The first milestone of the holiday sales season is over, and we hope that what Amazon calls the “Turkey Five” was everything you hoped for. You worked hard, chose the right products to feature and raked in the receipts.
Don’t think of this as hitting the pause button, but it is time to take stock of, well, what you have in stock.
Some helpful suggestions:
Customer Profile – Knowing your customer is key – their buying habits and hopefully their loyalty is something you can build on. But how can you leverage that information in a way that sets you apart from your competitors?
If you’re a practitioner of Recency, Frequency, Monetary Value (R-F-M), you can use the data you capture to highlight your best and most recent/promising customers to maximize sales potential over the next few weeks.
Not familiar with R-F-M? You can read more about the concept in our two-part series on the Freestyle blog, Customer Scoring in M.O.M. Using R-F-M and How to Implement R-F-M in M.O.M. – these provide all of the information you need.
Inventory Matters! – Now is the time to make sure your commerce site inventory and system of record are in complete, synchronous harmony with each other.
Remember that you can’t sell what you don’t have in stock, well, not without getting into trouble with your customers. Our customers here at Freestyle are focused on inventory every day of the year, and the lesson that we take from that is using spreadsheets to juggle inventory levels across channels is never sustainable. In fact we take joy in having helped end that nightmare for our customers by supplying the tools they need to synchronize inventory across all their sales channels.
Deadlines Ahead – Every one of your customers expects their carefully selected gifts will arrive on time, and to accomplish that you need to know when to ship. The USPS has a lot of helpful information about shipping deadlines during the hectic holiday season.
If you would like to join the discussion please enter a comment below, and if you’re looking for a gift for yourself, a new order & inventory management solution could be just what you need to make your next holiday season merry and bright. Contact us at email@example.com to learn more.