An end of financial year campaign is a great way for businesses to hit their revenue targets, get rid of old stock, or simply attract new customers. For a successful end of financial year campaign, it is Important to have an integrated digital marketing campaign. Your social media, email marketing, SEO and SEM channels should all be working together to assist each other in capturing and converting individuals into customers.
Before we get started on the different ways you can launch an end of financial year campaign, let’s go through the basics of what makes this type of campaign successful.
Getting the basics right
1. Unify your digital marketing channels
It is important that your messaging is unified throughout all of your digital marketing channels. During this period there will be a lot of noise in the advertising market, it is important to keep your messages clear and concise.
2. Utilise all digital marketing channels
Your current and potential customers should be seeing your messaging everywhere. This means actively promoting your end of financial year campaign on social media, throughout your email marketing, SEM and your SEO efforts. Every touchpoint is an opportunity for a conversion.
3. Allocate your budget wisely
There is no point advertising to consumers who you know will not convert. Use your past data and information to create a segmented audience of high intent, and focus your ads on them. Consider segmenting based on best-selling products and highest initial product purchase. Doing this will ensure that you keep a high ROI during this sale period.
4. Personalise your offer to each audience
Digital marketing allows businesses to create multiple ad campaigns specific to different audience segments. Use this to your advantage. Personalise your ads and emails using geography, purchase behaviour, weather etc.
5. Don’t bite off more than you can chew
A campaign that you are only half dedicated to, will only perform half as well as it could. If you do not have the time and resources to create an end of financial year campaign for your business, then it might be worth outsourcing it to an agency. Simply send us an email and we’d be more than happy to help.
End of financial year campaign ideas
Now to the good stuff. There are plenty of ways that you can approach an end of financial year campaign. These are our top 5 creative and effective picks.
1. Everyone wins campaign
This campaign is exactly what it sounds like. Each purchase results in a prize that is won by the customer. This can be something as simply as 50% off their next purchase, a piece of stock that you are overrun with, a gift card or a branded piece of merchandise (keep the cup, pen, water bottle).
2. Purchase gets you an entry to a grand prize
Similar to the first campaign, this end of financial year campaign sees every purchase gain the customer an entry into a grand prize and multiple runner-up prizes. As there is only one main prize to be won, the prize is able to be more grand than if everyone was to win a prize. You could give away a holiday, cash, or a car.
3. Straight up sale
The simplest of all the campaigns, this one is simply providing a percentage off sale. This is the easiest type of campaign to implement and has always proven to be effective. You can take this campaign idea further by sending follow up email to customers who purchased an item during the sale, and offering an extra 5% off their next purchase IF it is made in the next 48 hours. This is also a great idea for abandoned carts.
4. Encourage referrals to unlock a gift
Who better to sell your product than your consumers who love it? Target your existing customer base and incentivise them to refer you to a friend using a unique code. This incentive can be as simple as 10% off your next order, you can further ‘sweeten the deal’ by providing 20% off if your friend purchases an item using the code within a 24 hour period.
5. Spin to win
This gamified end of financial year campaign idea can encourage repeat customers, decrease abandoned carts and increase referrals all in one. Upon completing a purchase on site all customers will be redirected to a web page (or have a pop-up on the page) that prompts them to spin to win. The prizes can include something simple such as a free item with their next purchase, a discount off their next purchase, a better luck next time. Or can be as extravagant as pointing to a treasure hunt on site to get to the prize, encouraging people to buy with a discount code only available in store, asking for an email address for the next step in claiming the prize.
Abandoned carts will also see the spin to win, but instead, their spin will be a choice of discounts if they are to complete their abandoned purchase.