As companies prepare for the upcoming holiday season of discounts and sales, there are a few essential things to consider regarding your company and its holiday sales bookkeeping! Here are three things to remember during the “season of giving {discounts}”!
Let’s think wise this holiday season by creating discounts that will bring in business after the sale season has come and gone. One specific way to do this is to provide a discount code via text only when the customer inputs an e-mail or phone number. This helps create a direct line of communication between the company and its patrons beyond one sale.
Doorbusters are another great way to prolong the sale season. What if you provided a different product as a discount each day for seven days with free shipping if you spent a minimum amount? This could increase the traffic on your website, which can create a habit for consumers to review your company's site, especially if you keep the discounts continual for multiple days.
Often, we get asked what the best discount is for a company to use during this sale season. While it would be nice if there were a one-fit answer, it depends on the company and the profit margins that need to be met. A buy one, get one 50% off sale is the right fit. However, that could be a sale that would cause a loss for another company. Perhaps providing “bonus bucks” to use later is the right fit for your company or a storewide discount. The decision needs to be based on profit margins and what is best for the business.
For all these reasons, using a professional bookkeeper ensures that a product or service discount is still creating a margin appropriate to generate revenue. Don’t do this alone! Many companies do not surround themselves with people who specialize in the financial aspects of the business. A bookkeeper’s job is to track these critical margins and trends to help guide a company into financial success while still giving the customer what they want... a discount!
If you have not already decided, this is the season to gift your company a year full of financial bliss by hiring a professional bookkeeper to guide it to its most successful fiscal year yet!
Are you interested in learning more about ShoreSource Business Solutions, LLC?
Feel free to reach us at 843.729.2961 or info@shoresourcebiz.com.
