How Entrepreneurs Can Prepare Their Business For The Holiday Season?
The end of year holiday season is the most busiest and the most profitable time of the year for online businesses, especially E-commerce stores.
It can be both; happy time for some businesses and full of distress for others.
There is not just a great jump in the number of order but the size of orders as well. If the business deals with this amount of pressure work with ease they can on average make 40-50% more revenue in this last quarter of the year.
No matter if you are in store front business or sell through E-commerce, this is the time to make your marketing and sales strategy to nail it on the holiday season time.
If your business’s major chunk of the profits generates from the month of November till January for events like Thanksgiving, Black Friday, Christmas, New Year Eve, Cyber Monday etc. You should make sure that your business is fully equipped for the Holiday Sales Season.
Just check out this table to have a fair idea of average sales in this holiday season.
If this is not the case with you, you still should place some of your products or services on sale starting November so that you can end the year on a good note.
Just answer this question. Is it easy to forget upcoming holiday season with your daily tiresome effort to run your business? Are you letting this opportunity go and end up your year in regret?
So, prepare you jet-packs and work to the fullest as never before in the year’s time. By preparing yourself in advance you can be saved from sorrow by letting go this opportunity to utilize your business to the fullest so that you can spend your vacations with your friends and family in a relief.
Here is the checklist to prepare for entrepreneurs to prepare their business for the holiday season:
1). Get your online store ready:
If you sell through online or E-commerce stores it’s time to prepare your site for the holiday season. You should make sure if your technology is working and can bear a large amount of traffic and could provide data backup before your customers lands on you page.
You should also check your security plugins to handle any cyber threats. Just make sure that if you have any update in your website to make don’t do it at this time and only focus on your current system and prepare to provide support.
Here are few things which should be taken care of:
- Website loading speed.
- Spam filters.
- Evaluate your E-commerce shopping cart.
- Test and evaluate the payment options available.
- Prepare for spikes in website traffic.
By making these things prepare it will save you from big problems on the sales day.
2. Prepare your inventory:
After making your website ready you should then look for you inventory. Business’s success in the holiday season depends on the ability to fulfill their customer’s demand efficiently.
You can look up for past year sale’s data of your firm and the industry as it will give you a rough idea on what stocks you should keep. If you have not measured and recorded last year’s data then do it this time so that it can help you in the next holiday season.
But keep it to the optimum level, don’t order so much that it affects your investment and don’t order so low that you run out of stock in few hours.
You should have communicated with your vendors before hands and order your stocks. Just make sure that you arrange for a backup for your stocks.
Also, prepare your packaging in advance too. It’s the main thing for your branding and to amaze your customers.
3. Delegate and reduce the back office work:
As an entrepreneur and the days approaching, you should not worry about the back office work. You should delegate the task and give responsibility to your employees.
You can’t do everything on your own. So just believe in the learning and training you have given to your workforce. It can be fine just need to motivate them and deal with all the issues with positive set of mind.
For your workforce, especially millennials, just tell them that they are answerable for everything under their responsibility. They need to manage if anything breaks down and help is not gonna come. Just help yourself.
Learn to manage your time like a professional: 10 Must To Know Time Management Tips To Ensure Success For Entrepreneurs
4. Unleash your advertising and marketing gears:
How your customers gonna know you are offering holiday season sale?
Definitely you need to tell them that what offer you have for them and on what items. If this interest them, your discount offer on products and services, believe me they will buy it from you in bulk.
Whatever marketing channel you opt for whether:
1). Email Marketing
2). Outbound marketing, including banners, billboards, TVCs.
3). PPC and Social media advertisement like Facebook Ads.
4). Or any other digital channel you use.
You should be preparing in advance for all of them which you be using. You should work right now on your SEO (Search Engine Optimization), tools like SEO Yoast will help, and should test your CRO (Conversion Rate Optimization), tools like Crazy Egg, Optimizely, Hot Jar etc., can be used to test your funnels and onboarding.
5). Review and implement the process to gather and analyze this year’s data:
Gather the data is much important for future use and to make decision benefiting your businesses. If you had tracked, recorded and analyzed last year’s data… You should have known what ease and benefits it can provide.
But if you have not done it…
It’s never too late. So, just start collecting data this time and organizing your self. If you are running your website you should make sure Google Analytics is installed correctly and tracking your data.
For the social media campaigns, like Facebook Ads just make sure you pixel your audience. This will help you in showing the ads to those audience again which help in developing brand recognition and recall.
Check this out: Why Marketing Metrics Is Important?
As it turns out:
I have shared with you some quick tips on how entrepreneurs can prepare themselves in this holiday season. You know what? These 2-3 months make or break businesses as well.
If you have not prepared for it and organized yourself likewise. You can still do it now. You must have heard ‘Better late than never’.
Just keep in mind to have the right plan for marketing your business during this season. Believe me you can make wonders if you nail it in this holiday season.