Hi everyone, another month, another newsletter, hopefully, one that’ll warm the cockles of your heart as the temperature drops. The clocks have turned back, so you have an extra hour to do great things. Use it wisely, as every second counts!
May I suggest a good use of your time at the moment would be to do a quick audit of your readiness for the fast-approaching festive season?
Preparing correctly for Christmas can be make-or-break for SMEs. While it naturally presents fantastic opportunities for increased sales and customer engagement, adequate planning will help to make this a reality.
While not every kind of business will be mad-busy over the holidays, spare a thought for our colleagues in retail or hospitality, where Yuletide is a super-important time of year that does much to set them up for the year to come.
So, in the spirit of making your festive season take off like a jet-engined sleigh, here are some steps that many SMEs can take to prepare for this busy time of year.
Plan Ahead
Many will have started planning for the holiday season well in advance, ideally a good few months before December. If you haven’t, there’s still time. Think about what are likely to be the critical drivers for your clients at this time of year and develop a comprehensive strategy to meet their needs. In some cases, this will be about stock and inventory, and in others, a simple end-of-year review and a thank-you gesture for their custom.
Stock Up
An analysis of your sales data from previous years helps you make informed decisions about the number and type of products you need to stock for the holiday season. Another important aspect here is to have a good idea of the current trends in your sector. What’s this year’s hot new gadget or toy? What Xmas grub is popular this year? That sort of thing. Don’t be left with empty sh-elves (sorry) and disappointed punters!
Marketing and Promotion
Have you nailed down your festive marketing plan? That means creating a holiday-themed marketing campaign to attract customers. This doesn’t have to be expensive, especially if you use social media, email marketing, and your website to promote special deals, discounts, and hot products. For those with a bit of budget, you might consider running paid advertising campaigns on Google Ads or Facebook to reach your target audience.
Get Tinsel-tastic
If you have a shop or outlet, then it goes without saying you need to decorate it with holiday-themed glittery paraphernalia to create a festive atmosphere to attract foot traffic into your store and get them buying.
E-comm Readiness
Is your website ready for increased volumes? Is it chock-full of festive goodies, and do you have a ramp-up plan to add items as they land in your warehouse? This is also the time to check for technical issues like ensuring optimal loading times and that your online store is in tip-top shape for mobile visitors. E-commerce is an excellent route to market, but only when it works efficiently!
Shipping and Fulfilment
Communicate your shipping terms clearly to customers to ensure they get their delivery in time for the big day (allowing for wrapping time!). Can you offer express shipping options for last-minute shoppers? Perhaps liaise with your couriers to check they’re ready for the Xmas onslaught, too.
Customer Service
Do you need to hire seasonal staff or extend the working hours of your customer service team to accommodate increased questions and orders?
If you need extra help, allow time in your recruitment push for some staff training. Seasonal hires could be as helpful as a snowman in a sauna otherwise.
Promote Loyalty
Find ways to reward loyal customers with exclusive discounts, early access to promotions, or special holiday-themed events and gifts. Christmas is the ideal time to show customers you appreciate their custom and look forward to serving them in 2024.
Manage Your Cash Flow
Increased activity leads to increased expenses, so you must have enough cash flow to cover inventory, marketing, and additional staffing costs. Ideally, this will be included in your medium-term cash flow planning, but if you need help updating this, you know who to call!
Returns and Exchanges
Alas, for all the smiles and effusive thanks on the 25th of December, some businesses can expect to see a fair few items returned for a refund. It’s all part of the festive cycle, so prepare accordingly in your processes and finances. Ensure you have a transparent, fair and customer-friendly returns policy that’s legally compliant (these differ for store and online purchases).
When You Think It’s All Over
It’s not! You’ll need a plan for after Christmas, trust me. Will you have a New Year sale? What about a stocktake? Do you need to start work on your accounts to meet the January deadline? What are your plans for 2024? How will you engage with customers and see how they’re facing up to another year? That’s the thing about running a business. While it has differing priorities at various times, the most crucial aspect is always moving forward with a keen eye on your clients and what they need now and in the future.
I do hope that’s helped. By taking these steps, your SME can make the most of the Christmas season, boost sales, and build an ongoing loyal customer base. And don’t forget there’s a lot the Enso team can do to help, including getting you last year’s trend data, planning your cash flow or installing an Ensomatic Suite so you can monitor the festive season in real-time. Get in touch, and we’ll do all we can to help you have a cracking Christmas.
An EV For EVeryone?
Picking up on some of the points I’ve made in previous newsletters, I want to give you a heads-up for the New Year.
Just because the government has scaled back their Net Zero plans doesn’t mean we have to, and Citroen has come to the rescue again. As you know, I’m a big fan of EVs, so this product caught my eye.
Citroën is introducing the fourth generation C3, the New ë-C3, which challenges conventions for EVs, especially in terms of price. When it’s launched in H2 2024, it will be around £22K. At the time of writing, that would make it the cheapest full-spec EV manufactured in Europe. And it’s a proper car!
The ë-C3 offers best-in-class comfort, advanced technology, and affordability. It features a forward-thinking design, retro Citroën logo, and innovative front and rear lighting. For those who enjoy a soft ride, the distinctive Citroën Advanced Comfort® suspension offers sublime comfort, they claim. The marketing blurb discusses a spacious interior designed for a home-like ambience and offers improved headroom and visibility. Intelligent storage solutions and practical rear seat modularity add to its practicality.
The electric New ë-C3 uses a cost-efficient 44kWh LFP battery for up to 199 miles of range and fast charging options. An 83kW motor delivers ample power for daily driving, especially in urban settings.
OK, that’s enough marketing Citroën, but there are some salient points here. This is no concept car. It’s a real market-ready EV within reasonable reach of, well, everyone.
It shows there’s increasing market demand, innovation and a growing awareness of the role EVs will play in a greener future. The ë-C3 is a vanguard in the march to an affordable all-electric-tomorrow where price is not a disincentive to invest. The launch timing shows that Stellantis N.V. (the owner of Citroën) has firmly set its plans to meet the 2030 Net Zero deadline, and we should all do the same if we can.
Maybe a Citroën ë-C3 is something you can treat yourself to after a successful festive season and a banging start to 2024.
OK, there are plenty of things to think about there. I hope it’s been helpful and given you some stuff to do before the festive season begins.
Naturally, if you need help with your festive plans, then we’re always here on the usual channels, so drop me a line and let’s all have a great Yuletide.
All the best
Adam