4 Best Practice Business Strategies For The Holidays
As we discussed in our last article, the holidays will look a lot different this year. For businesses hoping to capitalize on the new opportunities that this year’s season will bring, there is no time like the present. While the public waits for a vaccine to be safely released and the pandemic to be brought under control, we all continue facing challenges that we’ll have to navigate, but with challenges come a list of opportunities for businesses.
Spending predictions are down a bit. People are staying at home and shopping less. In this article, we’ll be discussing 4 best practice strategies that could give your business a boost this holiday season. But before we begin, there is one theme that you should keep at the top of your mind while planning your sales strategy: convenience for the customer. All of the indicators for success seem to be pointing towards a central idea around helping your patrons get what they need as easily as possible.
You may want to position your business as an authority who can deliver a seamless buying experience with a solid guarantee. Think about a day in the life of your most valuable customer and challenge yourself to be in front of them in a value-adding way as many times as possible throughout that day.
Here are 5 examples of best practice business strategies to consider for this holiday season.
Give A Super Strong Value Offer And A Deal.
With people planning to spend less and save more this year, there is a great opportunity for businesses to give their customers a chance at deals that they just can’t refuse. Like we mentioned in our first article, the holidays won’t be shut down by this global challenge we’re facing. They will just look a bit different this year. If your business is planning to capitalize on the consumer spending in your industry, think about creating the best deals you can provide to your potential customers and make those deals known.
Think again about the idea of convenience. We know people will likely be spending less this year. Make the decision to buy from you easily for people looking at the goods and services your business provides. If you have a great product at a better price than your potential competitors, then your audience could be persuaded in your direction. Try to make an offer that stands out and adds genuine value to your client’s life. If you show value and mark that value at a great price, you’ve put yourself in an advantageous position to win the customer’s business.
Show Up When Folks Are Browsing.
You could likely benefit from maximizing your ad budget to reach as many people as possible. Are you planning to send a mailer? Maybe you are going to boost your digital ads? Possibly, you’ll want to use social media to reach your targeted customers? Thinking about running ads on YouTube or television? Look into your best opportunities to receive the most effective reach for your money and use your deals as a way to bring people to your website, give you a call, set an appointment, or place an order. You may end up using a combination of different advertising strategies to reach the most valuable audience for your business. This is where thinking about ‘a day in the life’ of your customer can come in the handiest. How is your customer interacting with media and advertising? Do they read the paper in the morning? Check email? What sorts of news stations do they watch or listen to? Do they prefer traditional broadcast television, or have they cut the cord and spend most of their screen time streaming? Figure out when and how your customers interact with media and try to be there when they do. Again, think about being a consistent presence with a convenient way to purchase your offer.
Capitalize On FOMO In A Small Window Of Time.
It appears that folks plan to spend less time shopping this year as well. At first glance, this would seem to be an issue with some cause for concern. People will not be browsing as long and may not find your business amidst all of the other options out there. However, because more people will be shopping digitally, they will have the freedom to shop when they like. The window may be smaller, but the time spent shopping will happen all the way up until the last few days before Christmas. If you have been working on your value offer, understand a day in the life of your customer, and you’ve optimized your marketing presence, then you stand a great chance of capitalizing on sales during the closing hours of the holiday rush.
Less In-Store. More Outside the Box Online Opportunities.
It seems that every business has become a bit obsessed with Black Friday and Cyber Monday. They have become the go-to sales staples of many industries, and entire campaigns are built on how to maximize sales on those days. Consumers are served to exhaustion with ads and emails and texts and phone calls, asking them to cash in on the savings. If there ever was a time when the offers for products and services of a small to medium-sized business could be buried, it’s during the advertising rush right after Thanksgiving.
Proactively, many of the savviest companies are now extending their best offers to reach through the entire month of December. With shoppers directing their attention online, companies who take advantage of concepts like a month’s long “Cyber Monday” could benefit greatly. Customers are not forced into spending all of their Holiday savings on a single day. They have control over when it’s the best time for them to purchase. Many companies are now looking to create New Year’s Holiday Sales Events, a strategy the automobile industry is quite versed on. You may want to think about ways that you can continue to stand out through the month of December and brainstorm ways to make New Year’s offers that appeal to your customers.
Turning The Post Holiday Blues Into Opportunity
With all of the challenges businesses have faced this year, we know that not everyone will have enough holiday success to sustain them through the upcoming months. A great way to give yourself a chance at success is to make the decision and fulfillment process easy for your customers.
If your business doesn’t see the type of results it needs to keep going, Auction Masters has created a way for you to see as much success as possible when liquidating your business equipment and inventory. Conversely, you may have decided to merge with another company to take on the future with a partner.
Here at Auction Masters, we specialize in business appraisals and helping companies of all shapes and sizes receive the most value possible when they decide to sell their assets. We’ve created a 2 Step Signature Process that we would be happy to walk you through any time. Here is a breakdown below with our contact information.
The Auction Masters 2 Step Signature Process
Step 1 – The Appraisal
With over 40 years of industry experience, our team has gained a deep knowledge of asset values and markets, allowing us to successfully serve your business. Let us show you how we’ve streamlined the appraisal. Give us a call and schedule a time to make a walkthrough of your facility! You can book your appraisal below.
Step 2 – The Sales Process
We make the process of selling equipment easy, working with our customers to secure the prices that are best for them. Our auctions are fast and effective. The team at Auction Masters takes great pride in working to pair every auction with targeted audiences so sellers reach the right customers. Rest assured, we work to find the most valuable buyers available for the purchase of your equipment. Contact us today and get your used equipment auction started in Minneapolis and surrounding areas.
Simply contact us at the phone number listed below to learn how we can help you turn your equipment into cash or prepare for your merger and your next business opportunity.