November and December are the busiest and the most profitable months of the year for all ecommerce businesses. Even though some of these stores don’t get many sales throughout the year, but during the holiday season, even they get a lot of sales.
As per the National Retail Federation, most small and medium-sized ecommerce stores earn more than 30% of their revenue during the Ecommerce holiday season.
With that said, we believe that as a Magento store owner, you have already done your homework and that your Magento is hosted on a reliable Web Hosting Magento. And, that your store is all set to witness some crazy sales days.
You might even get dreams like engaging customers and generating more ROI this Ecommerce holiday season. Or, that you are now giving a tough time to your competitors.
But, to make that happen, there is still some work to do. In fact, as the saying goes, you can never be too prepared.
We have made a to-do list that will help you assess how ready your Magento store is for the upcoming season. Further, it will also let you take advantage of the booming sales expected during the upcoming ecommerce holiday season.
Plan In Advance
While Ecommerce holiday season undoubtedly represents the most fruitful season of the year for online stores, there is a chance of losing out on profits unless you have adequately planned for it.
The particular areas of concern include:
- Order management
Apart from the handling, these particular concerns make sure that:
- Deliveries happen on time
- Payment methods are working
- Users’ queries are handled efficiently
The planning phase should also decide which holiday events you want to focus on. In addition to the Thanksgiving, Black Friday, Cyber Monday, Christmas and New Year, there are plenty of other events to increase sales opportunities such as Green Monday (the second Monday of December), Free Shipping Day (in the mid-December), and Super Saturday (last Saturday before Christmas, the event for people who always end up completing their New Year and Christmas shopping at the last moment).
Map Out A Promotional Calendar
For the Ecommerce holiday season, print out a calendar and review all events you want to participate in. Examine and identify when promotional material needs to be created, which best deals & discounts to offer, when email and other content needs to be written, and when newsletters need to be sent out, etc.
Besides, it will also help you to create a timeline for the execution of marketing and advertising campaigns for every channel you have selected in your marketing strategy.
Manage Inventory Efficiently
It is the most critical aspect of preparing your Magento and Ecommerce store for the holiday season. You have to evaluate your current products and decide which items have the most potential of doing well in the holiday season. It can be analyzed by sales records of last year to see which products sold the most in the Ecommerce holiday season.
Furthermore, you can also examine if they are still relevant for the upcoming holiday season. Ecommerce trends generally change throughout the year, and social media is an accurate gauge of the widespread interest.
Now, once you have all the data and numbers on the table, start analyzing how much of what product you will need in your inventory.
Re-examine Your Logistics Policies
Logistic Policies are essential aspects that determine the service quality of your Ecommerce store. Transportation and logistic is an outsourced function over which store owners have a very little control.
During the holiday season, many customers experience delays and mishaps in shipping. The complaints can range from missed or damaged deliveries to wrong items and lack of customer support.
Start analyzing the logistics record of at least past six months to get a clear picture of problematic areas and make effective strategies to handle them.
Once you have gathered all the issues, it’s time to negotiate with your shipping provider. Try to discover alternate solutions that minimize roadblocks and bottlenecks in logistics. You can also think to switch over to a new shipping partner but that is probably the worst case solution.
Also, try to make merchandise return and exchange offer as simple as possible for the buyers. It also leads to a long-term customer retention tactic that increases the overall ROI throughout the annum.
Select Right Advertising Channels
Always plan a significant campaign and make the right selection of the advertising channels for your Ecommerce holiday season. Nowadays, a primary channel for most of the Ecommerce stores is social media. Your content needs to be more creative; the competition gets tougher day by day as more and more channels are being utilized by your competitors to market their products.
If you are planning to use social media platforms like Facebook, Instagram, do not just rely on organic results, paid promotions and campaigns can do much better reach out to your targeted audience.
Furthermore, sending Newsletters and Emails is also an excellent tactic for ecommerce store marketing. Your emails to particular customers can include special promotions and discounts, gift cards, coupon codes, and upcoming deals.
Don’t Forget Content is Currency
If your Ecommerce store doesn’t have a blog, then get one. A blog attached to your ecommerce store can create a significant impact on your marketing efforts and bring a lot of potential customers looking for the products that are available on your store.
Ecommerce stores receive high traffic volume during the holiday season. In such cases, a blog with relevant content is the only medium for engaging visitors and converting them to successful long-term customers.
Monitor and Evaluate
It is essential to know what works and what does not. If you are trying to achieve success, the more often you monitor your progress, the higher the likelihood that you will succeed.
The monitoring and evaluating process make sure that your applied tactics are leading you to success. Continuous monitoring and necessary changes to your advertising campaigns can lead you to meet your ROI expectations.
After the monitoring phase is over, make sure to review the list of all action items that you have planned before. Next time when you will be creating a campaign, you will have a list of things that worked for you and the ones that didn’t.
Enhancing ROI this holiday season is all about careful planning and research that covers all aspects of managing the inventory, logistics, and promotional campaigns. You will need to carefully evaluate every process of the buyer’s journey and make sure that it runs smoothly.
Experimenting new ideas can be a bit costly, but it will deliver the valuable lessons when you think out of the box. The primary goal is to stand out in the Ecommerce holiday season, and with fierce competition in the market, it makes more sense to understand your customers and their journey before you start selling your products or offer your services to them.
If you need any query or would like to add any additional ideas about planning for the upcoming holiday season, do leave a comment below.