Five Business Expert Suggestions to Boost Your Small Business
Christmastime is an exciting time to be a small business owner because of the spike in sales. But, if you’re not ready for the celebrations, you might not be able to handle the demand, or even worse, you might not be seeing the amount of sales you had hoped for.
Thankfully, highlighted five strategies for small companies to prosper and increase sales in the weeks before Christmas.
Reduce the strain of holiday shopping
Customers may find it stressful to shop for gifts for loved ones during the holidays because they have to find the perfect present or manage large sums of money in a short amount of time. However, small businesses can reduce this stress and boost sales by offering simple solutions.
Customers’ Christmas shopping is made much easier when gift wrap is available for a small fee with any purchase. Not only does this eliminate the need for them to shop around, but it also saves them time when wrapping gifts. Furthermore, you could provide a customized message to alleviate their concern about buying gift tags.
If you own an online store, you can modify your website so that the various categories of Christmas gifts—such as stocking stuffers, gifts for men, women, and kids—are displayed on the home page. Customers won’t have to visit one of your rivals when they can simply navigate your website and find exactly what they’re looking for.
Stop abandoned carts
A problem unique to small business owners operating online is abandoned carts, which arise when a customer reaches the checkout stage only to be confronted with unforeseen expenses like expensive shipping charges.
Offering free shipping on orders over a predetermined threshold is one way to address this issue. By promoting this on your website, you will not only differentiate yourself from the competition but also lessen the possibility that customers will give up on their purchase because the price is completely clear. Plus, they can buy more gifts in a single order to be eligible for free shipping. This might not be cost-effective for some businesses to use year-round, so limiting its use to the Christmas season can increase sales without having negative effects.
On the other hand, shoppers who wait until the last minute might get to the checkout and find that the item they wanted to buy won’t arrive in time. Therefore, if next-day delivery is an option for your company, consider implementing it to keep potential customers from leaving their carts unattended and shopping elsewhere.
Establish a sense of urgency
Sales are a great way to draw in both current and new customers. While the lowered price is obviously a plus, setting a time limit for your sale will make customers feel compelled to buy the products before the price goes back up. They are therefore urged to move quickly and close a deal.
The rule of 100 is a useful tool for discount implementation: if your product’s original price was less than $100, a percentage-based discount will be more appealing; if it was more than $100, a numerical discount, like $50 off, will be more appealing.
Provide a reward
Businesses face intense competition during the busy Christmas season, but you can differentiate yourself from the competition by providing incentives to your customers.
Giving consumers a discount off their subsequent purchase is a terrific way to win their loyalty after they purchase your goods. You’ll not only differentiate yourself from rivals, but it will also help you especially if they buy things early in the Christmas season. They probably have a lot more gifts to buy and will choose your company to save money and get their reward.
Hire temporary employees
During the holiday season, your small business—whether it operates online, in person, or both—will definitely require additional staff to assist with deliveries and cash register operations. Nonetheless, a sizable staff might not be necessary for the company during the slower months of the year.
By hiring temporary workers, you can make sure your small business has the extra assistance it needs to continue operating smoothly even as sales grow. Without the additional staff, consumers might not be happy with their experience—perhaps if their delivery takes too long—and they might not come back. If all you’ve done is hire temporary staff, you won’t have to worry about paying the salaries of a large number of workers when business slows down after Christmas.