For most service-based businesses and ecommerce stores, the holiday season is a good thing. With a definitive increase in sales, it’s easy to get caught up in your company’s success during this shopping-fueled time of year. However, after the dust settles into the new year and you’re buckling down for another calendar year of business, how can you keep the momentum of the holiday season going? It’s easier said than done, but the answer to that question is highly desired among owners of businesses small and large.
Cash Flow Solutions For Cash Flow Problems
No one said it would be easy to start and grow a small business, but take comfort in the fact that you have a connection with our small business lenders here at The Commercial Finance Group. With the help of our lending services like purchase order factoring, medical receivables financing and business loans for bad credit, you can take control of your company’s financial situation. Don’t let poor credit or a lack of working capital run you and your company down. Learn more about factoring receivables pros and cons and how we can help you as a small business owner by getting in touch with our Burbank working capital lenders.
Now, here are some effective ways to keep business going well into the new year.
Start Another Sale
We understand that you literally just offered all of the promotions, discounts, freebies, coupons and free shipping that you could afford, but in the interest keeping business flowing, you should get ready to do this all over again. This is because shoppers buy from you not because it’s the holiday season, but because of the discounts during the holiday season. By continuing to provide discounts well after the holiday season, you should be able to win some of your customers back for a second-round of shopping.
So, you might be tired of the same, but your customers aren’t. While it’s not necessary to provide quite the same level of sale, just having a sale in and of itself is powerful enough to get you back on track after the spike (and subsequent drop) in business.
Feedback And Assessment
Ask yourself this question: “What products were returned, and what was our customer’s complaint?” By looking into customer dissatisfaction and analyzing what may have gone wrong, you can use situations like these to improve your brand, business model, inter-company processes, and other aspects of your business. Not only does this help prevent bad customer experiences in the future, but you’re already planning ahead for a smooth holiday season the next time around.
Market In The Spirit Of The New Year
For most consumers, their mindset changes after New Year’s Eve. After a holiday season filled with delectable treats and inevitable weight gain, people are making resolutions to lose weight and improve other aspects of their life. Regardless if your customers are actually going to follow through with their resolutions or not, it’s a good idea to market your business toward this season of change. More often than not, here’s what consumers are willing to spend their money on in January:
• Products that provide organization and productivity
• Products that enhance and fortify health
• Products that facilitate cleanliness
• Products that promote safety and protection
So really, anything that can be logically tied to New Year’s resolutions is fair game for your marketing strategy.
Release A New Product
If your business has a new product or service in the works, waiting to release it until after things have started to slow is a great time to do so. While many marketers and ecommerce sites focus on analyzing sales or restocking inventory, releasing a new product can really help your business stand out from your competition. While customers are in this “new” mindset at the turn of the New Year, giving them a new product to think about and even dabble with is a great way to boost business.
Mentally speaking, the building blocks are in place. Consumers desire new things, and so taking advantage of this new-saturated mentality could very well be a smart move for your business. Of course, make sure that your company is actually ready to roll out a new product or service. The last thing that you want to do is to release something new just for the sake of releasing anything, only to have support issues or immediate complaints from customers.
Don’t Go Quiet
While other retailers and businesses around the country are tired – no, exhausted – from the frenzy of holiday-fueled business, it pays to be the loudest voice in your industry after you’ve rung in the New Year. Like your competition, your customers are also probably exhausted, but here’s the thing: they’re also listening. From email marketing blasts to social media posts and other forms of customer engagement, take advantage of this opportunity to rise above your competition after the holiday season.
Our Small Business Factoring Experts Wish You Safe And Happy Holidays This Year
Other business factoring companies might not bid you a safe and happy holiday season, but at The Commercial Finance Group, that’s the least we can do for our valued clients. If the frenzy of the holiday season is already leaving you with cash flow problems or you need business loans for bad credit, we can help you and your business thrive through these often-difficult times. From purchase order factoring to medical receivables financing and so much more, learn more about how our Burbank lenders fix cash flow problems by contacting CFG today.
