
Acquiring New Customers Is a Strong Point
The market today is not only about revenue generation; it has now become a game of acquiring customers. The term ‘CAC’ (customer acquisition cost) was not talked about a lot 10 years ago, but it has now become a prime aspect of every business. While it simply means the cost incurred to get a product sold, the bigger aspect is that if the customer likes your product, there will be more purchases in the future, and the ‘CAC’ to them will be zero. So, many brands and businesses roll out special versions of their core items just for Valentine’s season so that they can acquire new customers. When a business gets a new customer, they try to collect data like email and phone numbers which are used to push offers. Like if someone buys valentine flowers from a gifting brand or an online florist, he/she will receive a special discount offer next year, and this counts as customer retention.
Stock Clearance
All big occasions are somehow the best opportunities for many businesses to clear out their stock and eliminate the threat of waste. Clothing brands pick Valentine’s to offer items like a couple of t-shirts at heavily discounted rates. Every business that can make the product relatable to the season of love and wants to clear out its stock chooses to go for amazing offers like free items and combo items at the sale. It gives businesses unprecedented revenue.
Gaining Social Media Followers
There was a time when it was crucial to take the business to the world wide web, which is still important, but the meaning of online presence has changed a lot now. Today, having a strong followers base on social media platforms is a key thing for every business. A high number of followers means a higher chance of being noticed every day, which is a new dimension of marketing. An occasion as special and global as Valentine’s provides the chance to create trendy content agile, mixing it with core business nature. From rose day to valentine’s day, there is a streak of 8 days to create shareable, likeable, and relatable content that people will like and press the follow button.
There will be more news around Valentine from the business world as many brands have already launched their campaigns.
