How To Prepare Your Business For Christmas
With Christmas around the corner, many businesses are preparing for their busiest time of year. Despite the ongoing recovery from the covid-19 pandemic and current supply and demand issues, there are strategies that small businesses can put in place to ensure maximum profit during this festive period.
Here we detail a few ideas to help you boost your profits this festive period.
- Black Friday and Cyber Monday
Take advantage of Black Friday and Cyber Monday. Whether you are online or a physical premises, draw your customers in with discounts. These are both big purchasing days for shoppers and gives you the potential to see what works and what does not.
- Get Festive
You may be surprised how far Christmas decorations can go. Keep your customers engaged with a festive environment. It may be worth considering thinking up a special Christmas promotion for your customers. Consumers love receiving a little something extra. Be creative with your promotion.
- Use Social Media
Your Social Media is one of the greatest marketing tools at your disposal. In the run-up to Christmas, it can become invaluable.
Prepare your social media schedule in advance. Think about how you will engage your customers with your products and services. Virtual advent calendars with gift ideas have become increasingly popular over recent years and are a good sales tool. Ensure that you use plenty of images as they promote more engagement.
More and more people are purchasing through social media, therefore ensuring that your shop (if applicable) is updated daily, and items are tagged regularly in posts.
- Online Marketing
Ensure your online presence is festive looking. Use this in conjunction with your social media marketing strategy. Update your blogs regularly, gift guides are very popular at this time of year. Also use your email marketing database. Email your current customers with special offers, discount codes, exclusive access to “limited edition” or new items before they are placed on general release.
- Consider previous years information
Although times are a little unpredictable at the moment, it is always beneficial to look at your previous year’s performance to help guide you. Look at what worked and what did not. What marketing strategies and posts drove the most purchasing traffic, what items flew off the shelves and what items ended up in the bargain area? Considering these factors will allow you to better plan for this year.
- Monitor Your Cash Flow
Work out the status of your business accounts. Get an overview of what your regular cash flow cycle looks like and use this information to make the important decisions for the Christmas period as well as the upcoming year.
If you are looking for secure funding for your business, contact Funding Track today. Our experts can help your business raise the funding that you need.
E. bryony.morse@fundingtrack.com
T. 020 3857 3030
