5 Strategies to Improve Your Sales This January.15 Dec 2020
Does your business experience a post-December slump in sales after the typically manic holiday season? January is one of the most unprofitable times of year, that can leave many struggling to play catch up for months. But it doesn’t have to be this way! With careful marketing and planning, you can reduce this seasonal downturn nuisance.
Here are the various strategies to improve sales over a usually low-income period:
Take advantage of your recent holiday season customers
Use the existing customer base you have collected over recent months to create a more targeted marketing approach in early January. Ads and personalised emails to customers who visited your site -but didn’t make it to purchasing anything- are a great way to regain visibility to potential customers. Keeping your brand at the forefront of their minds will encourage them to choose to spend their cash with you, rather than your competitors.
Provide gift voucher offers
As gift cards and vouchers are a popular choice over Christmas, why not offer a discount on your existing ones? By offering discounted vouchers that are time sensitive (use-by March, for example), you can entice those looking for bargains after their big Christmas spend, whilst at the same time gaining that extra revenue in the slower quarter of the year.
Reward loyal customers
It is always important (especially with the year we have had) to reward customers that have stuck by your business over time. Why not send a direct mail campaign to your most loyal customers, gifting them with a voucher to say thank you? Alternatively, you can send out targeted emails with a discount code off their next order to show your appreciation. What’s more, they will be more likely to recommend your brand to others!
New Year’s resolutions
What are the most common new year’s resolutions? Self-care, relaxation, health, experiences, spending time with loved ones are just a few. Can you take advantage of this in your business? Perhaps you are a retail clothing store that sells sports gear, or a gym offering health and nutritional advice? Discount these certain services or products to entice the customer to buy from you now, rather than later. Ensure to use emotive language when advertising these, to reconcile with the customers’ current hopes and desires.
Reduce left over stock
January is the time of year everybody is a bit strapped for cash. Why not sell of your old left-over stock at a reduced price? This will attract the bargain hunters, whilst selling of dead stock. Moreover, why not offer a higher discount when customers buy more things? You could even offer freebies along with buying the older stock, to ensure it all disappears. Remember, it’s not a race to the bottom! Be strategic with your discount prices, to ensure protection of margins. You could try by starting off the January sales at 20% discount on selected products, then increase incrementally as the sale progresses.
Don’t let your business get left behind this January. Follow the techniques of successful brands who understand that they must start planning for the near year sales early, and take matters into their own hands to engage new and repeat customers.
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