Most businesses partake the spirit of the season with improved sales, with some businesses doing as much as 30% of their sales in the final two months of the year.
Here is a sneak peek on what these businesses are doing right.With this handy guide you can maximize your sales this holiday season.Read on….
Focus on your best selling products – Identify your high selling items in the previous few months and ensure that you stock them adequately.In identifying these products it is also important to study customer needs closely.It is also important to promote these items in any advertising and marketing plans.Similarly it may be a good idea to identify the slow moving products and offer a discount to help them move off the shelves.
Inventory Planning – It is important to plan your inventory in such a manner that on the one hand you do not run out of products of interest in the crucial period, while on the other you are not left with excess inventory at the end of the season.
Announce offers and contests – In keeping with the holiday spirit makingsome theme based offers and contests will help you build a customer connect.Improved engagement with customers is likely to result in increased sales.
Focus on customer service- Given the time bound nature of sales in this period it is important that you ensure timely deliveries from your vendors and in turn make timely deliveries to your customers.An irate customer, in today’s age of social media, can negatively impact not just your immediate business butalso erode your brand equity.
Have a plan for gift card redemptions – Gift cards are increasingly becoming popular gifting options.For a retailer though, the timing of redemption of the gift cards is an element outside of their control. This in turn has implications on inventory planning.It is advisable to plan for gift card redemptions post the holiday season.
Advertising and Promotions – The holiday buying season is a great time for businesses to promote their offerings.While mass media advertising may turn out to be too costly for small businesses, this may be a good time to resort to online marketing.
E-mail Marketing – If you have been consistently investing in building a customer list and engaging with themnow is the time to capitalize on it.It is beneficial to send out e-mailers with details of new products, trends and offers.
Online Advertising- Other than e-mailers this is also the time for broad basing your marketing efforts through online advertisements which enable you to segment your audiences closely and target them.Other than online ads, social media marketing may be a great way to reach out to potential consumers.
Peter Zmijewski is the founder and CEO at KeywordSpy. His expert knowledge on Internet Marketing practices and techniques has earned him the title “Internet Marketing Guru“ He is also an innovator, investor and entrepreneur widely recognized by the top players in the industry.