If your business hasn’t started prepping for the holidays, it’s time to get moving! The holidays are here, and with them come huge opportunities for businesses to maximize revenue. With the right pricing strategies and creative seasonal promotions, you can take advantage of the busiest shopping season of the year.
“Sale-based” shopping days like Black Friday, Small Business Saturday, and Cyber Monday remain crucial holidays for driving sales. But to stand out in an increasingly competitive market, you’ll need to plan carefully and think strategically about your discounts.
Diversify Your Seasonal Discounts
There are endless ways to offer discounts, and variety is key to reaching different types of shoppers.
Here are some ideas for you to try:
- Classic price cuts: Offer percentage or dollar-off discounts on popular items, especially for big shopping days like Black Friday or Cyber Monday.
- Volume discounts: Think “Buy One, Get One Free” (BOGO) or “Buy One, Get One 50% Off.” These deals incentivize customers to buy more.
- Free gifts with purchase: Encourage more spending by giving customers something extra—like a free $10 gift card for purchases over $100. This type of promotion can inspire shoppers to hit spending thresholds they wouldn’t have reached otherwise.
Pro Tip: Use social media and email marketing to promote these deals.
Create Bundles
Bundles are a holiday shopper’s dream—convenience and value wrapped into one. Bundles not only make gift giving easier for customers but can also help you:
- Boost sales: Group items together to create higher-value purchases.
- Clear inventory: Include less popular products in bundles with attractive packaging.
For example: If you sell holiday decor, bundle a wreath with a free ornament. If you sell apparel, offer discounted socks with every shoe purchase. Customers feel like they’re getting more for their money, while you maximize sales opportunities.
Make Seasonal Discounts Time-Sensitive
Urgency is a powerful motivator, especially during the holiday season. Limited-time deals drive shoppers to act fast before the deal disappears or the product sells out.
Here are some ways to create urgency:
- Flash sales: Think “one day only” promotions on popular items.
- Countdowns: This could be a weeklong series of discounts, leading up to your biggest sales.
- Earlybird specials: Reward proactive shoppers with discounts before the Black Friday rush.
Real Word Example: Sony’s exclusive PlayStation 5 sales strategy was a masterclass in urgency. By offering limited-time purchase windows to select customers, they created a sense of exclusivity and pressure, driving quick sales.
Reward Loyal Customers
Holiday sales aren’t just about attracting new clients; they’re a chance to thank your most loyal customers. Offering exclusive discounts or perks to repeat buyers makes them feel valued and encourages them to shop with you again.
Ways to reward loyalty include:
- Exclusive offers: Send higher discounts to your email subscribers or reward program members.
- Tiered discounts: Like Sephora, offer better deals to your top spenders such as 30% off for VIPs while standard loyal customers receive 10% off.
- Early access: Let loyal customers shop sales before the general public.
Personalized rewards show that you’re paying attention to your best customers, which builds trust and encourages long-term loyalty.
Maximize the Season
Holiday discounts are just one part of a successful seasonal strategy. To truly maximize the season, combine discounts with these tactics:
- Content marketing: Share gift guides, holiday recipes, or festive books to connect with customers.
- Free shipping: It’s an important deciding factor during a purchase. Also, see what perks competitors are offering.
- Email campaigns: Use your email list to keep customers informed about exclusive deals and important deadlines.
The Takeaway
Seasonal discounts are one of the smartest ways to boost your revenue during the holidays, but the key to success is refining your strategy and being prepared. Whether it’s stocking up on extra inventory, hiring seasonal staff, or ramping up your marketing efforts, having the resources you need is essential to making the most of the season.
That’s where National Funding comes in. With flexible financing options tailored to small businesses, we can help you prepare for a successful holiday season so that you’re ready to implement these tips and maximize your opportunities.
Don’t wait—start planning now to make this holiday season your most profitable yet.
