Increase Productivity & Bottom Line During Christmas
Every good entrepreneur knows that continually increasing their business’ productivity and bottom line are the keys to being successful year round – but what about at the busiest, most stressful time of the year? As you well know by now, your business simply cannot afford to have an unproductive month, definitely not at Christmastime; the holiday season can be the most fast-paced, crucial period of the financial year and yet the perfect opportunity to maximize on profits and boost a business’ market share.
TEN Habitat wants to see your business succeed always, and that’s why we invite you to view a few of our favourite tips on increasing your productivity and bottom line at the most wonderful time of year.
1. Market S.M.A.R.T
Work smart and not hard this Christmas. Implement fun and festive marketing strategies, like bringing full on festive Christmas cheer to the forefront of all social media platforms. Add a Christmas countdown and fun Christmas activity blogs to your sites, which will attract readers and increase your visibility online. Seek to boost sales with attractive add-on offers for the season– you can offer specials on your company’s goods or services for new customers, or even recognize your current dedicated clients for their continued loyalty with incentives like “Friends and Family” referral rewards. Remember, consumers LOVE to know they are getting bonuses where they spend their hard-earned dollars, so not only will this tactic increase customer satisfaction, but it is guaranteed to improve your bottom line.
2. Involve Employees
If your business employs a staff, then you already know that employees are more than just employees – they are your brand’s ambassadors, and the legs your business stands upon. Your employees will be the difference between your business’ success and failure, especially at a time like the Christmas Season. Since they are key players for increasing its profitability, you must ensure that they are well-trained in their roles. Time and money invested into molding knowledgeable and enthusiastic team members will bear fruit to a productive environment and happy customers. Introduce Christmas targets and offer employee incentives to anyone reaching theirs; this is a great way to track your most productive team members and to recognize the hard work they put in! They will appreciate you more for it.
3. Tighten Credit Terms `
Tighten up on your credit terms during the holiday season. Christmastime is the season where a lot of money is being spent, and therefore any usual credit terms you extend may not be honored, whether inadvertently or not. Suspend your usual credit terms for the Christmas period in order to avoid unnecessary loss.
4. Stick to your Budget
Prepare a budget for the Christmas Season to guide your spending and make sure to stick to it. Christmastime can lead way to some major overspending, being the happy time that it is. Although you may have many opportunities to network this season, anticipate those most advantageous for your business and exclude the non-essential or unbudgeted events from your calendar. Avoid any unnecessary spending unless it is for emergencies. By sticking to the provisions of your budget, you are thinking like a wise entrepreneur and can enter the New Year feeling financially on track and ready for another year’s journey.