{"id":3906,"date":"2024-02-02T13:47:03","date_gmt":"2024-02-02T17:47:03","guid":{"rendered":"https:\/\/www.skypointfcu.com\/wph\/workarea\/?p=3906"},"modified":"2024-02-02T13:47:29","modified_gmt":"2024-02-02T17:47:29","slug":"avoid-these-3-business-mistakes-during-the-holiday-season","status":"publish","type":"post","link":"https:\/\/www.skypointfcu.com\/wph\/workarea\/blog\/avoid-these-3-business-mistakes-during-the-holiday-season\/","title":{"rendered":"Avoid These 3 Business Mistakes During the Holiday Season"},"content":{"rendered":"\n<p>A broken website. Sold-out items. Shipping delays. These conditions can be detrimental to small businesses during the holiday season, arguably the&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/shopping\/2023-holiday-shopping-report?utm_campaign=ct_prod&amp;utm_content=1454213&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">busiest time of year for retail sales<\/a>.<\/p>\n\n\n\n<p>\u201cWe see some of our clients in one weekend \u2014 like over Black Friday, Cyber Monday \u2014 make more money that weekend than they do for the entire year. It\u2019s a huge opportunity,\u201d says Sharon Lee Thony, founder and CEO of SLT Consulting, a boutique digital marketing agency, and a Verizon Small Business Digital Ready instructor.<\/p>\n\n\n\n<p>Small-business owners may not be able to plan for every contingency, but identifying some of the more likely (and costly) possibilities, as well as having plans to prevent them, can help position businesses for success.<\/p>\n\n\n\n<p>Here are three of the most common mistakes small businesses make leading up to and during the holiday shopping season, and tips to avoid them.<\/p>\n\n\n\n<p><strong>1. Failing to plan ahead<\/strong><\/p>\n\n\n\n<p>Planning ahead is key to running a small business, but it\u2019s even more important during the holiday season when you\u2019re anticipating an influx of sales.<\/p>\n\n\n\n<p>This means having things in place operationally to be able to handle the greater volume of traffic to your&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/ecommerce-website?utm_campaign=ct_prod&amp;utm_content=1454213&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">e-commerce website<\/a>&nbsp;or foot traffic in your stores, Thony says.<\/p>\n\n\n\n<p>She recommends preparation strategies such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Making sure you have enough inventory.<\/li>\n\n\n\n<li>Hiring additional, temporary staff.<\/li>\n\n\n\n<li>Checking that your website is optimized and links are working.<\/li>\n\n\n\n<li>Creating competitive promotions that offer value to customers.<\/li>\n<\/ul>\n\n\n\n<p>If you have it, use historical data to anticipate your seasonal needs and guide planning decisions. In order to make sure you\u2019ll&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/control-your-inventory?utm_campaign=ct_prod&amp;utm_content=1454213&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">have enough inventory<\/a>, for example, you can create a sales forecast or inventory demand plan, says Hannah Shr, senior program manager at ICA Fund, a small-business accelerator based in California.<\/p>\n\n\n\n<p>Performing these analyses ahead of time can help ensure that you\u2019re not scrambling as the holidays approach, nor leaving \u201cmoney and opportunities on the table,\u201d Shr says.<\/p>\n\n\n\n<p><strong>2. Forgetting the customer experience<\/strong><\/p>\n\n\n\n<p>When you\u2019re trying to manage your inventory, staff and marketing down to the smallest details, it can be easy to forget who\u2019s on the other side of the sale.<\/p>\n\n\n\n<p>But making your customers feel special \u2014 feel that you understand their needs \u2014 can help you stand out from your competitors during this busy time of year, said Oleg Donets, founder of marketing platform Real Estate Bees and SCORE business mentor, by email.<\/p>\n\n\n\n<p>Investing in personalization is one way businesses can prioritize the customer experience. Donets recommends segmenting your customer base as granularly as possible so that you can precisely tailor your messaging and offerings.<\/p>\n\n\n\n<p>Avoid a general offer, like \u201c20% off all merchandise this holiday season,\u201d he said. Instead, you might consider an exclusive promotion for those who&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/email-marketing?utm_campaign=ct_prod&amp;utm_content=1454213&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=jsaenzmcefcu-org\">opt in to your email list<\/a>&nbsp;or a special sale for repeat customers.<\/p>\n\n\n\n<p>Investing in your existing customer base, in particular, is a \u201cgreat way to leverage this holiday shopping period,\u201d Thony says. Customers who are already familiar with your brand are likely willing to buy more, share gifts with friends and spread the word about your business.<\/p>\n\n\n\n<p><strong>3. Overlooking collaboration<\/strong><\/p>\n\n\n\n<p>As holiday shoppers search for the perfect gifts, one way to amplify your business\u2019s visibility is to connect with other businesses, specifically those that complement your own, Shr says.<\/p>\n\n\n\n<p>For instance, if you run a small candle company, you might partner with a soap maker or local spa to create a \u201cpampering\u201d themed holiday basket. Similarly, a brewery with increased foot traffic during the holiday season might work with various food trucks to promote their businesses.<\/p>\n\n\n\n<p>\u201cThere\u2019s something really powerful in collaborating,\u201d Shr says. Business owners who see each other as resources can help each other out and work together toward success.<\/p>\n\n\n\n<p>Local business groups and nonprofits can also be excellent resources for collaboration during this time of year. Some of these organizations operate community holiday markets and promote small businesses in local media, as well as offer other opportunities for you to share your story with potential customers this holiday season.<\/p>\n\n\n\n<p>You can find these groups through social media, your local Chamber of Commerce or a simple online search.<\/p>\n\n\n\n<p><strong>More From NerdWallet<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/business-loan-interest-rate-tips?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1454213\">How to Get the Best Interest Rate on Your Business Loan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/gift-cards?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1454213\">How Retailers Can Tap Gift Cards to Unwrap Holiday Success<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/entrepreneurs-with-disabilities?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=jsaenzmcefcu-org&amp;utm_content=1454213\">Entrepreneurs With Disabilities Activate Allies, Rewrite the Narrative<\/a><\/li>\n<\/ul>\n\n\n\n<p>Randa Kriss writes for NerdWallet. Email: rkriss@nerdwallet.com.<\/p>\n\n\n\n<p>The article Avoid These 3 Business Mistakes During the Holiday Season originally appeared on NerdWallet.<\/p>\n","protected":false},"excerpt":{"rendered":"A broken website. Sold-out items. Shipping delays. These conditions can be detrimental to small businesses during the holiday season, arguably the&nbsp;busiest time of year for retail sales. \u201cWe see some of our clients in one weekend \u2014 like over Black Friday, Cyber Monday \u2014 make more money that weekend than they do for the entire [&hellip;]","protected":false},"author":7,"featured_media":3912,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","attr_excerpt":["A broken website. Sold-out items. Shipping delays. These conditions can be detrimental to small businesses during the holiday season, arguably the\u00a0busiest time "],"footnotes":""},"categories":[3],"tags":[7,8,21,35,43,12,20],"class_list":["post-3906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance","tag-bank","tag-borrow","tag-checking","tag-digital-banking","tag-financial-wellness","tag-resources","tag-savings"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Avoid These 3 Business Mistakes During the Holiday Season - SkyPoint Federal Credit Union<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avoid These 3 Business Mistakes During the Holiday Season - SkyPoint Federal Credit Union\" \/>\n<meta property=\"og:description\" content=\"A broken website. Sold-out items. Shipping delays. These conditions can be detrimental to small businesses during the holiday season, arguably the&nbsp;busiest time of year for retail sales. \u201cWe see some of our clients in one weekend \u2014 like over Black Friday, Cyber Monday \u2014 make more money that weekend than they do for the entire [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.skypointfcu.com\/wph\/workarea\/blog\/avoid-these-3-business-mistakes-during-the-holiday-season\/\" \/>\n<meta property=\"og:site_name\" content=\"SkyPoint Federal Credit Union\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-02T17:47:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-02T17:47:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.skypointfcu.com\/wph\/workarea\/wp-content\/uploads\/2024\/02\/blog-promocoupleshopping.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Choque\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Choque\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.skypointfcu.com\/wph\/workarea\/blog\/avoid-these-3-business-mistakes-during-the-holiday-season\/\",\"url\":\"https:\/\/www.skypointfcu.com\/wph\/workarea\/blog\/avoid-these-3-business-mistakes-during-the-holiday-season\/\",\"name\":\"Avoid These 3 Business Mistakes During the Holiday Season - 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