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The holiday season presents an opportunity for equipment vendors to enhance their sales, make space for new inventory, and wrap up the year on a high note. During this festive time, small business owners actively seek enticing deals. They are prepared to invest in quality new and used equipment, machinery, vehicles, and other assets to support their operations.
However, standing out in today’s fast-paced and competitive marketplace can be challenging for equipment vendors. With a multitude of options available to business owners, it becomes essential for vendors to adopt strategic approaches that effectively differentiate their offerings. If you own and operate an equipment vendor business and are looking for tips to boost your holiday sales, this article from Ameris Bank Equipment Finance is for you.
Review your inventory counts for the holidays.
The holiday season is an ideal time to review your vendor business’s inventory counts. Taking the time to delve into your sales reports can reveal insights into your product performance and demand patterns. Additionally, if you use inventory management software, it can provide an overview of your stock levels.
Identify the equipment that usually experiences higher demand during the holiday season, and evaluate whether you have enough in stock. If needed, reach out to your manufacturers and distributors to determine if you can order fast-selling items in advance to ensure you’re prepared for the busy holiday period.
Run a holiday sale.
Business owners are more likely to purchase equipment when they feel they are getting a good deal. This tendency is particularly pronounced during the holiday season when there are more discounts and promotional offers. So, consider offering a limited-time offer on the equipment you sell. This might be a specific percentage discount, such as 10% off, or a fixed-dollar amount reduction, such as $500 off the regular price.
Next, if your lot or showroom has inventory that hasn’t sold well this year or has become obsolete, launching a holiday sale can help close deals and free up space. By reducing prices on your slow-moving items and promoting limited-time discounts, you can spark interest in your inventory and attract customers seeking great deals.
Get the word out.
Once you have decided on a specific holiday discount or sale for your equipment vendor business, you need to promote it. The good news is you can do this with a limited budget and minimal time constraints. Start by using social media platforms to reach your audience. Develop eye-catching posts that highlight your equipment deals, include images or videos of the equipment, and write informative captions.
If your equipment vendor business uses a customer relationship management (CRM) system equipped with an email marketing feature, you have a powerful tool at your disposal. Email marketing can be used to promote your holiday offers and sales and generate repeat business. Just ensure that each email you send has an opt-out link to comply with the CAN-SPAM Act.
Finally, don’t forget to highlight your special holiday offers and sales on your company website. Consider creating a dedicated section that outlines the various equipment sales, discounts, and bundles available during the holiday season.
Give your showroom a festive look
Holiday decorating isn’t just for businesses in the retail and hospitality sectors. Holiday decorating can turn your equipment vendor showroom into a destination and create a positive customer experience. You can easily transform your showroom with vibrant decorations, twinkling lights, and seasonal accents that bring warmth and joy.
A vibrant and festive showroom not only enhances the space’s visual appeal but also contributes to a more positive atmosphere. This can improve your sales managers’ morale and encourage better customer interactions, leading to stronger sales performance.
Offer in-house equipment financing
Small business owners seeking to invest in the equipment you sell may have reservations about pricing or their unique financial situation. A practical solution to address these challenges and encourage them to move forward with a purchase is to offer in-house equipment financing.
By offering flexible financing options—such as equipment financing or equipment leasing—you can alleviate their financial concerns and make the investment more accessible. This allows your customers to focus on the growth and success of their operations.
Ameris Bank Equipment Finance stands out with its industry-leading equipment vendor financing program. Our program features an easy online application process, competitive rates, flexible terms, and fast turnaround times. We also offer private label financing and an online sales management system.
Leverage Section 179 as a holiday sales tool.
Section 179 of the Internal Revenue Code allows businesses to deduct the cost of qualifying equipment in the year it is acquired and placed in service. The deadline for Section 179 deductions is midnight on December 31. Therefore, the holiday season is an excellent opportunity to encourage customers to make purchases before this year-end deadline. By doing so, you can drive holiday-season sales.
It’s important to understand that every business has a unique financial situation, which affects eligibility for the Section 179 tax deduction. Various factors, such as the type of equipment purchased and the business’s year-to-date expenditures on eligible equipment, can determine whether a purchase qualifies for this deduction.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.