It’s that time of year, folks. The holiday season is upon us, and we’re (finally) about to close out 2020.
As a small business owner, the holiday season probably goes one of two ways for you. You’re either:
- Getting ready to ramp things up.
- Preparing for a lull in business until January.
If you’re a B2C or product-based business, you’re probably gearing up for a crazy holiday season. For many of you, this may be the most profitable time of the year—which can be both exciting and totally nerve-wracking.
But for many service providers, sales tend to slow down, and customer engagement can become practically nonexistent. If you’ve ever gotten the dreaded, “Maybe after the holidays…” reply to your emails, I feel you.
But don’t worry. Whether you’re bracing for the holiday craziness or preparing for the inevitable slowdown, I’ve got some tips to help you get through it all.
7 tips to prepare for the holiday season if you’re expecting a rush
1 – Review your policies
Take time before the rush to go over your shipping and return policies.
If you have employees, get feedback from your staff on what is or isn’t working. You want to provide superior customer service so you get repeat business into next year.
2 – Crunch your numbers
Start by looking at previous years’ numbers to get an idea of what you can expect this year. Try to anticipate what will be your busiest shopping days, and remember to look at your expenses to get the whole picture.
Use this information to set sales goals and expectations for the rest of the year. Define your minimum, target, and stretch goals through January.
It’s not just about the money, either! Consider setting goals for customer engagement, social media, and other less tangible (but still valuable) targets.
3 – Stock up on inventory
This one should really go without saying, but I’m throwing it in here anyway.
What are your most popular items? What products are you advertising during the holidays? Make sure you have plenty of products in stock, and if you can’t keep a large inventory, make plans to purchase extra inventory quickly.
Your suppliers are also gearing up for the holiday madness, so get started on inventory ASAP to avoid stocking issues.
4 – Update your software
The holidays are stressful enough: don’t let glitchy software add to the stress. If your inventory software is lacking or your POS system is slow, now is the time to upgrade. Consider it a gift to yourself!
You might also want to consider investing in a social media management system like Hootsuite, so you can schedule all your social media posts ahead of time and not have to worry about it during crunch time.
5 – Optimize your online store
Consumers are going to be doing most of their shopping online this year (thanks, COVID!) Make sure your website is updated, clean, and easy for consumers to navigate.
Update your inventory and showcase any holiday-related information (hours, sales, shipping deals, return policies, etc.) Run through the entire user experience, including payment processing, to make sure that everything is working properly.
6 – Prepare your holiday marketing strategy
Brainstorm how you can make your holiday messaging personal and unique. Why should consumers buy your products or invest in your service? What makes you different than the other guys?
Be sure to include any information about free shipping, discounts, and sales. People are in the mood to shop this time of year, and they’re always looking for a good deal.
Speaking of your marketing strategy, something that is super important (but often overlooked this time of year) is your SEO and content strategy. Don’t let this one slip through the cracks.
Look at this year’s trends and figure out what people are searching for in your industry. Use this information to put out valuable content, and tie it to the holidays to make it even more relevant.
7 – Figure out your staffing needs
If you have employees, set their schedule ahead of time so you have guaranteed coverage.
Need an extra hand? Consider hiring seasonal employees—just be sure to get them hired and trained in time.
I know, I know. Training is a pain in the neck. But the time investment is worth it in the long run. The better an employee’s training, the better experience they give your customers.
Here are 6 tips on how to get through a holiday slump
But not all businesses experience the holiday rush. (Where are my fellow service providers at? I know you get me!)
The holidays can be just as stressful for us, but for very different reasons than our product-based comrades. If you go through a work slowdown during the holidays, here are a few tips to keep you same and productive.
1 – Look at your budget. And I mean look at it
Now’s the time of year to evaluate your financial performance. I like to look at all of my expenses and ruthlessly cut anything that’s unnecessary.
Some of your expenses probably aren’t flexible, but there may be some areas where you can reduce spending, like utility bills or office supplies.
Even if cutting back isn’t realistic, you may be able to reign in the spending on less-essential business functions. Every little bit helps!
2 – Audit your systems
This is one of those things that sits on our to-do list and never actually gets done, but it can have a massive impact both on time savings and your budget.
Start by tracking how you spend your time at work. If the thought of doing it by hand has you going cross-eyed, there are plenty of free time trackers available online (like Toggl). I’ve used Timeular for years and love it.
Once you have enough data, sift through how you’ve spent your time. I was flabbergasted when I reazlied how much time I spent on emails and meetings!
How can you spend your time more wisely?
Is there any software or equipment you can purchase? Maybe it would be worth hiring an assistant? You’ll never know until you look at the big picture.
3 – Start your tax prep
Ugh. I know. I don’t want to think about it, either, but tax season will be here before you know it.
Gather your receipts, take the time to understand everything you’ll need (this is especially important if you’ve hired new staff), and figure out how you’ll file.
Will you be doing it on your own? Will you hire a CPA? Start researching now. If you’ve got the time, get ahead of the game so you have less to worry about once business picks up again.
4 – Give your list some love
Touch base with your customers through a quick holiday card or email. You can send a heartfelt thank-you note or offer special incentives just for them. Remind people why they like doing business with you!
You could even send out a survey asking for feedback about their biggest challenges during the holidays. This not only demonstrates that you care about them, but can help you brainstorm what you can do to help customers start their year off on the right foot. Save this information for future newsletters or for when you’re ready to expand your products and services.
5 – Start something new
Time to stop putting off those great ideas that you’ve been mulling over. Now’s the time to take action.
Maybe you want to create a self-led course for your clients, or you’ve been dreaming about finally starting that blog. Have you been neglecting your email list? Create a newsletter template that will make it easier to keep in touch with your audience.
Give it a go! Now is the time to try something new.
6 – Take a break
Break (/brāk/): a pause in work or during an activity or event
(Figured I’d include that for those of you who struggle to step away from your work!) 😉
Seriously though. Consider taking a vacation, even if it’s a staycation. If you’re running crazy 10 months out of the year to make up for a slump during the last two, take advantage of the downtime. Close the laptop, put someone else on the phones if you can, and walk away for a bit. You won’t regret it.
No matter what your holiday season looks like, remember to get into the holiday spirit. Whether you’re slammed with orders or lacking in work, this time of year can get stressful. Try to relax, enjoy the season, and encourage your customers and staff to do the same.