For most small businesses, holidays are a great time to provide the best service and sell your most popular products. Whether you run an e-commerce store or a B2B service platform, you’ll find eager customers around major holidays. The only problem: a ‘post-holiday sales slump’ halting your sales momentum in its tracks.
Facing a slump after holiday promotions is common across various industries. Wth the right strategy, you can use this period to boost sales in the long term. To help you do that, we’ve prepared a list of 13 ways your small business can overcome the sales slump and improve your sales strategy:
- Create a long-term sales plan
- Pivot to a post-holiday sale
- Foster customer loyalty
- Revamp your marketing
- Encourage returns
- Refresh your inventory
- Launch a new service or product
- Research the field
- Stay engaged with your customers
- Retarget holiday customers
- Improve your mobile presence
- Expand your audience
- Invest in your own growth
1. Create a long-term sales plan
Instead of planning your strategy by the month or quarter, lay out a long-term business plan so you can plan around expected slumps and distribute resources accordingly. A good long-term plan should account for an entire year or more. By mapping out a long-term plan, you can focus on your objectives and more easily iterate on your sales strategy.
Most entrepreneurs are familiar with writing a business plan because many startups use them to find funding. When writing one for the post-holiday slump, try to keep your main goal of improving sales in mind. Whether your business relies on tourism or a seasonal product, long-term planning will let you capitalize on every opportunity.
When writing your plan, be sure to include:
- How your business plan achieves a specific goal
- How it caters to customers’ pain points and objectives
- Information on what products and services you intend to push
- Information about your industry
- Projected costs and earning related to your plan