The festive season is one of my favourite times of the year. It's also one of the busiest times of year for most businesses, which is why it's so important to plan effectively for the season. I've compiled my top tips on how to increase sales during the festive season.
Top Tip #1 - Spread festive cheer
The festive season is one of the best times to connect with your customers by spreading some festive cheer. There is usually a genuine sense of community around the festive season so if you want your business to benefit from holiday spending then you will need to engage with the festivities. Update your website and post holiday appropriate content whilst also plugging your own products or services.
Top Tip #2 - Implement a marketing campaign across all sales platforms
The months leading up to the festive season are incredibly important as most businesses begin to implement their marketing campaigns around this time. Most campaigns usually kick off at the end of October and start to build momentum in the weeks leading up to Christmas and New Years. Whatever marketing campaign you decide to employ should showcase whatever products or services your business is offering in the lead up to the festive period. Your campaign should also include information on any changes that are likely to affect your consumers because of the holiday season.
Top Tip #3 - Giveaways, sales and promotions
The festive season is often touted as a time for giving so why not reward your customers with giveaways? Most business use this time to really connect with their customers and give back to those who have supported them throughout the year.
Sales and promotions are also a great way to boost sales and encourage spending in the short and long term.
Nick Swan, CEO of VoucherCodesPro, commented:
"Sometimes you have to give something away in order to make a larger profit down the line. We’re not saying that brands have to physically give items away, but offering discounts of 10%, 20% or more is a sure-fire way to get a potential customer's attention, and by hooking them in with an offer of interest, brands then have the potential to make further sales and higher profits in the long run."
It is however important that you carefully plan whatever discounts you plan to offer and whether your business will be able to sustain the loss. Careful planning is crucial as being overly generous could have serious cash flow implications.
Top Tip #4 - Be fully stocked
It goes without saying that demand should never outstrip supply so it is crucial that your business is fully stocked over the festive season. If your business is dependant on suppliers or manufacturers then ensure to place orders well before the season commences so that you're fully stocked and ready to honour any orders placed during the season.
Again, careful planning is essential to ensure that you have ordered enough stock to meet demand. It may be tricky to estimate how much stock you might need so it is worth looking at your sales patterns throughout the year in order to assess how much stock you might need. You should also consider how sales might be affected based on any promotions you might be running.
Top Tip #5 - Encourage conversions by adjusting delivery strategy
A great way of increasing conversion rates is to offer a wide range of delivery options.
42% of online shoppers in the UK prefer Next Day Delivery as compared to 11% who prefer click and collect (Statista)
If you have an online business then offering your customers a wide variety of delivery options will definitely influence their spending habits. This applies before and after the major holidays so if you are able to promise and deliver an excellent delivery service during this period, your customers will definitely appreciate this.