According to Investopedia, every year, Americans spend an estimated $8 billion on Halloween. Why do you not Monetize Halloween? In 2015, Halloween costumes were the fifth most popular search term on Google during October. The amount of money spent around this holiday continues to climb every year as more and more people come up with creative ways to celebrate their favorite spooky holiday.
If you have a business or brand that’s not capitalizing on the popularity of Halloween for some reason, it’s time to change that. Here are some tips to help you start monetizing your products or services during the month of October in order to boost your bottom line before the end of the year.
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Offer special promotions/discounts for all things Halloween-related
This is one of the easiest ways to monetize Halloween. A lot of people go out and buy costumes, candy, decorations, and other related materials for the holiday at this time every year, so if you can offer discounts or special promotions on these items and generate more sales; as a result, it makes sense to do so.
Related Article: 5 Ways to Successfully Plan for a Holiday Promotion
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Offer themed products/services
Another way to capitalize on the popularity of Halloween is by offering themed products or services that pertain to the holiday. If your business does not usually provide such products or services, consider branching out into specialized areas just for this one month of the year. The same principle applies with promotional discounts – not only should you offer them for all things Halloween-related that your brand already offers, but also for any new ideas that could be a hit.
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Host an event on October 31st
If you decide to take up one or more of the above ideas for marketing, hosting an event or giveaway on October 31st is an excellent way to bring some attention your way and make some extra revenue. Whether it’s a costume party, a themed sale day at your brick-and-mortar location, or a virtual party, just something fun for your audience to participate in. Events hosted by businesses tend to draw large crowds, especially if there are free gifts and prizes involved (e.g., best dressed).
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Participate in social media campaigns and contests
There are also several Halloween-centered promotions that brands and individuals can participate in with relative ease. These include participating in social media campaigns such as the Great American #HalloweenCostumeCountdown, and contests such as those hosted by BostInno. There are also Halloween-themed hashtags that brands can jump in on, such as the famous #TrickorTreat or #ScaryStoriesIn5Words.
What about a Trick or Treat competition offering your products or services? Let your mind go wild on ideas.
Related Article: 4 Ways to Grow Your Sales through Social Media Engagement During the Holidays
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Offer discounts for bulk orders
Finally, if you’re hosting an event on October 31st or looking to make a profit, offer bulk discounts. Discounts on Halloween-themed foods and drinks are a huge hit. Remember that people tend to go all out when it comes to this holiday. Bulk orders of candy and costumes will always be welcomed. For best results for online services or products, offer special deals like buy one, get one free; selling in bulk will make you the most money. Look at Halloween as a spooky-themed Black Friday. The same marketing principles will apply.
Conclusion:
There are many different ways to monetize your business or brand during Halloween. If it’s spooky, scary, or has anything to do with ghosts, chances are there’s something out there for you to take advantage of. Just be creative with competitions and giveaways. Hopefully, your business will start raking in more revenue beginning this October with these ideas in mind.