The end of the financial year is fast approaching in Australia and as usual, it’s bringing a range of marketing opportunities with it. If you’re struggling to create an EOFY marketing strategy to suit your business, don’t despair just yet! The Search Marketing Experts know how overwhelming this time of year can be for every Australian business, especially the smaller ones. Whether this is your first EOFY as a small business owner, or you’re simply struggling to create new ideas after years in the game, we’re here to help. Keep reading to learn how you can make the most of EOFY and discover our top five marketing ideas for small business owners to help your website shine.
Participate In The End Of Financial Year Sales
Okay, we admit this one seems kind of obvious, but that’s precisely why we have to talk about it. If you’re not running an End Of Financial Year Sale, you’re missing out big time. Everywhere you go during this period, on every website you browse, you’re guaranteed to see the same familiar signs…
EOFYS! EOFYS! EOFYS!
We all know that acronym, what it stands for, and what it means. It means sales, savings, deals you don’t want to miss out on, and stock you’ll never see again. People shopping at this time of the year expect to see these signs. What’s more, they’re ready to spend their money with any company that has one, be it in their shop window or on their website… This is exactly what makes EOFYS so important for your business.
According to a study conducted by Mozo at the end of the 2021 financial year, 81% of Australians were expected to take advantage of last year’s EOFY sales. With such an overwhelming majority of people around the country anticipating these sales, marketing them is almost too easy. People are actively searching for these sales all throughout May and June. If you’re yet to inform your customers that your business is participating in EOFYS too, we suggest letting them know ASAP. Reap the rewards before it’s too late!
To really make the most of this opportunity, we recommend getting in touch with an SEO agency. They will help you with SEO marketing, informing you of the specific keywords people are searching for during this time so you can optimise your content. With such an uptick in searches from people ready to purchase, any investments to advertise your EOFY sales will be well worth the time and money spent.
Buy One Get One Free
EOFY is the best time of year to clear out old stock and make way for new products. Accurate stocktake plays a vital role for many businesses as they put together their financial reports in preparation for tax time. This stock count has to be precise as there’s no room for error when it comes to the tax office! With most small businesses unable to afford the technology needed to automate these stock counts, many find themselves conducting them by hand.
Not only is the time-consuming nature of large stock counts just downright unpleasant, but it can also lead to errors. The more stock you have to count, the longer it takes to get the job done. The longer the job takes, the more time there is for mistakes to occur. Getting rid of as much old stock as possible through incentives such as “Buy One Get One Free” makes this process much easier and more efficient. On top of making your customers happy with the reward of a free gift, you’ll also be making yourself and your staff happy as you begin organising your business’ tax report. It’s a win-win situation for everyone involved!
Introduce A Loyalty Program
As we know, EOFY is an incredibly busy time for Australian businesses. The majority of consumers are seeking out new sales to participate in. Because of this, loyalty programs present a golden opportunity for increasing customer retention. Loyal customers are almost guaranteed to purchase from you if you run a sale. It’s likely you’ll gain new customers during this time too. With such a high increase in site traffic, there’s no better time to introduce a loyalty program.
Loyalty programs are a fantastic marketing tactic. They allow you to capitalise on the current sale while also creating opportunities for more revenue in the future. There are two effective ways to implement a loyalty program. The first is to create a site pop up that appears as leads make a move to click off your website. The second way is to allow them to opt-in at checkout. Both options encourage customers to further engage with your site and increase customer retention.
Start Advertising New Products
Right now, you’re likely preparing to say goodbye to your old stock in time for the new financial year. So it makes sense to begin advertising the next line of goods that are about to become available. Why not run social media campaigns to tease future stock? Or give people an incentive to join your mailing list by opening preorders to customers who sign up? However you choose to advertise your next line of products, make sure it remains fresh, consistent, and exciting.
In the lead up to the launch, we recommend leaving out just enough information to encourage people back each day for updates. If you run a clothing business, for example, it can be a good idea to tease your audience with fabric prints without revealing the whole product. Another idea would be to introduce a different product each day on your social media. Then, once the entire line has been revealed, open up pre-orders.
Structuring your content to consistently push the entire collection without seeming repetitive is essential here. You want to keep your audience invested in your advertising campaign without becoming an annoyance. Focusing on a different product every day will leave your customers feeling excited by the upcoming launch rather than exasperated by it. In turn, this will make them much more likely to make a purchase when the collection finally drops.
Optimise And Advertise
Our final tip will help you use what’s left of your business’ budget before the new financial year. Invest in Google Ads and SEO marketing with help from a digital marketing expert. These strategies have an incredible Return on Investment (ROI) and are the perfect marketing solutions. Hiring a digital marketing expert will help you in both the short and long term.
Short term, running paid advertisements during EOFY will generate traffic at the best time. Remember, people have an increased incentive to buy and are actively searching for deals. Long term, SEO marketing is a great way to prepare your website for the new financial year. Fresh SEO content will help your website to appear on the first page just in time for new product launches. It’s also a fantastic way to use up the remainder of your budget!
Talk To The Search Marketing Experts Today For More Tips This EOFY!
Now we’ve gone over our top five tips, you’re well on your way to ending this financial year in the best way possible. If you’re ready to implement these ideas with help from digital marketing experts, get in touch today! We will grow your digital presence and optimise your website, increasing your online success and boosting your business. Whether you need help with SEO marketing, Google Ads, full website rebuilds, or something else entirely, we have the services for you. Contact the Search Marketing Experts today and learn how we can help your business reach new heights in the upcoming financial year.