Seven tips to maximize holiday sales For a small retail business, the fourth quarter can be a big deal for the bottom line. For some retailers, the holiday season can represent anywhere between 20 - 40 percent of annual sales. Good planning now will help retailers make the most of this important season. 1. Create a stellar holiday marketing plan Start by creating a detailed plan that includes a variety of marketing platforms such as print and online advertising, holiday store signage, direct mail, email marketing and social media. In addition, consider implementing some grassroots marketing strategies to inexpensively target customers in your community. For example, you can partner with other small businesses in your community to hand out coupons or flyers for one another, network at local chamber of commerce meetings (many of the members will be looking for holiday gifts for family members or clients), call VIP customers to personally invite them into the store, post on your town’s forum, post on local “mom blogs” and distribute store flyers in places such as a gym or supermarket. 2. Plan special holiday events. Store events are also a very effective way to drive more traffic to your store during the holiday season because they give customers a reason to shop during a specific time frame. One event you should add to your holiday event marketing plans this year is Small Business Saturday. This is a nationwide initiative on the day after Black Friday, November 30, that encourages consumers to go out and celebrate and support the local independent businesses that are a vital part of their communities. Last year, millions of consumers shopped small. With growing consumer interest in supporting local businesses, you can leverage this powerful national event by inviting your customers to participate in the day through email marketing, direct mail, store signage, and social media posts. You should also promote your participation in Small Business Saturday in all of your print advertising as a way of attracting new prospects into the store on the day. You can download free marketing materials on the Small Business Saturday website. 3. Offer holiday deals and discounts. Consider running special product promotions throughout the holiday season as an incentive to get customers to come into the store and buy. Some stores even sell a few products during the holiday season at a loss, known as a “loss leader” to lure customers to the store because they know that once the customer is in they will typically buy more. 4. Hire ahead of the holiday rush. Most retailers agree that exceptional staffing is a key element in holiday sales success. If you need to beef up your team for the season, it’s important to start the hiring process as early as possible. Remember to execute a thorough training program for your entire sales team that includes customer service tactics, in-depth product information and tips on handling a large sales volume to get everyone ready and excited for the holiday rush. 5. Make sure you have enough inventory. It’s very challenging to stock just the right amount of inventory to ensure that you have a vast product selection with a mix of specialty items that holiday shoppers are searching for. Plan on doing a holiday inventory assessment to confirm that you have ordered enough across the different product categories to last throughout the season and hit your numbers. If you realize that you still have not ordered enough, it’s not too late to reach out to wholesalers to add to your holiday buying. 6. Use your store windows. Store windows are a powerful marketing vehicle to help you promote and sell specific holiday products. They also serve as great tool to help you attract more customers into the store. Make sure your windows create visual impact, are well lit, have strong signage and that you use vertical and horizontal space to tell your merchandising story. 7. Promote holiday gift cards and gift certificates. There is a lot of research that shows that holiday gift card giving is on the rise. Make sure that your store is top of mind with customers who want to purchase a gift card rather than a specific gift. Promote your store gift cards in all of your marketing efforts. In addition, you might also consider giving a small gift card to buyers who spend over a certain amount in your store during the holiday season. Implementing these savvy marketing strategies can keep you ahead of the curve this holiday season and make it a signature year for blockbuster sales.
Posted on: Wed, 25 Sep 2013 16:33:51 +0000
Trending Topics
Recently Viewed Topics
© 2015