How Early Should Your Business Prepare for a Sale or Promotion?
Running a sale or promotion for your business is a smart move. It can certainly help to attract the attention your business deserves at any time of the year. If you are dealing directly with the public, then you need to create an atmosphere they want to visit and spend their time and money in. When exactly should you start to prepare, well, that is a different story. It will largely depend on what industry you work in and the kind of customers you are trying to attract.
If you are a business owner in the retail industry, you will most likely want to start preparing before each season begins. Most retailers put out their fall clothes before the summer ends and summer clothes before spring has sprung. Preparing a few months or more in advance is probably a good idea. Some shoppers like to start early, so it's better to draw in as many people as early in the season as you can. Why not get an edge on the competition and make your space stand out from the rest?
Step one is to create an enticing store display that will attract current and potential customers to the sale or promotion you are running. It can be as simple as putting up a sign, stringing some lights, and getting your crew into the spirit of the sale. You can start small by advertising online or in print what promotion and sale items you have at your location. Next, you can set up window display that will help lure in any people walking by. Once that is done, move to the in-store displays. Make sure to advertise what items are included in the sale or promotion so that shoppers have an easier time choosing the merchandise they want to purchase.
There are really no specific guidelines to follow. If you know your business and the community you operate in, as well as your products, then you know better than anyone when to kick off a sale or promotion.
In any business, timing and location must be right to be successful. Preparing your business for a sale or promotion at just the right time in the season is no different. In order to have the profitable event, you need to make sure you are attracting the customers you need to push your numbers into the black. That means investing extra capital on advertising. If you haven't taken the time to consider everything that this will entail, now is the time to get started.
As the old saying goes, you need to spend money to make money, and investing is most likely the only way to bring a solid return. If you are lacking the cash to make it happen, it's probably worth looking into getting extra working capital to cover the cost.
Taking the time to prepare your business properly can make all the difference. Invest in your success by creating a clear plan for the future!