How your Business can make the most of Holiday Spending

As the holiday season approaches, it’s time to plan promotions for Halloween, Black Friday, and Christmas. Strategic planning beforehand can significantly boost revenue during the high-spending months. Here are some steps to prepare your business:

1. Craft a marketing plan to navigate the crowded market for holiday spending

Having a solid plan in place provides a roadmap, guiding your business through the crowded marketplace of the holiday spending season. This can help to ensure your promotions resonate with your target audience, and ultimately, help to increase sales.

2. Set measurable goals for holiday spending sales increase or new customer acquisition

Outline clear, measurable goals such as trying to increase sales by a certain percentage or acquiring a specific number of new customers.

3. Research your audience’s preferences and shopping habits

To cater to your customers’ preferences effectively, understand their favourite products, their spending habits during this season and their preferred shopping channels. This in turn will help shape your promotional strategies. Consider conducting surveys or polls via social media to get insights into what your customers are looking for Black Friday and Christmas. Design unique deals or packages that will help to attract customers.

4. Tailor unique deals to attract customers

Determine where your target audience spends their time and focus your efforts there. This could be social media, email marketing, in-store promotions or a combination of these.

5. Select appropriate marketing channels for outreach

Determine how much you’re willing to spend on your promotional campaign. This should include costs for advertising and creating promotional materials.

6. Allocate a budget for promotional activities

Design unique deals or packages that will help to attract customers. This could range from discounts to buy-one-get-one-free offers. When creating offers, consider what will best incentivise customers, while also helping to boost your sales.

7. Ensure ample stock to meet heavy holiday spending demand

Make sure you have enough stock to meet the anticipated demand. Make sure your inventory levels are adequate and products are distributed evenly across all stores or delivery locations.

8. Utilise email and social media for exclusive offers and reminders

Send reminders and exclusive offers to your email subscribers. Email campaigns can be used to drive sales and increase customer loyalty. Create an email marketing calendar that outlines when you’ll send emails and the content you’ll include and set up automated mailing lists.

9. Review insurance coverage for potential claimable incidents

Busy business is always a plus, but it can also mean increased risk. Make sure your public liability and other insurances are up to date just in case there is a claimable incident. Speak with a broker today to check whether you have the right cover for your specific business needs.

10. Collaborate with local businesses or influencers for wider exposure

Consider partnering with other local businesses for cross-promotions. This can be a great way to reach potential customers and maximise your outreach. Try partnering with other small businesses or influencers to gain access to their audience.