How to Drive Serious Year-End Sales
While many exhaust their best efforts and best deals on Holiday Offers, the smartest e-commerce business owners know that there’s no coasting into the end of the year, not when there are additional sales to be made!
A creative Year-End Closeout Sale can capture serious Q4 revenue and catapult sales efforts into the new year. Don’t assume the sales season is over even after the shipping dates before Christmas are gone; there are still big sales days ahead if you can strategically deliver your offers.
Check out these surefire ways to increase year-end sales:
Create a Year-End Spectacle. Use terms and phrases to communicate exclusive offers. Think about auto dealers; they leverage end of year numbers: overstock inventory, liquidation events, and end of year closeout sales to create a sense of urgency for buyers. Here are just a few angles you could take:
2022 Inventory Must Go
Stock up for 2023 with 2022 Deals
Final & Best Deal of the Year
Help Us Reach Our Goal
Off-Season Pricing End of Year Liquidation (our best prices ever)
Create an Exclusive Offer. Offer your most loyal customers exclusive offers for the end of the year to entice more sales. You might grant them first access to a new product or service or a discount on a larger order of bundled products that will give them an incentive to start the new year with a great deal. Exclusive offers can give your products or services a higher perceived value and entice customers to make a purchase now before losing out.
Improve On Your Most Successful Offer. Scan your email campaign reports and ad campaigns to identify offers and deals that resonate with your customers. This winning offer could be the sales leader or merely the offer that grabs the most attention in page visits, clicks, or shares. Once you have identified your best offer of 2022, improve on it. Sometimes, even a small adjustment on price or percentage can help to move product sales in the right direction.
Find Your Best & Worst Selling Products. Evaluate your sales by product and identify which product sold the best and which had the lowest sales. Lead with an active offer for your most popular product(s) but also consider developing a unique sales program (significant discount) to move stagnant inventory. Another way to liquidate sluggish products is to combine them as an upsell item or free gift.
Push the BULK Buy. The holidays awaken the shopper in us all, so while your customers have this mindset, it is important to push them on buying more. Depending on your product, you can group quantities or create bulk offers that move more product at a higher value for your customers.
Recapture the Abandoned Carts. Many customers wait for the best possible deal before they take action, and this is particularly true of your abandoned carts. Export all abandoned carts for 2022 that have not converted and create a unique, specific offer for these customers. This year-end offer should focus on their apprehension and be built up with credibility (reviews) and guarantees, stating return policies, money back, and satisfaction guarantees.
You should leverage social media ads and email lists to increase the reach of your end of year campaigns. If you target the launch of these efforts to start immediately after Christmas Day, you will give yourself nearly one week of strong sales activities.
Happy Holidays and best of luck closing out Q4. Please let us know if we can help deliver your offers to more golfers!