For many small businesses, particularly those in the retail sector, the lead up to Christmas is one of the most profitable times of the year.
However, the time immediately after Christmas can be just as lucrative, but there are certain processes that you need to abide by, including hosting a January sale and these three points explain how you can prepare your small business for a sale in January.
1. Understand that you’re customers are expecting a discount
One of the main problems that a lot of small businesses face when it comes to the January sales is that they don’t realise the importance of the sales and just how much of an expectation there is for businesses to actually have a sale.
Almost regardless of the industry that you operate in, your customers will be expecting you to offer at least some of your products or services at a reduced rate.
You don’t have to deduct a substantial amount of money off your products or services, but you need to make sure that you do offer some type of discount – you might not think it makes that much difference, but you’d be surprised at how many customers will be disappointed if they can’t get a reduced price product or service from you in January.
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2. Make your sale as obvious as possible
Just because you’ve put a label on some of your items that state a reduced price or you’ve told a few people that you’ve got a sale on in January isn’t going to be sufficient – with so many sales taking place, you need to make sure that you’re company’s is just as prominent and stands out just as much as everyone else’s.
3. Don’t forget to upsell
The technique of upselling is something we’ve talked about a lot in recent weeks, but it’s simply because it can be so effective before, during and immediately after the Christmas period.
And it’s easy to understand why.
A customer enters your store, wanting to spend $100 on a product. The product is reduced to $75, so they already feel satisfied. However, when they reach the register and discover that they can get another product they could use for $50, in their mind it’s only cost them $25, as they saved $25 on the first product.
Getting upselling right is a difficult process, but once you’ve mastered it, you’re almost guaranteed to see a noticeable increase in sales.
January can be a particularly slow month for businesses, but by hosting a January sale – and doing it right – you can be certain that you’re doing your utmost to increase sales and turnover after the busy Christmas period.