The holiday season is a critical period for almost every business in the country. With consumer spending at its peak, all businesses need to take advantage of the season and make efforts to increase holiday sales.
However, capitalising on this opportunity is not as smooth sailing as it sounds. Yet with the right strategies and financial resources, you can aim for exponential sales this year.
To help you make the most out of this holiday season, we bring you this article discussing how a commercial loan can help increase holiday sales this year.
Regardless of whether it is a small enterprise or a large corporation, our simple yet effective tips will help you leverage this opportunity and ensure a successful season.
Let’s get started.
One of the biggest holiday season blunders that can happen is running out of inventory. Some of the largest organisations run into this problem where they aren’t able to match the demand for their products and services.
A commercial loan is a brilliant way to avoid this. With careful planning and execution, you can take a proactive approach to inventory management. In fact, along with increasing the number of stock, you can also look into introducing new products that revolve around the holiday season.
It is also a good idea to implement advanced inventory management systems that can help you keep track of your inventory in real-time. This will not only help avoid overstocking and understocking but also increase overall operational efficiency.
Marketing and Advertising
It is a widely known fact that marketing and advertising are among the most indispensable factors of business growth in the 21st century. The importance of these business tools increases exponentially during the holiday season.
As businesses across the globe go out of their way to create carefully planned marketing campaigns to target their market, it is essential to stay ahead of the competition.
A commercial loan can not only allow you to hire professional marketing experts but also provide you with the resources required to execute your advertising campaigns effectively.
From paid advertising to search engine marketing to social media advertising, the world of marketing is vast. However, with enough resources, you will be able to execute highly tailored and targeted campaigns that increase holiday sales exponentially.
Seasonal Hiring and Extended Hours
The holiday season accompanies a huge surge in customer traffic, both in-store and online which may not be manageable with limited staff and working hours. From last-minute shoppers clocking out late at night to families spending hours in the store, it becomes important to cater to every customer’s needs.
That’s why it is a good idea to use a portion of your commercial loan for hiring seasonal employees and extend your business hours. This will help you deliver exceptional customer service and increase convenience for your customers.
Furthermore, increased staff also means a more organised and cleaner store, which enhances customer experience and word-of-mouth marketing. On the other hand, extended business hours like early morning openings and long weekend hours can increase holiday sales by increasing your store’s accessibility.
Customer Loyalty Programmes, Discounts, and Bundles
Customer loyalty is priceless for any business, especially during the holiday season. With a number of businesses offering loyalty programmes in the form of redeemable points and coupons, the holiday season warrants various types of discount offers.
By using your commercial loan, you can leverage your financial flexibility and offer discounts, bundle offers and launch your own customer loyalty programmes. These are not only potent tools for retaining existing customers but also a great way to attract new ones.
Moreover, bundle offers and bulk discounts also encourage customers to purchase more products than they need. This in turn boosts sales while also increasing customer loyalty.
Choose Knights Row for the Best Commercial Loans
The holiday season is the perfect time to pull all the stops and finish the year with a profitable season. In these times, a commercial loan can completely change the game.
With a commercial loan, you have all the financial resources you need to increase holiday sales and maximise your business potential. However, when applying for commercial financing, it is essential that you work with a reliable broker.
As one of the leading commercial finance brokers in Leicester, we help businesses like you find finance solutions tailored to your needs. With a large network of lenders and financiers, we help you access exclusive commercial finance solutions that aren’t easily available on the market.
What’s more, with our team of professional finance experts, you get the most affordable and suitable commercial loans for your business. We also manage everything from paperwork to applications and negotiations to ensure you get the best financing solutions possible with the least amount of effort.