Dan Galante

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. With inflation on the rise, consumers spend differently than when inflation is low.

I asked my audience four questions.

1. How has inflation impacted your holiday spending?
2. Which types of holiday gifts are you buying?
3. How did you buy your holiday gifts this season?
4. Did you use shoppable ads to make a purchase?

Below you can find the results of each survey question.

1.How has inflation impacted your holiday spending?

As you can see, 60% 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.

2. Which types of holiday gifts are you buying?

This survey was split across different categories. Gift cards were top at 33 % percent of those surveyed saying they were buying gift cards and giving cash as a gift. Experiences and electronics were tied at 25 %. Media was in the lowest category at 17%. Across all of these categories, there are opportunities for brands to sell to consumers.

3. How did you buy your holiday gifts this season?

Based on the survey, 56% percent of consumers said they started their customer journey online; including purchases on a mobile device. Brands need to make an e-commerce experience seamless for customers. Most big box stores are creating an omnichannel buying experience; 31% percent of those surveyed stated that they made purchases online and in-store. Small businesses only received 11 %, followed by only in-store buying at 2%.

These findings suggest that small businesses need to create an e-commerce store to create an omnichannel experience for consumers, catering not just to what they want to buy but how they purchase. Small businesses need to show up where consumers make purchases.

4. Did you use shoppable ads to make a purchase?

75% of those surveyed said that they did not use a shoppable ad to make a purchase. Since late 2019, shoppable increased. Consumers can buy products directly from ads on search engines and many social media sites. This will shorten the customer journey.

Based on my research, my finding suggests:

1. Inflation has dampened consumer spending during the holiday season.

2. Brands need to provide value to consumers creating memorable experiences.

3. Businesses should serve consumers on the channels where they make purchases.

4. How consumers buy will continue to evolve.

5. With Shoppable Ads on the rise, the customer journey will be shorter. More purchases will occur during the time consumers search for products.

It will be interesting to see the consumer sentiment and the price of goods with the release of the CPI and the University of Michigan Consumer Sentiment survey due to be released this week.

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

If you want to share your opinion but didn’t get the chance to vote, answer these questions in the comments.

1. How has inflation impacted your holiday spending?
2. Which types of holiday gifts are you buying?
3. How did you buy your holiday gifts this season?
4. Did you use shoppable ads to make a purchase?

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.

Smartsheet Product Marketing Template

Smartsheet.com Product Marketing template

Product Marketing involves more than just supporting the Marketing and Product Management teams. Product Marketers serve Marketing, Sales, and Product teams. Each team has different needs and responsibilities. However, they all play a role in growing the business and serving customers.

Just as Marketing has a plan or brief, Product Marketing does.

Here are nine things to address in a Product Marketing Brief.

1. What does your company do? Does your product offering align with your business goals?
2. What are the features of your product? Do others understand what you are building and why?
3. Does this Product address gaps in the Market? Include an overview of a Competitive and SWOT analysis.
4. Who is your ideal customer or target market? Include an overview of findings of demographic, psychographic, and buyer persona research. Does your product solve customer pain points?
5. How will you measure product success?
6. What are can go wrong? Can failure be anticipated and corrected?
7. What is the roadmap and schedule of the product? Who’s responsible and in charge?
8. Who needs to be included in the project and who needs to approve deliverables?
9. How will goals be tracked? How often will they be monitored? What insights are you trying to glean from the data?

As a Product Marketer, how do you know if you are successful?

Comment and share.

Sales processes include the following: customer development,   prospecting, discovery calls, closing deals, cross-selling, upselling, post-sales implementation, customer experience, obtaining referrals, and testimonials.

What is the hardest part of the sales process?

I surveyed my LinkedIn audience to find out.

Survey Results

Of those surveyed, 53 % said closing deals was the hardest part of the Sales Process, followed by understanding market fit at 22%, Calling on buyers, and knowing their needs at 19% with the lowest being cross-selling, referrals, testimonials, or other reasons at 6%.

Based on these findings, I have included nine ways to enable sales teams to close more deals.

9 Strategies to Empower and Enable Sales Teams to Make more Sales

1.Have Sales and Marketing Management discuss Sales Cycle mapping out Sales, Marketing, and the Customer Journey.

2. Have Marketing go with Sales on calls to observe customer interactions regularly.

3. Take notes from Sales calls to develop answers to customer objections.

4. Role play with the Sales to get better at objection handling.

5. Develop an on-demand LMS for Sales including Decks, Videos, Sales Training materials, Product training materials, Scripts, and FAQs.

6. Use feedback from Sales calls and objections to improve Sales and Marketing Collateral.

7. Assign readings on sales strategy and techniques.

8. Conduct market research to show how is your products and services are better than the competitor. Present market research creating a chart that Sales can refer to when dealing with customers.

9. Develop buyer personas to understand customer buying motives. Share the buyer personas with Sales.

What is the hardest part of the sales process?

How did you fix your sales process?

Share your thoughts.