We are in the throws of glittering decorations, holiday festivities, heavenly aromas, warm wishes, and timeless traditions! But before we know it, these wonderful seasonal delights will become memories we hold onto until next year. As 2023 comes to a close, you may find yourself looking back over the year and analyzing your business successes, opportunities, and growth while also reviewing what worked and what didn’t. A year-end review is a great thing to do and now is a great time to do it as you start defining your strategy for 2024.
2023 has been a big year full of opportunities. As you look back, do a quick self-assessment to see how far you have come!
- How would you rate your approach? When it comes to new products and technologies to grow your business, did you offer a variety? Print options have come a long way this year.
- How was your average order value this year? Have you seen it grow by offering print bundles? Have you adopted the process of always offering one more option when a customer places an order?
- How well have you served your customers? It’s easy to overlook how important customer service is to your business. Every interaction has the potential to cement your relationship or to push you down their list of preferred printers. It comes down to how they are treated and how attentive to their questions and concerns you are as a business.
- How far will you go? Expanding your business during the upcoming year should include a combination of marketing ideas that help to increase your wallet share with current customers while attracting new ones. Start with your current customers and what they buy. Your customer records should help to identify the top five or ten products purchased and what is less popular.
Now that you’ve done a careful review, you have a wealth of valuable information! You’re all set to strategize and hit the ground running for a successful 2024, but before you do, we want you to consider a couple more things:
- Mix up your offerings. Have you been marketing the same set of products for a while? Maybe it’s time to try something new! Your customers have likely set resolutions for the new year, and having a fresh, new image is always appealing. Offer something new, try a bundle, cross-sell, or upsell and position yourself to appeal to their desire for newness. Need ideas? 4over has over 250,000 product SKUs and counting.
- Capitalize on the quiet. Just because the holidays are over (or will soon be over) doesn’t mean there aren’t plenty of opportunities for you to stir up new business. Use the time when your competitors are taking a break to your advantage! It’s a great time to have your marketing message seen and heard amidst the silence. Partner with a trade printer who has sales resources like ready-made product images, emails, and social media assets (and more) for you to send to potential customers. Check out 4over’s marketing resource page to get started — we’ve got you covered!
- Offer incentives. Is there a group of shoppers who did a lot of business with you in 2023 or during the holidays? Thank them with incentives like special loyalty discounts, free shipping, gifts, etc. Send them these offers exclusively so they’ll know that not everyone has access to them. It doesn’t have to be anything extreme — just enough so they’ll know that you’re acknowledging their loyalty. And hopefully, they’ll bring you more orders and referrals in the new year.
- Consider sales and promos. People aren’t expecting sales and promos AFTER the holidays, so this is a very effective marketing strategy. By offering them deals, you’re setting yourself apart from your competition, and drawing the attention of your customers. The discounts don’t need to be anything drastic, but by offering them, you’re giving your customers an incentive to buy when most of the competition isn’t.
Yes, it’s the most wonderful time of the year — for many reasons! Including conducting your year-end review. Just remember, this assessment for your business is a valuable practice that provides insights, informs decision-making, and supports your long-term success so you can set realistic goals, and continuously improve your business. And 4over is behind you every step of the way!
