Festive shopping rush: How to maximise your business revenue
The festive seasons are coming soon and here’s how your business can make bumper sales!
India is home to many festivals and it is the perfect time to offer irresistible discounts and limited-time festive deals to your customers. With the rise of e-commerce in India, customers await these holiday deals but they choose only the best ones.
This is why companies need to be prepared for this period to maximise sales. In this article, we will go through a few effective strategies that businesses can use to fuel their revenue in this year's festive season.
Holiday season: An arrow that doesn't miss the target
Holidays such as Diwali, Eid, Christmas and New Year are celebrated all over the world. These are days when people tend to purchase new things or products. In other words, the festive season is guaranteed to bring bumper sales to businesses.
However, to make the most of these crucial periods, it is crucial for companies to follow effective strategies. So, here are some ways startups can benefit from the upcoming festive seasons.
How to maximise sales during festivals
Give attractive deals
Offering special festive deals to loyal or regular customers is a great way to boost sales during the holiday season. Whether it is gift vouchers or personalised deals, try to attract customers who have already purchased your products or services rather than persuading new customers.
Some good examples are:
- Combo offers
- Buy one get one free
- Flat rate discount
- New customer or loyal customer discount
Zero shipping charges
Believe it or not, shipping charges can be a deal breaker for the majority of online customers. Scrapping off this cost can significantly push your business in sales as users make big purchases that were previously too expensive due to shipping.
Leverage social media marketing
Social media is a powerful marketing tool that can spread the word out. To take advantage of the holiday season, businesses need to develop strategies according to their respective channels.
For example, Carousel Ads are quite effective on Instagram, so these formats or use cases can be amplified to share the details about your seasonal products, exclusive offers or festive discounts.
Smart email marketing
Email is a golden marketing channel for sharing personalised offers. In fact, data suggests that around 60% of e-commerce businesses are personalising emails for customers based on their past purchases.
So, utilise email marketing tools to group your customers into categories based on:
- Gender
- Geographic location
- Acquisition stage
This will help you curate creative and personalised content that will get more click rates and sales.
Provide bundle offers
A skincare kit along with perfume as a gift- why not sell them together at a lower price? This is a very alluring deal for customers who are buying items individually at a much higher rate. However, you will need to research which products pair the best and run bundle sales on your landing pages to get the attention of customers.
Launch limited-time sale events
Suprise online sale events for a limited time is a well-known marketing tactic to increase sales, especially in the festive season. For instance, you can offer discounts of up to 30% and increase the sale rate to 50% to grab the attention of customers.
The key is that the sale timer is visible on the website to help visitors know this deal is available for a specific period only.
Freebies and referral discounts
Giving away free items is one of the easiest ways to make customers buy from you. The logic is simple, everyone loves free products when shopping. It can be a giveaway contest or complimentary freebies that will appeal to a wide audience.
Another successful strategy that works quite well in holidays is referral discounts on certain products. It also helps businesses in terms of promotion as word of mouth spreads regarding such deals, all at very low costs.
The bottom line
The festive season brings feelings of joy and celebration to people. Businesses can turn these holidays into high-return opportunities by implementing relevant promotional and sale strategies. Altogether, such celebrations are the perfect time for startups to see a regular spike in their revenue.