It’s officially that time of the year! Business owners look forward to this time of the year more than any other time . . . and do you know why? It’s typically because a business will make anywhere from 40-60% of their yearly sales during the holiday season . . . especially if you’re a product-based business.
This means that now more than ever is the time to make sure you have everything running on all cylinders to ensure that you create the most sales and the biggest profits for your business that you can.
Today, I want to give you three key things you can do to increase your sales over the holidays and ring in the new year with some extra profit for your business going into 2023!
Make Sure Your Sales Are Irresistible
There’s no getting around it: during the holiday season people expect things to be on sale, and they expect to get a great sale at that! 10% off and 20% off simply aren’t going to cut it because your competitors are most likely running much better sales than this . . . so what can you do?
The first thing you can do is do something like 30-50% off if your cost and profit margins will allow it. Yes, you may be losing out on some profits initially, but the value of a lifetime customer is so high that taking the hit the first time can pay HUGE dividends down the road for your business.
The second thing you can do is a gift with the purchase. If you have a lot of small-ticket items, you can include this as a free gift if people spend more than a certain amount ($50 for instance). If the item is something people want, this can entice them to spend more in order for them to receive that free item as a gift.
However you decide to go about it, you want to make sure that your sales are on par with your other competitors and the industry as a whole, because people are expecting deals, especially around the holidays.
Launch An Exlcusive Holiday Product
Nothing gets people to buy a product or service more than if they know that it’s a limited-time offer or a product that’s only going to be around for a certain period of time. The FOMO people experience can help launch your holiday sales because of this.
The best way you can do this is to think about your top-selling products/services, then think about what would be an easy product/service to launch that would compliment these products.
The reason you want to choose your best sellers is to give yourself the best chance at selling these products while they last. Another thing that you can do is if you end up having extra of these products, you can then use them as a gift with purchase, like we talked about in the first point.
People love exclusive products because it makes them feel like they’re getting something unique, something that they know others won’t have, so really think about what your audience has asked your for or could use, then think about launching it as an exclusive product.
Run A Referral Program
DId you know that the best way for you to get new audience members, leads, and sales for your business is word of mouth? You saying how great your brand and products are is one thing, but someone’s friend who they trust saying the same thing carries so much more weight and will influence people so much more.
Referral programs are great because not only do you incentivize the person buying a product for the first time, but you also incentive the person that is referring new people to your brand and products.
For example, you can offer 20% off for first-time buyers as well as $10 off a purchase for the person that is referring your products and services to other people. It’s the definition of a win-win-win, you gain new audience members and sales, the existing customer gets a nice discount for their referral, and your new audience member gets a great deal on a product they’re sure to like because a trusted friend recommended it!
Conclusion
The main things to remember during the holidays are to have deals that people can’t resist, make sure your shipping times are quick and efficient, and make sure that you follow up every sale with legendary customer service!
I can’t tell you how many times already this holiday season I’ve had delayed shipping and even packages that have arrived witht the complete wrong item inside. These are deal breakers for customers, especially around the holidays, because I can tell you for sure that I won’t be shopping at these places anymore.
So make sure you do these things, and watch your sales skyrocket during this holiday season!