Getting Ready For The Seasonal Sales Boost
A lot of businesses that deal with sales can expect a significant boost to their earnings when the holiday season rolls around. In fact, a lot of businesses plan for it and, indeed, demand it to keep the business afloat. Not only is it essential to make sure that you make the most of those sales periods, but you should also ensure that you’re ready to handle the increased volume of sales and the work that comes with it. Here are a few ways to do that.
Hype up the sales period
You want to make sure that you’re able to get as much extra profit as possible and, as such, you should be ready to boost your holiday sales and revenue to the best of your ability. This means setting up sales, with unique visual assets (whether in-store or online), putting a little extra budget into advertising and outreach, and letting your most loyal customers know about discounts, with some exclusive offers to them through things like your email marketing campaigns.
Make use of backorders
Take the time to complete a sales forecast for the whole season, if possible. With enough years of historical data, plus projections based on any growth or particularly popular products, you might find it’s time to use some backorders. There is an increased financial risk with getting more stock than you’re currently selling, but that’s what the sales forecasting is for. You should ensure that you’re able to meet the needs of your customers as best as possible, especially if you have had issues with your popular products being out of stock in the past.
Get ready for the extra inventory
Of course, you’re going to find that you need to sharpen your supply and inventory management if you’re ordering a lot more goods. Hiring some extra hands to help manage the stock room is one thing, but what if you simply don’t have enough space for all of your backorders? Renting a storage unit specifically equipped for your needs can be a big help. You might want to do this well in advance of the holiday season rolling around as you might find that, just like most other services, storage units are highly in demand when the season comes, as well.
Beef up your sales team
Your sales team, whether they’re hitting the phones or hitting the store floors, is going to play a huge part in ensuring a successful holiday sales period. As such, you should take the time to motivate them properly, whether it’s with bonuses, promises of reward, or holiday pay throughout the season. Make them want to be there as best as possible. If you’re feeling a little short-handed, be ready to hire some additional help for the period, or even to outsource your sales needs. Of course, you want to manage how much your costs cut into your profits, but you had still better be prepared to spend.
Make this year’s seasonal sales period the best yet. Plan for it, and reap the rewards as effectively as you can.
Categories: Outside Contributors