Survey of 2023 Holiday Spending

I surveyed my audience on LinkedIn on how their spending was impacted by inflation.

This is an updated extension of my last report where I surveyed my audience on LinkedIn about their holiday spending intent, method of purchase, types of purchase, and sentiment in the U.S. Consumer spending is always top of mind for marketers, sellers, and retailers.

This year, I focused only on inflation and holiday spending.

1. How has inflation impacted your holiday spending?

How did inflation impact your spending during the holiday season? Share your thoughts.

As you can see, 71% percent said they spent less during this holiday season. Consumers must see value in what they are buying. Brands need to create memorable experiences for consumers with their offerings

Based on my research, my finding suggests:

1. Inflation has dampened consumer spending during the holiday season.
2. Customers are taking a closer look at their finances this year.
3. Brands need to provide value offerings that create memorable experiences for customers. 

How did inflation impact your holiday spending? 

Please share your thoughts and join the conversation.

Additional places to find my content and blog

WordPress: https://dangalante.me/

Tumblr: http://www.askdangalante.com/

LinkedIn: https://www.linkedin.com/today/author/DanGalante

Medium https://medium.com/@DanGalante

YouTube https://www.youtube.com/trendsettingsm

Anchor https://anchor.fm/dangalante

About Me

I’m a Strategic Marketer with Field Sales, Sales Enablement, Content Creation, and, Classroom Teacher/Trainer skill sets using Marketing to drive Sales/Growth.

As a Marketer, I’ve worked with Start-Ups, a Political Campaign, and a Digital Marketing Conference.

I’m certified in Inbound Marketing with classes in Marketing, Product Management, Product Marketing, SEO, and SEM.

Before teaching, I was an Outside Sales and Marketing Rep. selling and marketing dental products to Dentists using consultative selling, trade show marketing, field marketing, and market research.

I publish Sales, Marketing & Social Media Today a blog covering industry events and trends.

I’m seeking a full-time role in

Inbound Marketing, Digital Marketing, Content Marketing, Product Marketing, CI, Demand Generation, Social Media Marketing,

Sales Enablement, Enablement, Sales Strategy, Marketing Strategy, Employer Branding, and Recruitment Marketing.

Open on title, industry, company, location, and level. Reach out on LinkedIn or at dan@dangalante.com to start a conversation.

Free or Low-Cost Trials

When creating a new offering, I would offer a free or low-cost trial of your product to both end-users and industry experts. Consumers look for social proof before they buy a product. If the product is new, then none exists. To lower buyer resistance, you need to make the buyer feel comfortable about their purchase. Offering free or low-cost trials of your product is a great way to build trust and gather feedback. You can conduct market research and product testing using surveys to ask potential customers about their experience.

If your product helps to solve a customer’s problem, they will be happy to share it with others; increasing the chance of converting prospects into paying users. Product testimonials and endorsements help to address product reliability and usability. Customer testimonials build loyalty, brand recognition, and sales for your product.

Loss Leaders

If free or low-cost trials are not something that you can offer, you can use loss leaders. A loss leader is when you offer a product at a loss or break-even point to gain future business. Supermarkets and e-commerce businesses do this when a new product is rolled out.

Another place I saw loss leaders was in dental field sales. Certain customers were loyal to certain types of equipment. When I asked why, they said that these were the tools they used in school and they were comfortable using them. As a result, they did not want to switch. When I called on dental schools and hospitals, I found they were in contract with larger competitors. My larger competitors sold the equipment at cost; practically giving it away. Why would they do this? My competitors were creating life-long customers trained on certain tools who refused to switch.

Connection, trust, and advocacy are essential for customer acquisition. It is your job to turn your customer base into evangelists.

Free, low-cost trials and loss leaders help to increase sales and customer loyalty. The decision on where to offer a trial or use a loss leader is dependent on the specific product, business, and industry.

How have you used trials or loss leaders?

Share your thoughts.

Additional places to find my content and blog

WordPress: https://dangalante.me/

Tumblr: http://www.askdangalante.com/

LinkedIn: https://www.linkedin.com/today/author/DanGalante

Medium https://medium.com/@DanGalante

YouTube https://www.youtube.com/trendsettingsm

Anchor https://anchor.fm/dangalante

About Me

I’m a Strategic Marketer with Field Sales, Sales Enablement, Content Creation, and, Classroom Teacher/Trainer skill-sets using Marketing to drive Sales/Growth.

As a Marketer, I’ve worked with Start-Ups, a Political Campaign, and a Digital Marketing Conference.

I’m certified in Inbound Marketing with classes in Marketing, Product Management, Product Marketing, SEO, SEM.

Before teaching, I was an Outside Sales and Marketing Rep. selling and marketing dental products to Dentists using consultative selling, trade show marketing, field marketing, and market research.

I publish Sales, Marketing & Social Media Today a blog covering industry events and trends.

I’m seeking a full-time role in:

Inbound Marketing, Digital Marketing, Content Marketing, Product Marketing, Demand Generation, Social Media Marketing, Sales Enablement Enablement, Sales Strategy, Marketing Strategy, Employer Branding, Recruitment Marketing.

Open on title, industry, company, location, and level. Reach out on LinkedIn or at dan@dangalante.com to start a conversation.

Creating content that engages customers is key. Another key element to creating customer-centered presentations and digital content is knowledge of buyer learning styles.

In other words, how do buyers learn best?

There are three learning styles, Visual, Auditory, and kinesthetic. 65 percent of learners are Visual but this is not everyone.

Survey Results

I surveyed my LinkedIn Audience to ask which types of content helps them to learn best and what type of content they value most.

As you can see, people learn best from a mix of written, video, audio, and content formats.

Of the types of content, people want to read, many want to read industry insights, how-to, insights from conferences, and a mix of all of the above.

Based on my findings, I would recommend that content be:

1.Created and repurposed in multiple formats

2.Content is about industry insights, how-to, and insights from conferences

The overall content strategy should be based on how your customers learn and the types and format of content based on their wants and needs.

Bonus Content

In the presentation below, I provide ideas and strategies to:

1.Collect information on your buyer’s learning style

2.Create presentations and content that will engage buyers with content that is optimized to their learning style making it more engaging**

3.Create differentiated presentations and content for all learners when buyer learning styles are unknown

** How to Customize Presentations & content to Buyer learning Styles **

from

Dan Galante

How do you learn best and which content format helps you most? Comment and share.