4 Reasons to start your 2023 Social Media Holiday Campaign NOW

Many of us grew up in an age where holiday decorations didn’t go up until after Thanksgiving, or even well into December so as to coincide with the church calendar.  Meaning, holiday shopping was traditionally performed in December in many households, and in a mall where the mall decorations were just as beautiful as the adorned store windows.

However, trends over the past several decades have focused strategic marketing of the magic of the holidays beginning in early Fall.  Amid complaints from Silent, Baby Boomer, and portions of the Millennial generations, that ever-increasing early marketing strategy is for good reason – and this year is no exception.  Furthermore, data suggests it may actually be even more important.  These are the top 4 reasons why I suggest you start planning and execute your strategic 2023 social media marketing holiday campaign as soon as possible!

1.    MORE CONSUMERS ARE SHOPPING EARLIER.

The Morning Consult survey conducted in late August, reports that 26% of adults have already started their holiday shopping, and in a surprising new twist, Gen Z is leading the pack.  Of surveyed consumers who start their holiday shopping at least 17 weeks before Christmas: 34% are Gen Z and 33% are Millennials (which account for almost 70% of total early holiday shoppers).

And this survey isn’t the only one to suggest earlier than ever holiday shopping this year.  According to Insider Intelligence, “Half of consumers (50%) expect to start their holiday shopping before the calendar turns to November.”  Celigo’s survey has similar findings, reporting that around half of US consumers plan to start shopping in September.

2.    OVER HALF OF CONSUMERS WILL SHOP SMALL.

Last year’s supply chain availability and shipping delays have left many consumers turning to independent retailers, which is great news for small businesses – but there is a catch!  Although Gen Z and Millennials are returning to local retail, restaurants, and services, the expectation of a seamless shopping experience remains a high priority.  Similarly, how consumers plan to do their shopping is worth serious consideration when planning your 2023 holiday strategy.  The Morning Consult survey reports that holiday shopping features such as in-store pick-up, mobile app ordering, curb-side pick-up, and same day delivery has had a significant rise in popularity for this 2023 holiday season.  Online ordering holds steady around 70% and in-store shopping remains relatively unchanged at 77%. 

  3.     THE ECONOMY MATTERS, WHICH MEANS MORE COMPETITION

The truth of the matter is that although some suggest the economy is on the rebound, surveys amongst consumers point towards conservative holiday spending.  With student loan repayments starting in October, climbing interest rates, inflation, and the recently announced UAW strike, consumers are decidedly more budget conscious for the 2023 holiday season.  According to USA Today, although the inflation rate has plunged, tumbling by more than half from its peak of 9.1% in June 2022, it’s still above the 2% target preferred by the Federal Reserve. 

According to an article by Retail Wire,  Celigo reported that, “An overwhelming majority of consumers are setting budget limitations on their holiday shopping.” Almost 80% of those surveyed said they plan to spend less than $5,000 this year, while 49% said they’re hoping to spend under $1,000.

With rising costs of goods and services everywhere, the reality is those budgets won’t buy as many things.  Consumers are likely to carefully choose where their money is spent, since their budget won’t go so as far in years previous.

4.    SOCIAL MEDIA IS A POWERFUL MARKETING TOOL FOR PURCHASES

Data collected in a survey conducted by Forbes reports that over 75% of social media users have purchased something they saw on social media.  This confirms the importance for social media strategies and campaigns, especially for small business owners.  Although the purchase pathway seems to vary based upon findings, the numbers are still encouraging: 11% of social media users bought immediately, 44% delayed online purchases for later, and 21% opted to buy in store.  This is direct support that a business’s visibility, presence, and branding on social media does directly reflect in retail

To further support this reflection, Salesforce research states, “In the past three months, more than half of consumers reported going to a physical store to see or buy products they discovered on their social feeds."  The data from their research also shows that a consumer is twice as likely to purchase a product or service if it was advertised in their social feed, as compared to influencer promotions.  Additionally, half of all shoppers are more likely driven to visit a retailer’s website from social media marketing versus only 39% who receive an email promotion. Which tells me, that social media users   want to buy but don’t necessarily want a sales pitch by an influencer, nor one delivered to their inbox.  This marketing strategy will need to follow the user trend to stay relevant in the coming future.

Additionally, Salesforce is predicting for the 2023 holiday season that "Social media advertising will drive 10 times more online holiday shopping visits than traditional marketing."

WHAT DOES THIS MEAN FOR SMALL BUSINESSES AND SOCIAL MEDIA MARKETING?

Because the majority of 2023 early holiday shoppers are Gen Z and Millennials, it’s important to meet them where they are.  And to do that, you need to meet them where consumers are overwhelmingly going for information.  That place is now social media.  According to a May 2023 article by Forbes, “Facebook commands 53% of all social media site visits in the United States….. This means Facebook remains essential for marketers aiming to capture and engage American audiences.” 

Further investigative surveys by Statistica confirms this finding with August 2023 data showing that Facebook and Instagram remain leaders in the social media industry, especially for Millennials.

THE GOOD NEWS

Although Christmas is only 14 weeks away, the good news is: there’s still some time to plan your strategy so your small business can stay competitive for the 2023 Holiday Season.  Social Media content popularity is ever-changing, so it’s important to stay informed on the current trends while still staying true to your brand voice.  So, here’s your reminder (or alert) if you haven’t finished your campaign strategy and calendar, or haven’t even started. 

EJ Media Marketing provides media that matters, specializing in helping small businesses shine on social media to reach the clients that matter the most. If you’re interested in booking a FREE discovery call, click HERE.