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Promotions for the Holiday Rush

11/8/2013 4:52:57 AM Posted by Erin Carrather

How are you going to get ahead this holiday season? In such a competitive playing field, I’m sure you struggle to come up with ways to increase sales, especially during the rush of the holiday season. In order to generate the best results, there are various methods you can utilize.

When you are out doing your holiday shopping, whether it’s in store or online, you notice that there are endless deals. Being able to offer your clients deals during the holiday season is important for a variety of reasons. First off, anything that will draw more business to you is worth your while. Second, creating brand awareness can be done through creating a reason for repeat business. To certain individuals, there is no need to purchase something unless there is a cost-benefit associated with it. Similarly, consumers will be more apt to purchase goods or services from you in the future if they have had a positive first experience. This is where holiday free shipping and/or percentage discounts come into play.

Offering your customers free shipping is the most common online holiday promotion. What better way to encourage spending than to say, “Buy these items and we’ll deliver them to you with no additional charge?” To drive up sales, you can offer free shipping if they meet a minimum purchase amount. Similarly, offering a percentage discount on either specific items or on an overall purchase amount is just as successful in increasing profitability. For example, a certain online clothing store may run a promotion one week where all sweaters are 25% off. The fact that this promotion is limited makes a consumer all the more interested in taking advantage of it, knowing it will end at some point. The tricky aspect comes into play when you need to figure out how to go about offering these promotions. The answer comes down to a dynamic business system to manage them all.

Without the proper tools and insight into how to generate the best results, you may be stuck in the red this holiday season. Having a business system that can support all of your inventory management needs is imperative when offering holiday promotions. But, what are the actual tangible benefits? A strong business system can be broken down into various tiers: benefits that can be measured in cost and time savings and benefits attributed directly to the implementation of the business system. Some of these benefits include, but are not limited to:

  • Reduction in costs
  • Reduction in waste
  • Better utilization of resources
  • Increased revenue & value
  • Increased visibility

With the benefits above, it’s clear that investing in a business system is something you must consider before the next holiday season. In order to have better visibility over the profits you achieve from whatever holiday promotions you offer, you need a system that can deliver the accurate results and reports to provide the necessary business insight. Because you want to achieve a competitive advantage, it is important that you act right now because it is so affordable and there are so many resources available to you. Contact Third Wave today to discuss more!