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Guest Column by: CETYS University
The first step a small or micro-business should take to craft a successful holiday strategy is benchmarking—an in-depth study of competitors, mentioned the CETYS Expert.
Mexicali, BC. – The holiday season is filled with all kinds of promotions and discounts, as businesses capitalize on this time to boost sales and attract new customers. While this may be easier for large corporations, it doesn’t mean that SMEs can’t implement strategies to benefit as well.
Dr. Bardo Agustín Limón Félix, coordinator of the Strategic Marketing degree and Marketing Lab at CETYS University’s School of Management and Business, Mexicali Campus, explains that benchmarking is the first step for small businesses. This process involves a thorough study of competitors to understand best practices in the same segment.
“This would be the first step: investigating, learning, and understanding what others are doing while reflecting on what I’m doing and how I’m doing it. For this, small businesses have a key ally: their customers. It’s crucial to talk to them, understand what they expect for Christmas, what they’re looking for, and what kind of products they would like to see offered during the season,” added the CETYS Expert.
The second step is planning. This can start with sales promotions, which include all efforts to generate immediate sales. Examples include in-store events, raffles, contests, promotions like 2-for-1 or 3-for-2 deals, product demonstrations or tastings, and even workshops like “Learn to Paint Your Room Better.”
For the holiday season, promotions can be themed to connect with customers. When implementing sales promotions, it’s crucial to choose the most appropriate option and effectively communicate it to customers. This final step, communication, is the third key step.
“It’s not necessary to be present on every social media platform or channel. What matters is being where your customers are, as that’s how they’ll connect with you.”
A powerful tool SMEs can use to achieve these goals is Artificial Intelligence. This technology is now accessible to everyone, even for free. Tools like ChatGPT or Gemini can help generate creative ideas for attracting customers or designing effective promotions. AI not only delivers fast and precise responses but also helps structure and execute strategies to increase traffic and sales for nearly any type of business.
Finally, businesses should return to research once the promotions are over and the season concludes. This is the time to evaluate results using customer relationship management tools like CRM software or even something as simple as an Excel spreadsheet. Tracking key customer data, such as purchase motivations, times, and dates, helps make more informed decisions in the future. It’s also helpful to ask customers for feedback on promotions and how to improve them. This creates a feedback loop that ensures future campaigns are better tailored to customer needs and expectations.
