There are many paths a prospect or lead will take on their journey. To effectively manage these leads, B2B companies must have a set of best practices. The year-end holiday is coming. While most people think about their Christmas shopping and New Year's Eve plans, salespeople worry about hitting their yearly sales targets. But increasing holiday sales isn't something you can do overnight. You need a thorough and solid strategy to do that.
Check out our year-end holiday sales tips below to help you sail through the holiday season stress-free, rack up sales and finish the year strong!
1. Start your preparation now
While July to September is ideal for businesses to start preparing for holiday sales, it's certainly not too late to start now. Equipped with the tips in this post, you still have plenty of time to create a campaign or program to increase your revenue.
Here's what to consider when preparing your business for the year-end holiday:
You might need to stock up on particularly popular items or bring new items onboard for gift-wrapping. Therefore, you need to figure out which items and how many of them you should prepare. Next, communicate with your supplier to ensure the availability of these items. Utilize an inventory management system to identify your top-rated items and forecast your inventory needs.
Figure out what channels will be most effective in communicating with your audience and the overall message you want your holiday promotions to convey. Choosing the right marketing channels to promote your holiday campaign will help you ensure the time, money, and energy spent is all worth it.
You need to check if you have an advertising budget that you can use. You also need to make sure if you need to cut back on some tactics from last year. And, if you want to offer gifts, know how much you will be able to afford for that.
Try to build an audience before the year-end holiday. You can use several media for this. For example, you can collect email subscribers, social media followers, or members for your group or social media space.
The idea is to attract an audience who will know about your sales right away by post, email, etc. If they get notified, they will visit your website, shop there, and increase holiday sales at your store.
2. Decorate your website
Your website is your store. You need to give it a festive look and feel so your customers know you're ready for the year-end holiday and they can get some great deals there.
Another way is to create separate landing pages for your product and service offerings. Not only is a campaign-specific landing page a must (for any time of year), but it can also help to give your landing page a holiday theme or flare.
In addition, you need to make your website navigation and checkout process easy for users. Remember, many users shop from mobile devices, and according to reports, if your mobile website has complicated navigation, 61% of users will not return to it. And 40% will visit a competitor's site instead.
3. Try Cross-Selling
The months leading up to the year-end holiday are a great time to suggest items that match the products or services your customers have already purchased.
Maybe a customer bought a necklace last year. This year, you can suggest to them a set of earrings or bracelets to match the necklace. Or, if you sell skincare products, you can cross-sell day and night cream sets.
You can always rely on CRM software to unlock hidden insights from your customer’s purchase history. From there, you can figure out which products you can cross-sell as well as create personalized campaigns for your customers.
4. Personalize your emails
Email marketing is one of the best channels for nurturing prospects into customers and retaining customers. If you've been building your email list throughout the year, it can be an asset during your holiday email marketing campaign.
Personalizing your email campaigns can be a great way to make your customers buy your products or services. For example, if a customer keeps making the same order, customize the email with suggestions for the item you think they want using their order history in your CRM system.
Email segmentation based on your customer history or personal details like their date of birth, if you know one, can also be a powerful tool. This approach reminds your customers that you genuinely value their loyalty. It works well for holiday marketing campaigns but is also a great strategy any time of the day.
5. Run year-end holiday limited sales
Running online popup sales is another way to increase your sales during holiday shopping time. With this method, you increase your discount or offer an exclusive offer for only a few hours by increasing your 45% discount to 50% off in just one hour. You can even do this 2-3 times a day and several times during the sale.
In other words, this method is called a sense of urgency. Creating a sense of urgency encourages fear of loss (FOMO) among users. It helps you convert customers who are thinking of buying the product later.
Here's how you can use a sense of urgency:
-Add countdown timers for your sales, discounts, or out of stock products
-Offer reward points to customers if they buy the product under the deadline
-Show the number of products left in stock
-Notify customers via email, SMS, or social media about out-of-stock products, end of sales, etc.
6. Leverage social media ads
Use social media ads, especially Facebook and Instagram ads, to boost your reach and revenue during the holiday season. Follow these tips to run effective Facebook ads:
Install the Facebook Pixel on your website now so that you can retarget visitors over the holidays.
Start creating your promotional collateral now, such as banners and physical signs, promotional videos, and ads copies. You may even want to start testing your ads copies so you can ensure that you're running your highest-performing ads.
Create and submit your Facebook ads a few days to a week in advance, as Facebook may need more time to review & approve ads as we approach the holidays.
Instagram also has great potential to boost your sales revenue during the holiday season. Instagram users are highly engaged, and the platform has been shown to generate more engagement than any other social media platform.
Here are some tips for running successful Instagram ads:
Make sure your Instagram account is a business account. Business accounts come with analytics that will help you make the right decisions.
Find influencers with the same target audience to collaborate with. They will help you to get more exposure and sales during the sale.
Share customer success stories, positive reviews, and pictures of happy customers. The trust factor plays an important role in the buying journey.
7. Run cart abandonment campaigns
According to Statista, as of March 2020, 88% of online shopping orders were abandoned globally. Cart abandonment can be antagonistic to your online store. And if you want to increase holiday sales, you have to eliminate it.
-Use email automation tools to create cart abandonment email campaigns
-Remind users at certain time intervals to complete their purchases
-You can also remind them via push notifications
-Use indicators that generate FOMO (as we previously mentioned above)
-Show your website’s visitors retargeting ads to bring them back
8. Create gift bundles
If you have many products that complement each other well, combining them to make a gift set is a good idea. This increases your average order value, as multiple items are purchased in one transaction, not just one.
Make sure that your inventory management system supports product bundling to save you time and automatically sync your stock levels during the busiest times of the year.