With the weather unseasonably warm for October, I found myself cutting the grass yesterday while my daughters paddled on the lake. But reality is setting in — it’s almost time to swap the lawnmower for snow shovels.
While getting in this bonus mow, I thought about the seasonality of products and how it impacts our marketing strategies.
Seasonality in product demand is often obvious. Swimsuits in summer, snow boots in winter — no surprises there. But sometimes, the ebb and flow of a product’s popularity throughout the year only reveals itself after a full cycle of selling.
Consider these less obvious examples:
- Dating apps see a surge in January (New Year’s resolutions) and again in September (back-to-school season).
- Vitamin C supplement sales peak during cold and flu season.
- Toy sales spike not just at Christmas, but also in late summer for birthday season.
Understanding your product’s seasonality is crucial for several reasons:
- Inventory Management: Avoid overstocking during low seasons or running out during peak demand.
- Marketing Budget Allocation: Invest more when your audience is most receptive.
- Product Development: Time new releases to coincide with peak interest.
- Cash Flow Planning: Prepare for leaner months by capitalizing on high seasons.
But how can you uncover these patterns if they’re not immediately obvious?
- Track Sales Data Meticulously: Look for patterns over at least a full year, preferably more.
- Monitor Search Trends: Tools like Google Trends can reveal when interest in your product category peaks.
- Analyze Customer Behavior: Look for patterns in when customers engage most with your brand.
- Consider External Factors: Holidays, weather patterns, and cultural events can all impact demand.
Once you’ve identified your product’s seasonal patterns, here’s how to adapt:
- Diversify Your Product Line: Offer complementary products that peak in different seasons.
- Adjust Your Marketing Message: Highlight different product benefits as seasons change.
- Create Off-Season Promotions: Find creative ways to boost sales during slower periods.
- Plan Ahead: Use slow seasons to prepare for upcoming busy periods.
In “I Need That,” we discuss the importance of understanding customer needs. Seasonality adds another layer to this — recognizing when those needs are most pressing.
One note about that. Ad platforms are most competitive at peak times, and they all run on bid systems. That makes them more expensive around Black Friday and less so in mid-January. Think about how you can capitalize on less competitive periods, without compromising your peak selling season. Special promotions like off-season sales can be highly effective.
Your challenge: Look at your sales data for the past year. Can you identify any seasonal patterns? If you’re just starting out, research your industry to anticipate potential seasonal fluctuations.
Just as we adapt our activities to the changing seasons, our product strategies must evolve throughout the year. By understanding and embracing these cycles, we can ensure our products are always in season. (Or at least for more of the time…)