We know, we know – the holidays are just beginning. However, successful small business owners are always one step ahead of the game. They have a plan to avoid post-holiday season drought. Just like preparing for the holiday season before it started, it is smart to strategize early about how to keep the momentum going even after that seasonal rush.
While the holidays are extremely profitable for businesses in most industries of any size, the aftermath does not hold quite the same reputation. Consumers are drained from the festivities and budgets are tighter. Small businesses need a completely different approach to this since consumer situations are very far from how they were just days prior.
Whether you hit the ground running or have some downtime, here are strategies to avoid that post-holiday sales drought:
Capitalize on the “New Year” mindset
Gyms and fitness centers aren’t the only types of businesses that thrive off this time of year. Buying patterns during the beginning of the year will likely be more inclined into consumers’ New Year’s resolutions. Statistics show that 64% who make these resolutions are still committed at the end of January, but that drops to 44% by July. Plan ahead for this to avoid post-holiday season drought. Businesses should strike while the iron is hot; concentrate their New Year resolution based marketing/product when consumers are still interested to earn higher sales.
Invest in a retargeting campaign
Make use of the increased holiday online traffic by starting a retargeting campaign for after the holidays. You’ll have a higher than usual number of visitors to your website, and what better way to get them to come back than by serving them ads. AdRoll said that in general, only 2% of shoppers convert on the first visit to an online store. The goal of retargeting is to bring back the other 98%.
Include after Holiday coupons in the busy months
Plant the seed early on by including coupons and gift cards that are good for the early months of the year during the holiday shopping season (place a strategic expiration date on it). This will give the consumers reason to come back even after the holiday rush is through.
Launch a new product/service
Take advantage of the downtime and work on launching a new product or service. This will push potential sales for the coming year and elevate your business. Another option for small business owners is to plan to launch in the beginning of the year. January is shown to be one of the two times of the year where the service or product has the best chance of exposure. It should be well-planned and marketed either way!
Have a return strategy
You can also expect a large number of returns post-holiday season.. Have a return strategy ready that will entice them to either keep the product or purchase something else. In addition, make sure that your staff is ready and informed regarding your return policies to avoid post-holiday season drought. Emphasize to them as well the importance of handling returns politely and graciously. Good customer service will strengthen the chances of making long-time customers.
Take it a step farther and explore ways to help your company with working capital.
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