Bank Holiday sales are an excellent way to give your business a boost. This is especially true if the Bank Holiday falls on or just after the standard monthly payday. Bonus points if the sun is out and you’ve got a physical shopfront as people will be out and about. And if the weather’s bad, your eCommerce site will be bustling with shoppers browsing from the comfort of their sofa. Either way, it’s a win-win situation.
Of course, Bank Holidays are a prime opportunity – meaning Syour competitors will be running sales too. So how can you plan and execute a Bank Holiday sales plan that helps you stand out from the crowd?
Whether you’re a seasoned sales pro or taking the plunge for the first time, this handy checklist will help set you up for success.
1. Set clear goals
Think about what outcomes you want to achieve with your bank holiday sales. Are you aiming to increase revenue, clear out old inventory, attract new customers, or reward loyal ones? Having clear goals will help guide which products you promote, what discounts you apply, and for how long.
2. Plan your promotions
There’s more than one way to run a Bank Holiday sale. Check which of these would fit best with your objectives.
Discounts and Special Offers
Decide on the types of promotions you want to offer, such as discounts, buy-one-get-one (BOGO) deals, bundle offers, or free shipping.
While you need to be careful not to rush customers into unconsidered purchases, it’s perfectly normal to put a time limit on your offers.
Short, intense flash sales that last only a few hours can be an exciting way to give customers the chance to grab an offer.
Offering exclusive deals to your loyal customers or email subscribers is a great way reward their loyalty.
3. Market your promotions
Now you’ve established what you want to accomplish, and the deals you’ll use to make it happen, it’s time to make some noise.
Design banners, graphics, and visuals to promote your sales on your website, social media, and email campaigns.
Send out targeted email campaigns to your subscriber list, showcasing your promotions and providing a direct link to your sales page.
Social Media Promotion
Utilize your social media platforms to promote your upcoming sales. Don’t forget to use relevant hashtags and encourage user engagement.
If the sale will be running for a while, consider making a dedicated landing page on your website showcasing all your deals and promotions in one place.
If you work with a finance provider, ask them to help promote your Bank Holiday sales in advance as well.
4. Optimize your website
Most of us do our online shopping with our mobile phones. Make sure your website is responsive and works seamlessly on mobile devices to prevent shoppers from getting frustrated with slow load times or poor UX.
For example, DivideBuy’s credit journey takes less than two minutes from application to decision – so customers can breeze through checkout quickly.
Make it easy for customers to find the bank holiday sales section on your website. Use clear calls-to-action (CTAs) and intuitive navigation – like a custom button on your website header.
4. Prepare inventory and resources
Make sure you have enough inventory to meet increased demand over the Bank Holiday period.
Your customer support team will also need to be ready to handle a potential influx of inquiries and orders. Ensure they’re up to speed with the details around your promotions and deals.
5. Offer retail finance
Discount strategies and offers are one way to attract attention during Bank Holiday spending sprees. But customers will still be looking for ways to spread the cost as much as they can – so consider offering multiple payment options.
There are many retail finance providers out there. For practical ways to choose the right provider for you, visit our helpful guide on this topic.
6. Monitor and adjust
Use tools like Google Analytics to track the performance of your bank holiday sales. Monitor metrics such as website traffic, conversion rates, and sales revenue.
Pay attention to customer feedback and reviews. Use this information to make improvements for future sales events. If you notice that certain promotions are performing better than others, consider adjusting your strategy mid-campaign to focus more on what’s working.
7. Post-sale engagement
Send thank-you emails to customers who made purchases during the sale. You could also think about offering them a special discount on their next purchase to inspire loyalty, or remind them of other items they considered but didn’t buy.
For example, when customers run a soft credit search successfully but then abandon their baskets, we send them an email reminder to complete their purchase.
After the sale, analyse the data you’ve collected to gain insights into customer behaviour and preferences. This information will help you tailor any future sales for even better results – so it’s vital you have a system in place to capture this data.
DivideBuy’s merchants get real-time sales insights on their Merchant Portal dashboard, as well as detailed business reports from our account managers.
A successful bank holiday sales plan involves effective planning, engaging marketing, and a seamless shopping experience for your customers. By implementing these steps and continually improving based on your results, you can create a strategy that not only boosts sales but also strengthens customer loyalty.
To find out more about how we deliver conversion and approval rates for merchants, book a demo with us today.