Want to know how your company will prepare for a booming fourth quarter? Regarding the last quarter, the fourth and final quarter can be under a lot of pressure but also the most profitable. The secret is that it’s the holiday season.
The busiest time of the year for online businesses is common during the holiday season. Average order volume also tends to be significantly larger during the last quarter of the year, as well as an increase in the number of orders. The last quarter of the year can account for up to 40% of income for some retailers.
Every quarter is significant, but in business, the last quarter receives a lot of attention. Because the fourth quarter is viewed as the finish line for many enterprises. Now is the time to get to work, put in the effort, close huge sales, and finish the year strong!
And of course, the question now would be how can your company prepare for a successful fourth?
By following these steps you will be prepared,
Step 1: Check your annual goals.
Before you do anything else, you should analyze your company’s annual goals if you have any. The fourth quarter is crucial for companies because it marks the end of the annual sprint, as I’ve already explained. Find those goals, then assess your progress. Analyze the company’s progress towards each goal. Great if you’ve already accomplished an annual goal! Concerning all other goals, you should evaluate them because you are in the middle of the year and determine if you are behind schedule, on pace, or ahead of plan.
Step 2: Set your quarterly goals.
It is time to write your quarterly goals now that you have evaluated your annual goals and know exactly what needs to be done to accomplish them by the end of the year. In the end, achieving the quarterly goals should assist you in achieving annual goals.
For example, if your goal was to reach 50 clients and so far you’ve reached 35 then it means your goal for the fourth quarter is to reach 15 clients.
When it comes to goals with numbers it is usually very easy to figure out what to do, to make sure that the fourth quarter goal allows you to achieve your annual goals. Since you are in the last quarter of the year, your goal is likely to remain as it is when you define it as an annual goal, but from an ideal point of view, you are about to achieve it.
step 3: Plan ahead for your reward.
Explaining how you treat yourself when you reach your goal at the same time you set is something I strongly believe in. There’s no such thing as an extra incentive to keep you motivated, so I hope the goals your company sets are worthwhile. You should be eager to receive your gift.
Step 4: Create a plan
It’s time to plan and organize. You must first plan some critical elements before you start implementing campaigns. Here are a few things you should do to stay one step ahead of your competition and make preparations for the upcoming holiday season.
1. Decide which holidays you want to observe. Choosing which holidays your store will observe should be your first priority. Sharing and planning for it all at once would be insane, so you should pick your battles wisely.
2. Create a calendar for promotions. Using a promotional calendar makes it easy to plan out the actions required to carry out your promotions. When creating a promotional calendar, you should include things like:
Dates and times that you will change your website’s banners and graphics
Dates and times when your marketing emails will be sent out
Indicate the dates on which you’ll launch and end each campaign.
3. Decide which advertising channels to focus on.
Every company, no matter how big or small must consciously choose its advertising platforms. Being too distracted will eventually harm your campaigns.
The months of November and December will undoubtedly be busy ones. If you wait until then to finish everything, you’ll probably end yourself passing over important tasks owing to time limitations. In order to leave November and December free to carry out your promotional calendar, it is crucial to start preparing your content as soon as possible.
Step 6: Track.
There are numerous ways to advertise your shop and goods, including social media marketing, Facebook ads, Google Adwords, and email marketing. However, marketing only accounts for 50% of the total. The second and possibly most crucial part is keeping track of your efforts. Without accurate tracking and analysis, you’ll never know for sure how successful your efforts really were.
Step 7: Execute
Naturally, the last stage is to launch your campaign while precisely adhering to your marketing schedule. By the time you reach this stage, if you’ve planned and organized your project well, the majority of the components ought to be available, and carrying out your plan’s various steps ought to be a simple process.
In the end, A holiday strategy you can start implementing and planning right away. Take advantage of the benefits the holiday season naturally brings to your business, such as high conversion rates and average order volumes, to make 2022 the best year ever for your business.
If you’ve just launched your online store or have questions before launching, feel free to contact us at zVendo.