It's common to experience a drop in sales once the holidays end. Thankfully, the post-holiday slump doesn't have to be the slowest season of the year.
"Remember, the post-holiday period isn't a sales drought; it's a fertile ground for nurturing relationships with your customers," encourages Justin Soleimani, Co-Founder of Tumble. "This is an opportunity to turn the January blues into January booms by making strategic moves that resonate with your audience."
This is the perfect time to kick your sales into high gear through mindful strategies you can continue to incorporate throughout the fiscal year. Grab a leftover cookie, and let's explore some industry leaders' top tips to keep your sales strong in January and beyond.
1. Review Last Year's Consumer Data
This sales slow-down is a helpful time to review last year's consumer data and readjust your goals for the year ahead. To build a successful sales strategy, you first need to know what is and isn't working for your business.
"Don't skip the data-review step in strategy building," warns Michael Klein, CEO of Herbaly. "It's crucial to understand how your strategy has been working to know where it should go in the future."
Take advantage of the slower season by coming up with a data-backed sales strategy that's stronger than ever.
2. Get Feedback from Holiday Shoppers
Reaching out to customers who shopped with you over the holiday season is an effective way to build valuable relationships and gain insights into consumer value. For example, offering a discount in exchange for a review on products customers buy often brings them back to your business while giving you important data.
"After the holiday season, the worst mistake a business can make is forgetting about the huge pool of potential returning customers they just found," explains Andy Khubani, CEO of Copper Fit. "Businesses should reach back out to holiday shoppers, engaging with them and gathering their feedback."
Use the post-holiday season to foster relationships with and gain insights from the new shoppers who bought gifts with your business.
3. Incorporate Tech for Trend Analyses
Tech is a useful tool to scope out trends and give your customers products and services they didn't know they needed. There are plenty of options to consider that will help you start your new marketing phase without unnecessary busy work.
"AI is a powerful tool for analyzing today's trends while making predictions about the trends of the future," says Maggie Brown, Founder and CEO of Recess Pickleball. "AI helps businesses stay ahead of the curve and create services before customers even realize they need them."
Whether it's an AI name generator or predictive product recommendations, harnessing the power of technology will strengthen your business strategy and give you an edge against your competitors.
4. Refresh Your Marketing Strategy
The new year is an ideal time to revamp your marketing plan. Start with social media, a goldmine for keeping your brand on shoppers' minds. For holiday shoppers who didn't make a purchase, you can launch an email campaign to attempt to retarget them for Q1.
"When making your marketing strategy, you should get personal, tell a story, and make them laugh," expresses Roman Peysakhovich, CEO of Cleango, a company that specializes in commercial cleaning services. "Remind them why they loved you in the first place to maintain a strong customer relationship."
A strong marketing strategy fosters a deep connection with your audience based on emotional appeals and personalization. The post-holiday slump is an opportunity to fine-tune your strategy to connect more deeply with your customers.
5. Create Promotions and Incentives
While Black Friday and Christmas sales are some of the most publicized events of the year, New Year's resolutions are prime opportunities for promotions. Offer deals on gym gear, planners, and other inspirational products that appeal to consumers looking for a new start.
"There are unexpected sales opportunities in the New Year, especially in the productivity sector," says Amanda Howland, Co-Founder of ElleVet Sciences. "Instead of focusing on gifts, promote products and services that align with the new goals that come during a new year."
Offering tailored promotions and incentives in the New Year, like a loyalty program, allows you to establish a long-term relationship with the "New Year, New You" audience.
6. Create Targeted Ads
Targeted ads are advertisements personalized based on the behavior of an individual consumer. You can create targeted ads for the variety of needs of your audience and let the algorithm offer the best ad to bring in each individual shopper.
"Targeted ads are essential in modern-day marketing; generic ads simply don't cut it anymore," shares Shaunak Amin, CEO and Co-Founder of SwagMagic. "You need to connect personally with your audience and show them exactly how your product fits into their life."
When your ads are personalized to a shopper's unique patterns and interests, you're more likely to see them follow through on purchases.
7. Diversify Your Product or Service Range
Use the post-holiday tranquility to get creative and brainstorm. You don't have to reinvent the wheel, but these early months are the time for any re-structuring or re-imagining you've been putting off during your busiest seasons.
"While having a clear niche is crucial to marketing your business, you want to have a diverse and innovative set of offerings that stands on its own," explains Dakota McDaniels, Chief Product Officer of Pluto, an AI stock trading platform. "This involves continually revisiting your offerings and considering fresh solutions."
With a blank slate at the beginning of the year, you can fully focus on your business's more creative concerns.
8. Offer Premium Customer Service
Customer service is the face of your company. Your customers feel most valued when they are met with premium, friendly, and efficient CX.
"Your customers feel inclined to return to your business when they see quality customer service," Maegan Griffin, Founder, CEO, and nurse practitioner at Skin Pharm, recommends. "Provide clear avenues for contacting your customer service representatives and make sure to anticipate your customers' needs."
Be prepared for an increased workload from holiday season returns by testing and optimizing your communication infrastructure. Consider creating an automated chat feature on your site with 24/7 customer service and easy-to-use contact functions. Ultimately, each return is an opportunity to retarget a customer who may be newly acquainted with your brand.
9. Cultivate Customer Relationships
As any business owner knows, it's more expensive to find a new customer than it is to keep a returning one. Personalized offers through SMS or DMs let you build upon the customer relationships you created during your holiday sales.
"Your existing customers are 50% more likely to try new products and services from your company, and 75% say if a brand asked them for feedback on future products or ideas, they'd be more inclined to purchase from that brand," states Susan Frech, CEO of Vesta.
Collect customer feedback to inform your plan for the year. Then, embrace customer appreciation events and VIP sales as simple ways to thank them for their support and encourage them to return.
10. Motivate and Engage Employees
Post-holiday blues hit your sales staff, too, but their enthusiasm will be the key to future success. A happy and healthy team is much better prepared to build and maintain a successful business than a burnt-out and underappreciated one.
"Companies that make true employee satisfaction a priority will ultimately put themselves on stronger financial footing," explains Ron Carucci, cofounder of Navalent, "Employees who enjoy where they work will be more engaged and productive and more likely to contribute to your organization for many years to come."
While positive verbal encouragement is always helpful, adding employee incentives like fun goals or Employee of the Month initiatives maintains their motivation while the weather is dreary.
11. Celebrate Team Wins
It's easy to get caught up in the hustle and bustle of the holiday season and let the end of the year pass without taking time to celebrate the wins of the year. However, taking the time to celebrate your business's wins is a motivator for your team to keep you on track for your goals.
"As you enter the new year, make sure to take time to look back on the past year and celebrate your wins," expresses Travis Mydock, DUI and Criminal Defense Attorney at Mydock Law. "It's helpful for morale and the fun part of running a business."
Take time in the new year to review the successes and growth points over the past year and make a point of celebrating them with your team.
Defeat the Post-Holiday Blues and Keep the Registers Ringing
Keeping sales strong after the holidays is like getting back to the gym—it's all about consistency, creativity, and courage. With these helpful tips, this new year is poised to be your best sales year yet.
