There’s no doubt you have clients who sell products online, so why not show your expertise as a trusted advisor and help them prepare.
Whether it’s Cyber Monday, Black Friday or any other cyber holiday, here’s 10 tips to help them capture more sales during these special events.
1. Boost your voice
Email loyal customers to promote cyber deals. This will put your clients front and center so they don’t get lost among the competition. If they include product images in their emails, hyperlink back to the Amazon product page for easy conversions.
2. Enhance product photos
Give the most popular product pages a facelift, ensuring photos are high-res and clear. In addition, be sure the logo is visible on each product page. Here are some additional tips for DIY product images.
3. Get social
If your clients are active on Facebook, Twitter and Instagram, they should start posting a few times a week. Remember to use hashtags so buyers can search and highlight the promoted products. Also, have them maximize their outreach by cross-promoting all sales channels.
4. Offer special deals
Make it worth their customers’ while! Consider providing free shipping in addition to other deals. Offering a 2-for-1 deal on self-fulfilled products can boost Average Order Value metrics. Find out more about the metrics they should be tracking.
5. Think big
Just like you batch your own accounting jobs, life can be made much easier by having clients batch labels, batch printing and batch shipping during cyber holidays. The last thing they want is to get stuck processing and printing labels on one of the busiest shopping days of the year.
6. Stock up
Now is not the time for low inventory or just-in-time orders. Even if your clients don’t cut prices or have big deals, any cyber holiday should bring more traffic to their ecommerce store. Make sure top-selling products are well-stocked and if this isn’t their first cyber holiday, have them review historical sales data to help anticipate demand. You too can help them review their numbers.
7. Alert the accounting team
Extra sales can complicate tax compliance. Be sure their point-of-sale system is set up with the most up-to-date sales tax rates and product taxability rules. Verify how tax applies to 2-for-1 deals, coupons and returns, as well as shipping, handling and gift-wrapping services.
8. Treat yourself
During cyber holidays, encourage your clients to keep an eye out for deals their own business could use. In addition, help them know which purchases may qualify for a sales tax exemption or self-employed tax deduction.
9. Use cyber holidays to restock inventory
Take advantage of cyber holiday deals to restock inventory sold across multiple channels. Here’s a tip: Summer heat can cool down retail sales. Consider offering cyber holiday deals on purchased inventory during slow times. Here are other tips to beat the summer slump.
10. Know where FBA inventory is stored
As an Amazon seller participating in the Fulfillment by Amazon (FBA) program, your clients should know when their inventory is moved and where they have a responsibility to collect sales tax. They can find out where inventory is stored with this FBA inventory report tool.
With forethought and preparation, as well as timely guidance from a trusted advisor, cyber holidays can boost any online business.
Gail Cole is a Senior Writer at Avalara. She’s on a mission to uncover unusual tax facts and make complex laws and legislation more digestible for accounting and business professionals — or anyone interested in learning about tax compliance.