India is a land of diversity and a lot of festivals! Every region has its fair share of festivals and then there are festivals that are celebrated nationally. Onam in Kerala, Ganesh Chaturthi in Maharashtra, Karnataka, Andhra Pradesh and Telangana etc., then you have Dussehra, Diwali and Navratri nationally, – we are a nation that celebrates and how! Brands know this and gear up with plenty of offers, new product launches, creating opportunities to make the most of sales. Advertising and consumer promotion expenditure is expected to surge a record 20-25% y-o-y in the second half of 2023.
Brands face stiff competition while advertising during the festive period
While the Indian consumer’s wallet also opens up during this time and she is on the hunt for deals, cool new things to buy for friends and family, brands have an uphill task.
Plus, this year, it is a double dhamaaka as Cricket coincides with the festive season. So, every brand and their uncle, in E-commerce, FMCG, hospitality, fintech, health, auto and other consumer discretionary verticals, will compete for a pie out of the consumer’s wallet.
So, what should brands do in this situation? While spends dictate many things, other things to consider in your arsenal are these factors while maximising impact and reach:
1. Pay attention to Consumer Behaviour:
Understanding the changing consumer behaviour during the festive season is crucial. Brands should analyze trends, preferences, and purchase patterns to tailor their marketing strategies accordingly. By identifying what motivates consumers to make purchases, brands can align their messaging and promotions to effectively capture their attention. Eg., If you look at the screenshot below, the change in digital transaction volumes is visible in terms of consumer preferences. It becomes a no-brainer that your business needs to be addressing a seamless transaction experience on your D2C site, while also even removing COD for transactions.
2. Be culturally relevant:
Festivals in India are deeply rooted in culture and traditions. Brands should gear their marketing campaigns towards connecting with consumers on a cultural level. By incorporating elements that resonate with the festive spirit, brands can create a sense of familiarity and emotional connection with their target audience. This means creatives being emotional, funny etc. Look at your creatives with a clutter-breaking approach and create an opportunity to connect on all your channels with videos, banners that convey an idea singularly. While as a brand you might be outspoken, but an idea that cannot connect Diwali to your brand truth might not help you this festive season. E.g., most brands will be looking at the environmental and sustainability factors for Diwali, will your brand benefit from a different route?
3. Audit and reorganise your digital presence:
With the rise of digital platforms, brands must have a strong online presence during the festive season. Investing in digital marketing channels such as social media advertising, influencer collaborations, and search engine optimization can significantly enhance brand visibility and engagement. Brands should also ensure that their website and online platforms are optimized for mobile devices, as mobile usage tends to increase during this time. But the SOV game also needs a war chest what with Ecommerce platforms, BFSI etc., also participating, inventory becomes scarce. So, can you play the game a bit differently? Why not move away from the walled gardens and look at the Open internet and create an opportunity with deals that you can afford?
4. Create personalization:
Tailoring marketing campaigns to individual preferences can greatly enhance brand perception and loyalty. Brands should leverage data-driven insights to create personalized experiences for their customers. By understanding their target audience’s demographics, interests, and purchase history, brands can deliver targeted messaging and offers that resonate with consumers on a personal level. And if you are already at this digital maturity, have you explored programmatic leveraging your first party data? Can your agency get you cool inventory deals that you can participate in?
5. Take an omni-channel approach:
The festive season sees an influx of shoppers both online and offline. Brands should adopt an omni-channel approach to reach consumers through various touchpoints. This can include a combination of traditional advertising, social media marketing, influencer partnerships, experiential events, and collaborations with local retailers. By being present across multiple channels, brands can maximize their reach and engage with consumers wherever they are. Again, do you have the ability to marry online and offline campaign push and measure the metrics really well?
The festive season this year is going to be big, especially with consumer sentiments being positive, leading to good sales for most brands. By understanding these key factors and aligning your strategies accordingly, you can make a difference to your brand by making the most out of their marketing budget and create a lasting impact on their target audience.
