The holiday season can be a double-edged sword for small business owners—it can bring a flurry of sales or logistical chaos. On this episode of The Small Business Show, Gene Marks, renowned columnist, author, small business expert, and CPA of The Marks Group, shares his blueprint for thriving during the holidays.
From staffing strategies to leveraging social media, Marks breaks down practical, results-driven tips to help entrepreneurs navigate this pivotal time of year.
Gene Marks begins by addressing the two critical aspects of holiday preparation for small businesses: employees and customers.
For employees, he emphasizes the importance of early scheduling to manage time-off requests and the heightened demand during busy seasons. Marks also highlights the significance of consistency in end-of-year bonuses, advising business owners to budget ahead to meet employee expectations.
On the customer side, Marks explains that preparation is key, noting that many of his successful clients plan major holidays, like Christmas, up to six months in advance. For some retailers, he reveals, Christmas can account for 50% or more of their annual sales.
Using examples like Mother’s Day promotions by restaurants and gift shops, Marks underscores the value of tying holiday-specific offers to customer interests, such as discounts or free trials for moms at fitness centers.
However, he cautions against blind spending, advocating for meticulous tracking of promotional costs and returns. “It’s great to say you’re celebrating Mother’s Day,” Marks says, “but it is not so great if you’re losing money on it.” He advises testing campaigns on a smaller scale before scaling up based on proven success.
Finally, Marks touches on the power of social media, recommending platforms like YouTube for high ROI on paid holiday campaigns. He urges businesses to allocate a dedicated ad budget to ensure visibility, emphasizing that relying on organic posts is rarely sufficient.
“Holiday promotions are a risk, but smart businesses minimize that risk by testing campaigns first and tracking every dollar spent versus earned. It’s not about gambling but about calculated strategies yielding results.” – Gene Marks
