We are rapidly approaching the end of another fiscal year! How has your retail business performed?
Whether it’s been an outstanding year or an utterly forgettable one, there is always more you can do to enhance sales in the closing weeks of Q4, and to finish up this year with a bang.
Rethink Your Mobile Strategy
You have already optimized your site for mobile and introduced mobile transactions to your retail business model – what else can you do? Well, quite a lot, in fact.
How about introducing price comparison to your mobile strategies, putting the best deals and prices right into your customers’ hands?
What about mobile POS, enabling staff members to check stock levels and create orders on the spot?
Mobile has touched every aspect of our lives; make sure your business is no exception.
Don’t Forget Promotions
When boosting profits in the short term, a little special offer or promotion can go a long way.
As you position your retail organization for that final sprint over the line at the end of the fiscal year, think about your previous interactions with customer and clients.
What did they want to see? What did they think you could improve? Find out what your customers need and deliver it to them.
Go the Extra Mile
To have a successful Q4, you need to make sure that you are getting the word out there.
If you have a new product to launch or a new offer to publicize, or are making any changes to your services that you feel your customers should know about, tell them!
Combine your marketing strategies. Bring social, content, traditional, and word-of-mouth methods into line, and make sure that your customers are aware of what you are providing.
Modern marketing is a diverse world, so make sure you are doing it right.
In the clamor to boost end-of-year sales and bring in more customers, too many retailers neglect the service and aftercare they provide. This is a huge mistake.
You see, focusing on service is actually an active strategy in boosting profits – and one that can see your business close out the year in style.
For example, 67% of shoppers now take return policies into account before purchasing, while one in two shoppers describes themselves as actively influenced by return shipping fees.
Look after your customers and the profits will look after themselves.
The Combined Approach
To what extent do you agree with the following statement? “Ecommerce is the retail revolution. It has changed everything and nothing will ever be the same.”
While it is true that ecommerce has been a major game changer in retail, it is not worth abandoning more traditional methods just yet.
Statistics show that around 40% of shoppers – across a range of demographics – still favor the traditional shopping experience. Can you afford to miss out on 40% of your market?
When developing your end-of-year strategies, do not neglect the experience you offer to customers in-store. This ensures that you are covering all bases and optimizing your firm for success in the final quarter.