‘Tis the reason, which means it’s a critical time for many small businesses and retailers. Even when a small business reports that they aren’t a business that would necessarily benefit from holiday sales, this time of year is still important. A single holiday season can bring 20-40% of annual sales for just about any business, which means there’s a ton of pressure on you and your company to perform when the treats start to go up and the turkeys start roasting. Here are three mistakes that you should avoid during this time of year.
No Marketing Plan
Just because it’s a good time of the year doesn’t mean that customers are going to come flocking to your door. Why do you think they should come to the door in the first place? What makes them choose you during the holidays? Make sure you nail down a solid marketing plan before the holidays are upon you (they come fast).
Drastically Cutting Your Prices
Because of Black Friday and Cyber Monday, sometimes companies think the only way to make a sale is to cut their prices so harshly that people will come to their store (or their website) to buy something they want or need. For some reason, 20% off of an item has become “the full price.” In all honesty, a customer will pay more for the right gift, so focus on having the right items or services up for grabs before you focus on harsh discounts that dig into your profits.
Ignoring Your Employees’ Needs
Just because your employees are willing to work overtime for several weeks during December doesn’t mean you can ignore their need for time off during the holidays. Employees have their own personal needs for time off during this time of the year, and it’s important you respect that. Make sure that any black-out days are posted months ahead of time, if possible, and that you allow every employee to make their case before denying their request off for time.