5 Ways To Drive Sales After The Holiday Season
For many businesses, the “Holiday Hangover” is a real thing. After the presents and eggnog come to an end the post-holiday sales draught begins. It is officially the “most wonderful time of the year” no more, as businesses are assailed by returned items, lost/unused gift cards, and a universal tightening of wallets, leading to lacklustre conversion rates and huge revenue hits.
But does the holiday buying boom need to end in a bust? Thankfully, the answer is no. Yes, you may experience a slump. However, by putting the following five practices in place, you’ll be able to avoid those post-holiday revenue blues and get back into sales mode. Start the new year the right way with a burst of sales, and you be able to see and feel the impact the rest of the year!
1. Start A New Sale
Thought you were done with discounts, coupons, free shipping, promos, and rewards? Think again. Shoppers are attracted to sales regardless of what time of the year it is, and while you might be tired of the holiday sales rush, your customers won’t be! Continue to provide discounts and deals after the holiday season to keep your old customers and generate new ones. A new sales program can be a great way to attract those holiday gift card dollars or turn product returns into product exchanges.
A few sales ideas include:
Incentivize your loyalty program: Provide a perk to customers and reward them for joining your loyalty program with a prepaid card or product. This can make a huge difference with customer retention, especially for first-time buyers.
Freebies: This one should be obvious. Everyone loves a free gift!
Discounts on bulk buys: For online companies, offer free shipping with purchases over a certain minimum amount. For brick and mortar stores, a discount can be given on the overall purchase.
Winter clearance: Get rid of your winter inventory before the spring and summer months by labelling it as clearance. People are drawn to large signs such as “CLEARANCE” and “SALE.”
2. Take Advantage Of People’s New Year’s Resolutions
Right up until the clock strikes midnight on December 31, people are busy eating large, rich meals, drinking too much, spending money on gifts, putting on weight, and generally overindulging. On January 1, however, a lot of those people are completely changed individuals, exhibiting self control, new goals, and an entirely new outlook on life. While this newfound exuberance and steely resolve probably won’t last through the year, the winter months are a great time to market products or services to those customers who are focused on specific new year’s resolutions. Cater to these newfound lifestyles. People aren’t going to buy junk food, gaudy clothes, or expensive toys. But they will buy items that promise to enhance their New Year’s resolutions.
A few ideas include:
Products that enhance health: As you might expect, the products that see the biggest post-holiday sales boosts are things like gym memberships, health supplements, diet plans, and exercise equipment. If you get involved with or sell these kinds of items in January, be prepared for some serious sales!
Products that provide organization and productivity: This is a pretty huge category, so the opportunities are virtually endless! People are looking for ways to optimize, organize, clean up, and streamline their lives. Appeal to them with everything from stress management/self-help books and journals to iPads and tax preparation software.
Products that promote safety and protection: Again, this is a big category, but with health, organization, and lifestyle changes comes a need for protection. Items such as a phone case, backpack, anti-virus program, or home security will resonate with customers.
3. Follow Up and Retarget Holiday Shoppers
After the holiday season, people are often worn down. But they’re still customers, and they’re still listening to you. With other businesses feeling the post-holiday hangover, this is your time to make some real noise that will be heard. Launch a remarketing campaign to target those who have shown interest in your company.
It may seem like a no-brainer, but return visitors generate revenue. Follow up with anyone who made purchases with you or visited your website at some point throughout the holidays. Send out an automated email asking about their experience. Offer them an incentive to make a purchase. A few ways to bring consumers back to your website include offering a gift card, discounts, free shipping, or deal-of-the-day sales. If a company is not following up with the customer after a purchase they are missing out on a golden opportunity to build a long-lasting relationship with the customer.
According to the statistics, remarketing has incredible power:
– Remarketing can lead to 147% higher conversion rates
– The average CTR for retargeted ads is ten times that of display ads
– Visitors who see retargeted ads are 70% more likely to convert on your site
– With retargeting, shopping cart completion goes up by 26%
Need some ideas? Check out 21 Different Ways To Improve Customer Loyalty.
4. Reward Loyal Customers
Rewarding valued customers for their seasonal shopping with special sales and innovative/personalized offers through your loyalty program is the easiest and most straightforward way to improve your post-holiday sales. Offer coupons to customers, or even to their family or friends. Research has shown that a well-executed consumer rebate program incentivizes consumers, brings in sales, increases brand awareness, pushes certain products, and secures recurring and loyal customers.
5. Start a New Social Media Campaign
The new year is the perfect time to introduce new branding or a new social media style/presence. Your customers are looking for something fresh, so launch a new campaign that engages your viewers and leads to a boost in sales throughout the year. Get your customers in on the action by hosting a social media contest with prizes, coupons, etc. Typically, consumers could also use a bit of fun after a busy and mentally and physically draining season, so make sure it’s fun!
A few ideas include:
– Funny holiday stories
– New Year’s Resolutions and how the company can help
– Best/worst holiday gift
– Goals / dreams for 2017