3 Tips to Improve Fourth Quarter Sales
The spring and summer months provide remodeling contractors the opportunity to offer many home improvement projects, but the year does not end once the warmer weather is over. Despite declining temperatures and diminishing daylight, there are still numerous homeowners looking to improve their homes—and just in time for the holidays.
What’s the bottom line? The fourth quarter is when you should refocus your efforts in order to finish your sales year off strong. Here are some tips to help boost your fourth quarter sales:
Plan for 10% or More Than Your Goal
Now is the time to analyze your sales year-to-date and reevaluate your sales goals for the fourth and final quarter. Will your fourth quarter goal help you meet or surpass your sales goal for the year? If not, then you may need to put a new goal in place. Regardless of what goal you establish for your fourth quarter, plan to surpass it by 10%.
The holidays can bring excess business, but they can also create unforeseen obstacles. Plan ahead by blocking out holiday dates on your calendar, including vacation days that your employees have requested. Don’t be blindsided by days that your sales or installation teams requested off weeks or months ago, and plan your sales strategy based around their availability through the holidays. If you plan for 10% or more than your set sales goal, then you should be able to weather the holiday chaos.
Target Your Most Active Customers
If you use email marketing or social media marketing strategies, then review which 20% of followers and subscribers are driving the most traffic to your business. What do these customers have in common? How can you categorize their demographics (i.e. their likes, dislikes, and preferences)?
Once you’ve identified these “target” customers, create a special marketing campaign centered on their attention and interaction. Offer special promotions to these active customers in order to boost your sales during the fourth quarter.
This may also be a good time to take some time to reconnect with other target groups that may not be generating as many leads and sales. However, the bulk of your time spent on fourth quarter marketing efforts should be geared at targeting your high potential customers in order to close more sales. Get these customers involved in your business, whether by offering insider deals or inviting them to special events such as a holiday party or award ceremony.
Reinvigorate & Incentivize Your Team
The end of the year is fast approaching, and your sales team may feel like now is the time to relax and take a breather. Once you’ve evaluated and reestablished your sales goals for the fourth quarter, update your team and find ways to use this time to train employees.
Take some time to offer training on the promotions and offers you will be extending to your newly-targeted customers. This is also an opportune time to hear from your sales team. Address their concerns, but more importantly, listen to their ideas. They can provide insight you had not previously considered.
With the holidays around the corner, put into place some incentives for your team to incite end-of-the-year motivation and effort. Holiday parties, a year-end bonus, and raffle prizes are some basic, yet effective, incentives you can utilize during your fourth quarter push.
The year is not over yet. Be sure to assess your goals, adjust them if necessary, and focus your efforts to not only meet but surpass your fourth quarter sales for a strong finish to a great year.
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