How To Market This Holiday Season Amid Supply Chain Shortages
Supply chain shortages will be affecting everyone this holiday season. Shoppers and businesses are scrambling to create holiday plans as they worry there won’t be enough supply to meet the demand for gifts. How can your company advertise this year and build loyal customers when your products are all sold out?
The importance of advertising
Marketing is communicating with customers. Whether you are introducing your product, sharing your company values, or building brand loyalty, all advertising communicates. This should be no different during a crisis. What will change is what and how you choose to communicate.
Consumers are aware of product shortages. To an extent, they will understand why your products are out of stock. However, companies shouldn’t see this as a reason to stop communicating with them. Loyal customers abandoned by their brands will discover new brands who are still building their following through advertisements this season. Your customers will buy other products this year and possibly won’t return to your brand when your products are back in stock.
At the same time, continuing advertisements as usual can create conflict. Building up the expectation of abundance for your great new product only to be let down when it’s nowhere to be found can be infuriating. This can ruin your brand’s image just as much as not communicating with your customers at all. So how can your company proceed with advertising in a way that builds brand loyalty long-term while avoiding conflict and backlash?
Be strategic + clear
Be strategic and clear with your advertising this year. Know the locations your products are in stock and where they are sold out. Be on your customer’s side by communicating clearly where products will be available. Be careful to target advertising where you know products are in stock at the time of the advertisement. Again, consumers understand the shortages this year. Be proactive in building your relationship with your customers by helping them find where your products are in stock and what is available.
Advertise early
Get ahead and avoid shortages by running advertisements and sales early. Many businesses and stores are already doing this. In fact, stores have already found that consumers are shopping earlier to avoid disappointment later on in the season. There is a great opportunity here for your company to reach people early and avoid the traditional bottlenecking of the holiday shopping rush.
Provide solutions to your customers
If you aren’t advertising and communicating with your customers this season, know that your competitors are. Instead of abandoning your customers to be picked up by your competitors, do what you can to keep them. Maybe your most popular products are out of stock, but do you sell a comparable product? Even better if the comparable product is at a higher price point. Focus advertising on the entirety of your brand, shining a light on products your customers could buy instead of the one they came for.
Provide other solutions for your customers. Give them somewhere to go or something to do when they discover the product they wanted is out of stock. In addition to casting a spotlight on comparable products, have an option where a customer can be notified when the product they want becomes available. Consider offering a small discount for the delay. This could build loyal customers who stay with you in the long run. Regardless of the strategy you choose, provide a solution for your customer.
Part of being a company is being prepared to pivot as the world changes. Marketing shouldn’t stop during a crisis. Find ways to communicate with your customers in a way that continues to build brand loyalty. Notify customers and find ways to update them on the situation. Use this as a time to build your relationship with them, offer new products, and build customer data for future marketing. Choose to ride out the waves so your company can come out on top while others fall back this holiday season.
