The holiday season is a critical time for all entrepreneurs. Entrepreneur Scott Crockett of Everest Business Funding explains that Black Friday may be a symbolic start to the holiday shopping season for consumers. Still, it’s an important calendar day for startup owners.
No matter what industry your business is in, there are things innovative entrepreneurs can do to get as much out of the holiday season as possible. Below are some tips on how to seize the season’s opportunities.
Offer Exclusive Discounts
Sales around Black Friday, Small Business Saturday, and Cyber Monday are commonplace in business. The problem today is that it has become expected that the market is oversaturated with sales. In other words, it’s hard to stand out from the crowd.
While Scott Crockett says you should refrain from foregoing these sales by any means, he also suggests offering exclusive discounts to your most loyal customers. Not only is this a great way to sell more over the holidays, but it’s also a nice way to thank those who help fuel your business.
In essence, you’ll be generating additional revenue for the company while also rewarding your most loyal customers.
Offer Gift Cards
Gift cards are a great way to generate future sales for your company. While businesses such as restaurants and retail stores may already have these on hand, other industries only sometimes offer them.
If your business falls into the latter category, consider launching a new holiday gift card/certificate program. People love giving gift cards during the holiday season, and it’s a great way to increase your customer base.
You could offer incentives to customers who buy a gift certificate from you, giving them a free $20 for every $100 in gift certificates they buy. This would ensure two future sales for you — while providing you with extra cash upfront before the actual purchase of goods or services was ever done.
Cross-selling is a great way to increase sales without doing a lot of extra work. In fact, much of the effort that goes into cross-selling revolves around marketing products or services that could be considered supplementary to others.
You can see many companies today doing this automatically on their e-commerce sites. When you add something to your cart, you might notice that a “you might also like” section is automatically populated based on what you selected. This is a way the companies are trying to cross-sell you additional products.
If you still need to do this, make sure you add it to your repertoire. It’s effective both online and in-person.
Create A Gift Guide
A creative marketing idea to sell more over the holidays is to create a gift guide. This can be a multi-page catalog, Scott Crockett says, or it can be as simple as an email newsletter highlighting some of the top products or services you offer that would make great gifts.
Sometimes, consumers need a little nudging in the right direction when thinking about what to buy for their loved ones. Creating a simple gift guide can help steer them toward your business.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. He is a seasoned professional with 20 years of experience in the finance industry. Mr. Crockett’s track record includes raising more than $250 million in capital and creating thousands of jobs. Scott has founded, built, and managed several finance companies in the consumer and commercial finance sectors.