The last quarter of the year is usually the time when a lot of big-box retailers make the most profit of the year and this is because it’s the time when a lot of consumers are poised to spend. People have worked hard all year and now that the holidays are here, they are willing to spend their hard-earned cash shopping for gifts for loved ones.
As an entrepreneur or small business owner, the next question you should ask yourself is, “how do I make more sales this holiday season?” Yes, the holiday season is not favorable to only big-box retailers, it is favorable to all types of businesses. Yes, every type of business including yours have the potential to increase their sales and make more profit this holiday season if there is a strategy in place.
If you are reading this article and you do not have a concrete strategy in place already, you are late. However, it is better to be late than not do anything at all. This article will walk you through the steps you need to take to increase sales and make more profit irrespective of your industry.[Great Read: 5 Ways to Alienate Your Customers on Social Media]
What Do Consumers Want?
Prior to creating your strategy, you need to have a deep understanding of what consumers truly want. Consumer needs are different for different times of the year. The last quarter is when consumers spend the most. They feel a deep need to present gifts to their family and friends. This means that even though they are poised to spend, they are also looking for gifts they can easily buy for their loved ones.
Consumers want gifts that are unique and reasonably priced. As you think of how to cash in, think of what you can offer your customers that can intersect at the point of uniqueness and affordability.
In order to cash in during the holiday season, you should do the following:
1. Create an Offer
This sounds easy but it’s not usually as easy as it sounds. This is because if you are not strategic about it, you might create offers that might make you run at a loss. When you are thinking of creating an offer, take a look at your current customer base and based on their buying patterns over time, see if there’s a buying trend. What are some of the things you sell that you can package and present to your customers at the season? What are some other opportunities to tap into some other customers? For example, your customers may be primarily adults but you can create a deal targeting the children of the adults. This gives you a wider option.
Also, you can partner with complementary businesses to create offers that their customers and your customers will love. Collaboration helps to alleviate some of the pressure you’d have to deal with and it can also lead to innovation. Keep your mind open to opportunities and learn to liaise with other people.[Great Read: 5 Steps to Making Your Advertising Dollars Count]
2. Develop a Marketing Strategy
Once you create an offer, the next thing to do is to create a marketing strategy. Your marketing strategy starts from the platforms you’ll choose to promote your offer, the budget and the timeline. This is very important because if you want your offer to reach more people than you’d normally reach, then you need to develop a sound strategy to that effect. Without a strategy, you will work hard and have no result to show for it.
Your marketing strategy will also include creative items such as photography and graphic designs you need to push your offer to your ideal audience.
3. Hire an Experienced Advertiser
The holiday time is a busy period and that means millions of other businesses are also competing for the attention of the people you are trying to gain their attention too. As such or if care is not taken, you’ll run into a situation where your message will be drowned in the marketplace. That’s why it is highly recommended that you hire an experienced advertiser to help you push your message out. If you choose to hire an advertiser, the person can either work with the marketing strategy you’ve already developed, or they can also develop one for you based on their area of expertise.[Great Read: Why You Need a Marketing Strategy and How to Develop One]
The popular digital platforms to advertise include Facebook, Instagram, Twitter, Google, etc. Your choice will largely depend on your budget and where your ideal audience mostly spends their time. You should have this data handy. Also, you could explore traditional advertising options such as radio and television ads, magazine ads, etc. Other types of options include influencer marketing, ad buys on popular blog sites, etc.
If you need an experienced advertiser for your Facebook and Instagram ads, our team of experts is ready to help you reach your business goals. Click HERE to contact us today and be on your way to cashing in this holiday season.
Thank you for reading! What is one thing you are taking away from this article? Share with us below.
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