3 Tips for Getting your Small Business Ready for Fall
The beginning of the school year has begun, and Labor day come and gone. While the last waves of Summer heat are passing by, the Fall is just around the corner and small business owners all across the country should be preparing both mentally and strategically in order to make the most of the sales potential that comes along with the season. With major shopping days coming along fueled by holidays including Halloween, Thanksgiving and the annual bonanza of Black Friday, businesses owners shouldn’t allow these busy days to simply sneak up on them. Here are three jumping off points that business owners can use as fuel to start brainstorming how they can make this year the most profitable one yet.
Review market data, segment deeper and evaluate your choices of advertising platforms. The ability of a small business to accurately pinpoint and reach out to its target market makes the difference between a greatly successful marketing campaign and one that loses money or attracts poor quality leads. Before it comes time to invest in marketing, business owners should be sure that they took the time and effort to accurately identify who their customers are and where the best venues are to reach out to them. Reviewing historical sales data as well as reaching out to your current customers via email lists and polls can paint a better picture of who is most interested in your business this year, and what segments of your total market are going to be driving your numbers.
Take stock of your inventory and employees in order to determine the volume you can handle. When you have painted a strong picture of your market and gone on to estimate your sales, you can then make an assessment of how prepared your business is to meet demand. Making plans in advance in terms of hiring and procuring inventory can make things go a lot more smoothly in the moment. Reach out to your suppliers in advance, and speak honestly with your managers and employees in order to gauge what they think they can handle and whether or not you are going to need to hire some new employees or make plans for taking on temporary staff members to deal with holiday rush.
Plan seasonal promotions and your marketing strategy for getting the word out. A seasonal promotion can be a great way to complement the sales potential of your business’s busy season. You may already have an annual promotion in mind that you can begin to set up for, or you may be interested in trying one for the first time. Be sure to allow enough time for buzz to build through social media and word of mouth, and get involved with other local seasonal events to magnify the reach and engagement of your own efforts.
Photo Credit to Kam Abbott on Flickr