[ad_1]
Key Point
- Businesses are not exempt from making New Year’s resolutions.
- A business plan is not a wish list. Review your business plan from time to time and execute your business plan intentionally.
- Offer promotions and introduce new products to your clients to welcome the new year.
Millions of Australians are keen to make New Year’s resolutions. According to a survey conducted by Finder, 73% or the equivalent of 14.8 million people have set their goals for 2024.
Just as people set personal goals, businesses need to set their own goals for the new year. Home-based baker and entrepreneur Marichelle Evangelista’s goal is to have a business plan in place within a year.
A business plan is not a wish list
“It is customary for business owners to set goals and make plans.
“But at some point (within the year) they tend to forget.
“No matter the situation, it’s useful to review your business plan and try to implement it. Otherwise, your business plan will end up being a wish list,” says Evangelista.
No price increase in January
In addition to her business plan, she has also decided to postpone any price increases on her products until the new year. In fact, Evangelista’s tradition is to postpone the event until March because it coincides with the anniversary of the founding of her business, The Weekend Ensaymada, which she has been running for four years.
Although January is considered a non-peak season as most of its customers are still on vacation, Evangelista offers a variety of promotions.
She offers discounts on some of her high-end baked goods. That’s enough to tide her over until demand for pastries stabilizes. This is also a way to thank your customers for their patronage.
Evangelista said: “This is our way of saying thank you to our loyal and repeat customers and making sure they look forward to January when they can purchase our products at affordable prices.”
Apart from that, Evangelista continues to streamline the process and services for ordering products online. This includes automated checkout and payments, which go hand in hand with efficiency.
A strategy to increase efficiency is to assign staff to various selections or standard boxes.
How to increase enthusiasm among new and repeat customers
Evangelista offers some ideas for other entrepreneurs who want to keep patrons interested in their products in the new year. these are:
· Lay out a promotion offering affordable pastry sets – Considering the high cost of living, any discount will be appreciated by both new and loyal customers.
· Evaluate promotion effectiveness using data-driven measures – Even the best performing or less marketable products can be monitored through data. This will lead to future promotion success.
· Add new flavors to your current pastry menu – This gives you a little variety and options from the usual specialty ensaymada.
· Introducing new products that are easily available to customers – Evangelista added brioche cinnamon scrolls, cake in a tub, and other Filipino breads, to name a few.
[ad_2]
Source link
