How Much Can Your Business Make This Cinco de Mayo?

Cinco de Mayo is celebrated on the 5th of May every year. Contrary to popular belief, Cinco de Mayo is much more than an excuse to celebrate with tacos and tequila—that’s just an added bonus. The date symbolizes and celebrates the day the Mexican army defeated France at the Battle of Puebla during the Franco-Mexican war—it is not Mexico's Independence Day. Nevertheless, it is still a commemoration of the strength and resilience Mexican people exhibited when their land was at stake. 6000 French troops faced 2000 Mexican soldiers on the morning of May 5th. By the evening, Mexico had claimed its victory. Fewer than 100 Mexican soldiers had been killed in the battle. Here at Perfect Imprints, we want to educate those who wish to celebrate and give business owners insight on how to promote their business effectively for the holiday. So, exactly how much can your business be making this Cinco de Mayo? Read more to find out.

Finding a Niche for Cinco de Mayo

It has been found that Cinco de Mayo is celebrated much differently by Americans than those of Mexican descent, themselves. This leaves multiple demographics to market towards and multiple different techniques that need to be applied when distinguishing a demographic! Here is how you can target your specific demographic:

Mexicanos

Most Mexican families celebrate this holiday the traditional route. Typically, the day is spent with family and close friends to reminisce about Mexico’s strong-rooted history. This celebration contains an abundance of food, dancing, music, and prayers. Oh, and a mariachi band is almost certain to be present. Within Mexico, you can find people filling the streets to participate in parades and other activities. Men, women, and children dress in vibrant, traditional, outfits and joyously go about their day!

Americans

Most Americans focus on the party aspect rather than the cultural and historical significance. A 2018 study shows that 90% of Americans have no idea why they even celebrate Cinco de Mayo, but they plan to participate in its festivities, anyways. Let’s be honest, when you think of Cinco de Mayo, you think party, half-price margaritas, and bottomless chips with a side of queso (cheese)--and that’s okay. My reasoning for thinking that? We will get to that in the next section! My point being is that these two demographics are relatively similar apart from one major contrast that will affect how you should market--history.

Business Trends on Cinco de Mayo

On average, a Mexican restaurant sees a whopping 126% revenue increase on Cinco de Mayo apart from any other day. Despite how Americans choose to celebrate, the Mexican community is still getting recognition for their continuous hard work and resilience! Continuing to honor the Mexican community is far more important to me (a Mexican-American) than debating on how people should celebrate this holiday. Nevertheless, an average local restaurant can also expect to see higher profits--a 44% increase in revenue on Cinco de Mayo, to be specific. Aside from restaurants, all businesses can expect to see an overall increase in profits when their marketing strategies are executed correctly. For example, brands such as Corona and Avocados From Mexico have associated their names with the holiday, and have done so very well. The profit margin is what makes the holiday the perfect opportunity to promote your own business; the history behind the day is what makes this the perfect opportunity to spread awareness--do both and seize your opportunities.

Marketing Strategies

Consider Cinco de Mayo the jumpstart to your summer sales. Just because this holiday is celebrated differently amongst people, doesn't mean that you can't promote your business in a tasteful and artistic fashion. Love for alcohol, sales, and food seems to be the common denominator between the segmentations.

1. Promotional Products

With the use of Cinco de Mayo-related promotional products, you can set your business apart from any other ordinary business that celebrates the holiday. According to Forbes, "Promotional products still offer high ROIs in marketing due to the way they impact the public."

History-Related Promotional Products

When making an effort to drive sales, it is extremely important to be culturally sensitive. Cinco de Mayo is a Mexican holiday, not one that is celebrated amongst all Hispanic communities. Here are options to consider when focusing on the history of the holiday:

Party Promotional Products

I told you, tacos and tequila were just an added bonus, but they sure to make the night fun! Add to the excitement with these branded Cinco de Mayo Party favors:

2. Social Media Giveaways

Social media is a great way to promote your business, especially if you offer an incentive! Giveaways allow your business to be shared throughout a large network and enable consumers to engage with your business--big or small.

3. In-Store Sales

It all started with a BOGO sale! Whether that "buy one get one" is applied to margaritas or t-shirts, this is an excellent marketing technique that is sure to be appreciated by anyone celebrating the holiday! This alone drives incentive for consumers to visit your company.

4. Specials/Catering Deals

Something that has become relatively popular amongst marketing campaigns is offering special items (such as new menu items or unreleased merchandise) and/or offering catering deals. This works especially well for the hospitality industry.

5. Contests

Contests create a fun environment for businesses to host. It drives more traffic in terms of spectators and participants. In most instances, hosting an event creates an excuse for consumers to purchase something. Incorporate these fun ideas in your marketing strategies:

• Traditional Mexican dance contest
• Taco eating contest
• Trivia night
• Mexican karaoke

Summary

• Holidays, especially Cinco de Mayo, make for the perfect excuse to market your business and generate more awareness.
• It is vital to know the history behind each holiday so you know how to target your specific niche. If marketing is not executed correctly, your campaign could be detrimental to your business and you could lose many consumers in the process.
• Incorporate one of the many marketing techniques to make a lasting impression and drive more revenue.

For more information regarding ways in which Perfect Imprints can increase your Cinco de Mayo sales, contact us today!