Diwali is the ideal time for your business to flourish and double up your revenues as a result. So, how do you plan to go about it? The strategy to make your business do well can vary according to the nature of your work, i.e. whether it’s a trading, manufacturing or service company.
Maybe you’ve already geared up for a Diwali blast by announcing lucrative offers and discounts on your product line and have put up the same on the website and display boards. But this is only the traditional style of marketing, look on the other side too. This is the way to go! Since digitalization is omnipresent, it’s important to pick up pace on e-commerce channels. This is the best way to stand out of the league & grab some eyeballs. You can most certainly double up your revenues during Diwali, but there are ways to drive growth and expansion.
Let’s quickly glance through how you can easily double your business and happiness during the festive season:
- Add to your Existing Product Line
Diwali as a festival doesn’t belong to just one but all businesses equally. So, even the smallest venture has a good chance to scale-up & make profits. So, just add more products and services to your product line and observe how quickly it’s sold in the Diwali season.
The most popular set of products are lamps, lights, electronics, furniture, gold and silver coins, statues, dry fruits, artificial colors, etc. Infact all the Diwali gifts can be added to the list.
The important part is to research which products will be liked the most by customers and then arrive at a suitable price point. It’s best to identify your customer base through market analysis and reach products and services which will bring maximum sales. The analysis are based on the age, gender, buying history of all your customers to plan marketing.
- Expand to New Territories
What can be more auspicious than Diwali, the festival to expand your horizons. The basic need is to market your products properly and then plan selling ideas to new segment of customers. New customers can bring you more business from newer locations specially if it’s a retail business.
And since it takes a lot of investment and time, a thorough market research is important. Once a new business is opened, you can have monetary gains by marketing the same through different communication channels. And if your funds do not allow opening a new location yet, try out an Instant personal loan powered by Home Credit India.
- Target New Customers
Getting new customers can be extremely challenging as it takes extra effort to plan things ahead. It’s the first step towards advertising your product as per customer’s age, gender, and location. It’s also imperative to market them through the right channels at the right time. And if in the middle of it, you’re financially stuck, then a quick Home Credit loan can be beneficial.
And specially when you’re selling through the Diwali season, focus on products/services which accentuate peoples’ Diwali celebrations. You can also consider jewelry (including gold, silver coins) or decorative items which are widely sold during festivals.
Then comes the next important thing, finance for expansion. Diwali is a promising occasion that will help you double up your business. And a financial deficit shouldn’t stop you from using this opportunity well. So, its best to avail a quick personal loan and start with Diwali marketing plan at the earliest possible.
Home Credit India offers Personal loan to small enterprises & businesses to help them grow. Our loan approval and disbursal is super-fast and with easy terms and conditions.