The summer season can be the busiest time of year for many businesses in terms of increases in demand. This has obvious benefits for business owners looking to make a profit, but demand alone does not necessarily mean profitability.
Failing to adequately prepare for the busy season has many negative consequences. The following article identifies three common mistakes that businesses make around the busy seasons and provides tips on how business owners can avoid them.
Failing to Hire Additional Staff
When your business is just starting out, the prospect of paying the wages of additional employees during peak season can be a daunting cost. However, across many industries, the peak season will require more hands-on-deck.
Failing to hire additional staff to man the ship is a common seasonal business mistake that many owners make. Business owners run the risk of neglected customers, which not only leads to overall customer dissatisfaction but may also make your store vulnerable to security threats like theft.
If you don’t have enough people on board to help out, you will inevitably lose out on potential sales if customers can’t get service or have to wait longer than necessary.
Not Increasing Marketing Efforts
During the peak season, every company in the business of the sales of goods or services, even small businesses, will inevitably be busy. One common business mistake during peak season is to neglect advertising by assuming that customers will simply pour in to your store.
During peak season, your competition has automatically increased – you now need to provide customers a reason to come to your business. The best way of doing that is through advertising and marketing your point of difference.
You don’t need to spend thousands on a marketing professional or a big campaign for this. For small businesses, social media marketing should become your best friend. Use social media platforms like Facebook, Instagram and Twitter to get your brand out there, let customers know about your sales and promotions and encourage them to drop by.
Failing to Consider Previous Sales Trends
The last major blunder that small businesses tend to make during peak seasons is to fail to look at your historical data for sales patterns. Many businesses don’t do this because they presume that during the busy season everything will be in high demand.
However, this is rarely the case. There is often only a very small number of fast-moving items which end up contributing the most to a small business’s overall sales. So, before the peak season begins you should look at previous sales trends and identify your best sellers. Once you have identified them, ensure the warehouse is set up so that the popular items can be easily located.