Generating sales after the holidays.

Jan 03 2019 | Contributing writer Gene Marks, small business expert, CPA, and PayPal ambassador

Holiday sales sometimes account for as much two-thirds of the annual profits for a small business.  But does this have to be the case? Maybe not if you’re thinking about how you can be leveraging the work done during the holidays to generate lots of more work all throughout the year.
Have a process for returns and refunds.
Make sure you’ve got a return and refund process setup – online or by phone – so that customers can send goods back and you can easily issue a credit to their account. Train your employees to handle customer service complaints or issues. Be prepared to offer customers alternative products in lieu of returned ones. Build in a reserve for returned products (what was it last year?).

Create a post-holiday marketing campaign.
Use your CRM system to reach back out to customers again offering special deals, promotions or discounts on complementary products based on what they bought during the holidays. Send a thank you message for their holiday business and a coupon for their next purchase.

Hold employee reviews, even for seasonal employees.
Tell them what they did well and offer suggestions for where they can improve. Use the opportunity to strengthen your relationships and perhaps engage them for a longer period of time. Help them help themselves and you’ll find them helping you much more.

Take a look back.
Understand what products sold well and not so well. Determine whether the employee hours that you estimated were exceeded, or over-budgeted.  See if your cash flow forecasts left out anything important.. Learn from your mistakes, leverage your successes and take all that knowledge to make the next holiday season and even better one.


 

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The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.

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