When it comes to the holiday season, many people think about spending time with family, shopping, and family feasts. But for many businesses, especially small businesses, this time of year can make or break their fiscal year.
Here are 4 tips to make sure your business thrives during this important holiday season:
Hire extra staff When it comes to running their business, small business owners can wear many different hats. But when it comes to the busiest time of year, even the hardest working SMB owner can use an extra hand (or two). This holiday season, businesses are expected to hire between 585,000 and 650,000 temporary workers to help with the increased demand. A seasonal temp can help make sure inventory is keeping up with demand, make sure the office/lobby are in order, and help customers find exactly what they’re looking for. All these things can lead to a much more enjoyable experience for the customers, helping your business stand out from the competition, and increasing the likelihood that they’ll return in the future.
Reach your customers This holiday season, consumers will be on their mobile devices more than ever. Consumers use phones to research and compare deals, read business reviews, and pay for services and merchandise. In fact, 40 percent of Black Friday purchases last year were done from mobile phones. Boost sales this year by reaching your target audience with mobile ads so your business is top-of-mind when they’re ready to buy. Just be aware that if you’re accepting card payments, or any other form of digital payments, you should secure your business with cyber insurance in the event that you get hacked. Cyber insurance covers not only you, but your customers, and your reputation.
Offer extended hours The top 10 busiest shopping days of the year are expected to happen between November 23-December 29. With consumers looking to spend, now is the time to capitalize. Consumers typically have more time to shop during the holiday season so being available when they’re looking is the key to success. Offering extended hours, or even opening on the weekends for November and December, can significantly boost profits this holiday season.
Make sure your business is fully covered Increased foot traffic to your business is great for your bottom line, but it also increases the possibility of an accident. A customer tripping, or slipping and falling, can cripple your business if it’s not fully protected. Things like making sure your employees are covered with Workers Compensation, to making sure your General Liability coverage is up to the increased foot traffic, can make or break the holiday season for your business. You can easily check if your business is fully covered.