Start the New Year the Way You Mean to Go On
Many businesses see a sales dip in January after the festive season. How can you start the new year on a high?
Christmas is an expensive time for everyone, and with the added factor of many people receiving their December salaries up to a week early, January can be a time for belt-tightening.
This is felt throughout the business community, and after the high of December, it can feel as if a disappointing January negates all that hard work everyone put in during the run up to the festive season.
Here, we take a look at three ways you can get January off to a flying start, and one that you can build on throughout the year, to make 2018 your biggest success yet!
Have a promotion
Everyone likes a bargain, and the January sales have become an institution throughout the UK. Ostensibly to sell off everything that is left from the Christmas stock, in reality, the aim is to keep people spending into January.
You don’t need to have a full-on sale, but some special January offers, well publicised with promo labels, posters and a good publicity campaign can do wonders to increase sales and keep things ticking over.
It doesn’t have to be a simple case of cutting prices, although that is always popular with the customers. You could offer buy one get one free deals, or perhaps a free gift with purchases over a certain amount. Not only does that get people digging deeper into their wallets, it also provides a perfect way to shift those things that you overstocked on in the run up to Christmas!
Sharpen your systems
Sometimes, you have to accept that buyers just aren’t buying in a particular month. That doesn’t mean you are powerless, just that you need to look at things from another angle. Improving internal systems will reduce costs, increase efficiency and have a direct impact on profitability.
The new year is a great time to have an objective review of your operation from cradle to grave, perform a full software audit and make some firm plans for improvements you can make over the year ahead.
Consider free shipping
If some or all of your business is conducted through ecommerce, then shipping costs are never far from your mind – or that of your buyer. Free shipping is ubiquitous in ecommerce, and according to one survey is the most popular method among retailers for boosting business, being favoured by almost 40 percent.
If it is so popular, it must be a big hit with customers, right? Well, sort of. The potential issue with free shipping is that it is only really attractive to buyers when they are at the purchase stage of the buying process. In other words, if customers are already in the mood to buy a pair of shoes, a tin of beans or a laptop, then free shipping will encourage them to complete the sale, where an additional charge might cause them to back out. But it is not necessarily a big pull for customers who are at an earlier stage.
So while free shipping is a great marketing tool, it might be a better one to hold back for later in the year.