How to Increase Holiday Season Reorders
‘Tis the season to up your reorders and sell off what you own!
You don’t want to be stuck with old inventory, so take this opportunity to ensure your retailers are well stocked for the holiday season.
Deloitte’s annual retail holiday sales forecasters predict 2015 holiday sales to increase between 3.5 and 4 percent over 2014’s holiday buying season, climbing to between $961 and $965 billion. This is a solid increase from the 10-year 2.5 percent average — expected to be 19 percent of annual sales of $3.2 trillion.
Are you grabbing your piece of this holiday pie?
It’s already December, and the competition is hardly leaving a crumb to spare. Hopefully, you’ve had your fat slice and are ready for seconds. In this analogy, your second piece is in the form of a big helping of reorders.
NuORDER users can increase holiday reorders in a few simple steps:
It’s rep rally time!
If you’re in a management position, use NuORDER’s robust Reporting feature to filter by sales rep. See who’s getting fat on the holiday buying season pie, and who’s settling for crumbs. Try setting up each rep with an individual bonus or target for a strong December performance.
Sales reps: you need to be constantly going back to the table for seconds. Vigilantly watch for available sweets by logging in to NuORDER daily and filtering your Reports by best-sellers, store, zip code and state.
You can also use the Custom Reports feature to create a filter to see who’s been reordering and who has not.
Determine & discount
When it gets closer to the end of the holiday buying season, it might be time to consider offering promotions to avoid being stuck with excess inventory.
First, determine the inventory you need to unload, and decide what promotion is going to maximize your position.
For example, buy four and get one free is often better than 20% off, as you are moving five units instead of fewer at a discount.
Discounting is never ideal. Get creative to ensure you maintain your brand and company value. For example, consider offering extended payment terms or free shipping first.
Next, start promoting to your buyers on your NuORDER splash page.
Targeted or not, here they come
If you want to target specific buyers, use the Reporting feature to view who has previously purchased the products you want to unload.
See who has bought products you have on-hand and ensure the retailer is fully stocked. Buyers who don’t reorder might need be enticed by a promotion.
Next, create custom linesheets with the products for the buyers. You can send your linesheets to one or many buyers using the bulk mail feature.
According to Mendez, “I compose my own linesheets with the styles and categories I want and send them as EZ Orders. My buyers love the fact that they don’t need to login to use it.”
“My buyers love the fact that they don’t need to login to use EZ Order.”
– Denise Mendez, Urgent Gear / Civil Society
A short note goes a long way
Send a personal message with the linesheet, and be sure to push the discount in the subject line.
Mendez says she has a much better response when stating the promotion in the subject line: “I get a better open rate when I write that there’s a promotion or discount in the subject line.” She goes on to mention that the “promotion needs to be significant” for a large response.
Mendez advises emphasizing a closing date for the discount, stating: “I get a far better response when I state there’s a closing time to receive the discount — it creates urgency.”
“I get a far better response when I state there’s a closing time to receive the discount — it creates urgency.”
– Denise Mendez, Urgent Gear / Civil Society
Follow up with a phone call
NuORDER allows you to see when a buyer has opened and viewed your email and linesheet. This feature provides you with the opportunity to make a timely phone call.
According to insidesales.com, response speed is crucial, and if you contact your prospect within five minutes of viewing an email you have sent you are 100 times more likely to have contact!
Mendez says her success rate goes up when she both emails and calls buyers, saying “I find it helps a lot to follow up with a phone call.”
What to do with what’s left?
After Christmas, run a report to see what inventory remains. Follow the same process as above.
For those products that you really want to get rid of, such as broken size runs, Mendez says she has success when offering a better promotion than before Christmas. She again emphasizes the power of stating the promotion in the subject line of the message that accompanies the custom linesheet.
Pop the champagne and ring in the New Year with a belly full of holiday season reorder pie, a clear inventory and an even clearer mind!
PS: Check out the short tutorial below for a visual walk through of the process detailed above: