Depending upon your industry, this may be the busiest or slowest time of year for your business. For some companies products are flying off the shelves, for others it could mean a drop in sales, either scenario greatly affects your bottom line.
Here are some tips so your small business can prep and plan for the holidays accordingly:
‘Tis the Season for Promotions!
With all large retail brands hugely benefiting from the holidays, small businesses can notice their overall sales starting to decline. Not all hope is lost because it’s the perfect time of year to give back and show your customers how much you appreciate them. Small businesses have the advantage of providing products that big chain stores don’t carry, use this exclusivity to attract a wider audience through special promotions. Coupons provide incentives for people to spend.
Offering promotions/discounts to your current client base can be helpful in boosting holiday sales and requires less effort from your marketing team. It also increases repeat business by building loyalty to your brand that will last long after the holiday season is over. Providing discounts can also aid in selling any excess inventory from earlier in the year. If your promotion turns out to be successful don’t forget to make sure you are fully staffed to deal with any seasonal rush. This will reduce stress on your management team and keep you prepared for peak business productivity. Trust us your employees will thank you later!
Digital Sales are Coming to Town
Online sales are expected to increase this holiday season exponentially. According to Fourtune.com, “Total online sales are expected to hit almost $95 billion.” Tweeting promo codes can help increase your conversion rate and ring in the digital sales. You can even give your company website a festive feel by giving it a holiday makeover. Adorning your homepage with some holiday graphics can increase traffic and make seasonal products highly visible to end users. Make sure your online reviews accurately reflect your products, as it is suggested that online reviews are swaying purchases now more than ever, particularly for millennials.
Don’t be a Social Media Scrooge
Utilize your social media channels to further your reach. Social media can keep your customers up-to-date with your latest offers and season exclusives. Do some early planning and have consistent marketing, you want clients to stay informed of any new products or services. Avoid going dark for 2 months just because it’s the holiday season (as some small businesses are guilty of). Look back to see what has been successful in the past, a data-driven marketing campaign is an effective way of capitalizing on your seasonal market. Instead of doing your regular run of the mill email blast, which can come off as too impersonal, try sending out holiday cards with hand written greetings wishing your customers a happy holiday. They will be impressed by your unsolicited consideration and flattered by the gesture.
The holidays can affect your small business in a number of ways so it’s always best to be prepared and think ahead for future operations. Generate a plan of action in order to maximize favorable outcomes for your small business. Whether your business is up or down during the holidays, you can always do things to earn good will for your client base and remain relevant.
* Wahba, Phil. “E-Commerce Sites Are Set to Hit a Major Milestone This Holiday Season” fortune.com. Web
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