Sheatwork observes that with India emerging as the third largest start-up base, businesses are poised to grow and what better time to step up business than the festival season?
Festival times have been lighting up the lives of Indians as the phase is on. It’s not just fun-times that have got us involved, but business ventures can also take a step ahead to ensure more productivity. And, entrepreneurs can get creative, to work out ideas to accelerate their business or startup venture now.
Business ventures were heading to grow and it was predicted in 2016, that the number would reach 10,500 by 2020 according to a report – “Indian Startup Ecosystem Maturing – 2016” report by Nasscom-ZINNOV.
It was noticed in October 2019, that startup funding jumped 25% despite the ‘bubble’ fear. Start-up funding in India has grown at a rapid pace in the last five years. So, if you are planning to launch your own start-up, now is the time. However, careful planning and futuristic approach are imperative. And, now that the festive season is on, entrepreneurs can think of ways to up their marketing.
During festivals, some marketing strategies that will work
Festivals that hold sway like Diwali and Dussehra have passed by and the holiday spirit still lingers. With the Christmas and New Year round the corner, entrepreneurs can make the most of this season.
The holiday season comes with a big bonus of reminding your customers about the Indian culture by associating it with your products. You can plan out effective marketing strategies during the festivals that will help you in creating a better connect with your customers or clients.
During festivals, people in India are ready to spend and entrepreneurs should be geared up to meet the surge in sales during the festival season – like keep enough stock. We can note that melas are held all over the country, and small businesses can make good use as the melas are ideal to introduce your products to variety of customers, which can increase sales.
Develop good ad campaigns for festivals: Celebrate the festivals, but creating memorable ad campaigns can work wonders. Popular brands develop high-recall campaigns that go a long way in creating impact and thus boosting sales.
Special offers & discounts: During the festive season, people are interested to buy new things and you should target your customers – to introduce some offers like discounts, free samples, buy-one get one free offer, discount on second purchase and so on.
Sponsor celebrations/events: As you know, we Indians celebrate and enjoy the festivals by meeting up with friends and relatives. You can cash in on this opportunity and provide them a platform to do so and, at the same time, you can ensure that your company and products are promoted through it and during it. You can also keep some contests, quizzes and a host of competitions to further promote your brand at the event. Of course, attractive product display can add to the excitement.
Keep the communication alive in the minds of your TG. And, remember to be in close touch during and after the festivals – for this can go a long way in your growth story.