3 Tips To Help Your Business Make A Bigger Profit This Holiday Season
With the holidays coming up, there are people the world over ready to spend, spend, spend on gifts and more for themselves and the people they love. But if your business doesn’t have a business plan template for how to take advantage of this big purchasing time you could miss out on a huge profit.
So to help ensure that this doesn’t happen to you, here are three tips to help your business make a bigger profit this holiday season.
Consider Expanding Your In-Store Hours
With the sheer amount of shopping the consumers have to do during the holidays, it often makes sense for brick and mortar stores to consider expanding their in-store hours leading up to these big shopping days.
According to Daniel B. Kline, a contributor to Fool.com, expanding your in-store hours should definitely be something you do if you normally have very limited hours or aren’t open on the weekends. Just make sure, however, that you release your extended hours through social media or on your directory listings so that people know you’ll be open beyond your normal hours and it’s not a waste of your time or money.
Run Multiple Flash Sales
Because people are so willing to spend a big chunk of change over the holidays, it’s usually worth your while to offer some kind of promotion or sale that encourages customers to spend their money with you.
When deciding what kind of sale or discount to offer, Gary Nealon, a contributor to Forbes.com, suggests that you run multiple flash sales rather than just one sale throughout the entire holiday season. Especially if you do the majority of your business online, sending out an email or posting something on social media stating that you’ll be having a limited-time flash sale could be just what your followers need to get them to your website and making a purchase or two from you.
Offer The Right Promotions
In addition to sale prices, there are other types of promotions you can run that will entice consumers to spend more of their money with you over the holiday season.
According to Syed Balkhi, a contributor to Inc.com, the winter holidays are a great time to get creative with your promotional offers. Things like gift guides, combination packages, and free shipping are all things that will not only make gift-giving easier for your customers to do, but will also show you as a useful, helpful company that they’ll want to come back to again and again for more gift ideas.
If you’re wanting to improve your sales numbers during this upcoming holiday season, consider implementing some of the tips mentioned above to help your business make a bigger profit in the next few months.