Festivities have long since been an opportunity for both consumers and businesses alike.
Consumers get an opportunity to splurge and indulge in goods and services, while businesses and companies can seize this chance to boost and grow their sales and earn higher revenue. During the festive time, small and new businesses can use simple sales tactics and promotions to make themselves more well-known and advertise their services or products with greater appeal.
Online Business Loan for Festive Season
To finance all the campaigns and promotions that need to be done during the festive seasons to boost sales, you will be needed additional funding to do so. This can come in the form of business loans. Taking a business loan can greatly reduce the monetary burden that will come in financing advertisements and promotions and theme decorations.
The features of a business loan are:
|Age||21 to 65 years|
|Business cash profit||Minimum of 2 years|
|Loan amount||Rs.50 thousand – Rs.2 Crore (Varies depending on the lender)|
|Rate of Interest||1.5%- 2.5% (Varies depending on the lender)|
|Processing fee (if applicable)||2%- 3%|
|Tenure||6 months to 3 years|
|Repayment Scheme||Bi-Weekly or Monthly EMI|
If you are running a small business, then you can approach financial institutions like banks, NBFCs, and loan lending organizations to appeal for a small business loan.
You can also apply for an online business loan which is also a quick and secure way to acquire the necessary funding for you to make the most of the festive season.
Here are 10 Ways to Boost Your Sales and Grow During Festive Times:
1. Social Media Strategies:
With the internet and online culture changing at a fast pace, social media platforms like Facebook, Instagram, and Twitter have become the hub for businesses to showcase themselves and generate traffic. Using such social media platforms has become a way in which businesses and individuals can reach a wide audience quickly and efficiently.
During the Festive season, the amount of traffic on social media greatly increases. By having your business on such a platform, you can make more and more people aware of your business motif.
By creating a place where you can showcase your products and make your target audience more aware of your promotions and offers, you can increase your overall sales. This is more prevalent if you have festival centric products and services that grab the attention of the users.
2. Hiring Influencers for Promotion:
Social medial stars and influencers are the new craze. Getting some of these influencers to promote your business can give a great boost to your sales and growth. Influencers have a wide fan following. By sponsoring and partnering with them, you can reach a wide demographic of people. Through this, your business can receive cross-promotion and get more and more people to visit the business website and engage in your services or products.
Also, with the aid of such influencers and online presences, your business image will improve making it more likely for the sales to also increase.
3. Special Offers and Discounts:
One of the best ways to attract the attention of new users is to give discounts. During festivals, people are more inclined and interested in buying new things. By offering sales and discount prices in services and products, you can appeal to customers that look for opportunities to get a ‘good deal’. Having offers like ‘buy one get one free’ or special add-ons to normal products during festive times can greatly boost your sales and help grow your business.
You should always remember that the customer comes first. The more satisfied a customer is with your services, the more likely they are to recommend your business to others and themselves come back time and time again.
This is a prime method of generating goodwill with the masses which is key in growing a business.
4. Have a Festive Theme:
People are always attracted by themes and decorations. By having a theme in accordance with the festival, you can attract more customers. At times, simply handing out offers may not be enough. By dedicating the time and effort to give your business a makeover for the festival can help boost sales considerably. This can come in the form of flyers, special themed videos, and infomercials to even decorating the business branches and/stores be more festive.
Decorating your business to showcase the current ongoing festival will allow people to get to know your business better. This also shows that you and your business have a sense of community and trends.
The main aim is to make potential customers inquisitive about what your business has to offer. Having a festive theme will help achieve this objective. The more people are curious about your business, the more likely there are to purchase your goods.
5. Ad Campaigns:
Advertisements and endorsements are the bread and butter of boosting sale and growing a business. If you are a fairly new business, you can take a small business loan which can help you put out specialised advertisements that showcase your business.
By taking a simple online business loan on sites such as lendingkart.com, you can make a custom festive advertisement that showcases the company’s goodwill.
Advertisements can be used to establish new offers that your business is launching specifically during festive times.
6. Sponsor Events:
During festivals, there are a lot of local events that take place in the spirit of the holiday. Large groups of people all over gather in such events to splurge and enjoy themselves. By sponsoring and supporting such events, you can gain infamy among the people taking part in the event. As a sponsor, you can also set up a booth where you can display your products which people can purchase.
By setting up stalls in local festival events, you can also increase your sales for the month by a lot.
With the help of a business loan, you can sponsor multiple events at the same time or for different festivals which can greatly help increase the amount of coverage your business gets at the same time boost sales revenues considerably.
7. Limited-Time Offers:
Curating special limited time offers during festivals is one of the best ways to boost your sales. People are constantly on the lookout for new and exciting offers during festivities. By having offers like festival sales and discounts on bulk purchase, you can capitalise on the festive wave and have more people take interest in your business.
If you are a new business, then having festive limited-time offers are a great way to introduce yourself to potential customers which will help grow your business in the long run.
One of the key aspects of growing your business is to satisfy your customers and leaving an impact on them. This makes your business memorable to them which makes them come back for more purchases in the future. During festivals, giving takeaways and on the spot rewards are a great way of leaving a positive impact on customers.
If you have a stall or a booth during a festival, adding one or two free takeaway gifts on top of the purchased goods will help leave a good impression on the customer.
People like it when they get more than what they paid. Giving simple takeaways like gift cards and coupons that customers can use in the future can help increase sales for a longer period of time.
Giving free items can become a hefty investment but this can easily be funded by taking a small online business loan. As people come back to your store for more, you will automatically increase sales and have a greater profit margin.
9. Increase Interaction:
During festivals, everyone will be on the streets. This makes it a great opportunity to interact with clients and customers. Following up with loyal customers and pitching new and exciting offers to new ones will help secure a following. People will remain invested in your business and will be more likely to recommend it to others.
The most important thing in any business is the customer. The customer is king. During festivals, people are constantly looking for ways to get better deals and offers. Communicating with your customer will make them aware of all the deals and new products/services you have to offer.
10. Pre and Post Festive Promotion:
Festivals are a golden opportunity for businesses to boost their sales and experience growth spurt. But to optimise sale and growth during the festive season, you need to be prepared beforehand.
Letting a potential buyer know beforehand about your festive offers will help them look for your store explicitly. Advertising the upcoming sale or offers for the season through website updates, social media and advertisements will help customers know exactly what to look for when the time comes. Using social medial like Facebook, Instagram and Twitter is a great way to get the news out about your upcoming deals and contact information.
During the event and festive times, be sure to take photos and videos to post them on your business website and social media. Taking testimonials and signatures of customers will also help you get a proper understanding of what is needed to further grow the business. Even after the festival ends, offering post-festive deals like clearance sales can give you an edge over competitors and make your business more attractive to customers who may not have approached you during the festive season.
The festive time is a prime opportunity for all businesses to step up their game and build their sales revenue. So, taking a business loan before such times and being fully prepared can be the break you need. The generation of sales and growth of business requires funding. If you are a small business, then applying for an online business loan is the fastest way to secure the required finances.
As festivals are a yearly occurrence, you can consistently use the festive season to boost your sales and steadily grow your business.