MERRY CHRISTMAS AND HAPPY NEW YEAR!
WHAT’S YOUR RETAIL’S RESOLUTION?
On this festive last month of the year, we wish you all a Merry Xmas and Happy New Year.
We wish your business had a good year so let’s get prepared ahead for the Next One.
We know how festive this last month is but what worst can it be
when you enter the new Month and you have tones of planning to do.
It can really ruin your beginning of the year.
So, let’s avoid the bad mood and start with healthy plans for your business’s year ahead.
We have put together a list to check that ensure your business will run smoothly in the New Year.
- Have an Online Presence
- Get a simple, yet effective, Social Campaign Strategy
- A Reward Scheme for your Customers
- A List of your Essentials to keep constant stock in
- Support your community
- Forecast upcoming trends for the new seasons
- Build a strategy around Clearance & Offers
- Specify the metrics to analyse your business
1. Have an Online Presence
By definition, an Online Presence is anywhere from an e-commerce to displaying your shop location on Google Search.
It means you give your customers, or random visitors, to know you exist and how to reach you.
With this digital era, it has become a necessary tool to use regardless of what you sell and to whom.
If you already have an Online Presence, such as a website or social media accounts, then check if any updates are due.
Check if you might need to change your banners or adjust some promotions.
You might want to decide, before the new year, if a re design is necessary. Maybe a less cluttered page or a classier look?
If you don’t have any online presence, then make sure you get one.
You can choose to have a fixed page that talks about the business, what you sell and where to find you or an e-commerce website.
Or choose with the free tools available to you, such as Social Media and Google My Business Tool (location of your shop on Google Search).
The value you could get from this feature is gigantic.
Maybe you won’t feel it straight away but starting to spread your name across the internet will eventually reach out new customers in your area (or online).
With so many free guides on the internet, you’ll be able to set up your online presence in no time.
Even better, Social Media make it idiot-proof to open an account and start spreading your news online.
2. Get a simple, yet effective, Social Campaign Strategy
Getting ahead with the New Year means a lot of work to repeat: promoting by the seasons, re-thinking offers for the quieter months, dealing with customers’ feedback, etc.
Your best bet is to define a Social Media Campaign, a simple one. Giving your company an online voice will help you reach out potential customers.
Try to follow the seasonal tendencies, or holiday favourite moments, and use these in your marketing advantage.
Make a special offer, speak about that season, make pictures that tell more about you or your location, share someone’s review or an employee’s fun moments.
This is not a waste of time and it could help your business in so many unique ways.
By defining a simple strategy, try to think how you can stick to it and how much time you can dedicate to it.
Try at least for this whole year and analyse the efficiency by the end of it.
3. A Reward Scheme for your Customers
If you already have a reward scheme implemented in your business, then that’s awesome.
Analyse at the end of the year if the rewards have been well received, if it has worked at all or if customers were expecting something else from this loyalty scheme.
If you don’t already have a Reward Scheme, then think of implementing one.
Why? Because they are so common and almost every shop has one.
Plus, if you don’t show that extra intention to your customers, they most likely will wait to be home and order online.
A Reward Scheme can be anything: collecting points, offering a tiny gift for orders over a certain amount, a discount for the next visit, a VIP content for the new subscribers, etc.
4. A List of your Essentials to Keep constant stock in
I bet you already have one of that lists for your business.
But do you look at it before the beginning of the new year? Do you forecast the new trend coming up? Could there be anything for a low price right now that could benefit you for the end of the new year?
Make a list, or revisit your list, now and see if anything can be bought beforehand.
Have a sneak peek at your competitor’s best seller and see if you can’t introduce these lines too.
But most of all, the reason of that list is to keep track of what should be consistently in your shop regardless of the season or the trend coming up.
5. Support your community
A big thing that could help rise awareness of your shop locally is to support your community.
Either taking part of a charity or sponsoring a freelance, find a way to make the best out of your community.
After all, the community in which you are in shouldn’t be your worst enemy but your ally.
Doing something in return is a very good marketing move for your business.
You can take part of a movement or invite groups to your shops, get a charity box or becoming part of a community group.
It will bring more value to your shop. How? Customers love shops that show a human side.
6. Forecast upcoming trends for the new seasons
Just like listing your Essential products, forecasting trends is meant to help your business keeping in line with your competitions.
It can be a rough idea of what will sell best and what won’t.
But how can you forecast?
Some online researches will help or some phone calls to your suppliers could do.
A good practice is to browse bloggers or online articles that share what could be the big hit.
For example, the unicorn was a bit hit in 2016 to 2018 but 2019 might not be the best seller any longer.
But Cats, on the contrary, will forever be a best seller point! Just look Social Media how much Cat features there are.
So how can that help? Let’s just say you have better bet to buy Cats Greeting Cards than you have buying unicorn toys.
7. Build a strategy around Clearance & Offers
Let’s just say a reward scheme is (almost) necessary for your customers, but having constant offers and/or clearance is much more required.
But how to use these categories efficiently without sounding too cheap or too pushy?
This is when establishing a strategy around your offers could be a good turn over for your business.
An offer doesn’t necessarily stop as an offer but could become multiple possibilities.
You can use your cheapest offer as a free gift when orders are over £20, or use offers as an upgrade to their basket, or create appealing bundles for a fixed price.
8. Specify the Metrics to analyse your business
Also known as KPI, these metrics you set for your business should help anticipate your best-selling months and what strategy works and what doesn’t.
We were amazed to hear how many businesses still haven’t specified any KPIs.
How would you know where your business could go wrong? Or what could tell you a strategy works better than another one?
Define precise metrics, the one that are tailored to your business.
Think of what you truly need to know with accuracy.
How many customers complained, how long an offer has been successful for, what was the best communication tool to reach your customers with, which marketing offer was best combined with, was an event bringing more sell than usual, etc.
TO WRAP UP
This list should cover the most important points to bear in mind while going through the New Year.
It is always good practice to oversee where your business is going, so keep that list close to you when in doubt.
Adjust or add on the go, make this list your Retail’s Best Friend.
What we enjoy the most about this list is how good it will feel in the first month of the year.
With an all-planned business strategy since day one, you save yourself the headache.
So, relax and enjoy the New Year. You’ve got it all (or mostly) covered.