Seasons change, and with them, variables within businesses. From retailers who experience seasonal fluctuations to service industries which experience cyclical spikes in business, how companies address the varying needs of the businesses throughout the year can make a big difference in the brand’s bottom line. Online marketing firm, fishbat, discusses understanding seasonality in your online business.
Seasons change, and with them, variables within businesses. From retailers who experience seasonal fluctuations to service industries which experience cyclical spikes in business, how companies address the varying needs of the businesses throughout the year can make a big difference in the brand’s bottom line. Online marketing firm, fishbat, discusses understanding seasonality in your online business.
There are a lot of factors to consider in business seasonality. Depending on the type of business, seasons could impact staffing needs, inventory flow, operational changes, and of course, marketing. The key is to know the different factors at play, how to understand them, and the best course of action to address them.
Most business owners after a couple of years in business are familiar with staffing need changes they may experience at different times of the year but often struggle with the best way to adjust staff size in a way that is fair to employees and beneficial for the business. Today’s digital marketplace thankfully has resources to address this in a low-overhead manner through the use of chatbots. For online businesses who struggle to balance fluctuating traffic flow with appropriate staffing levels, AI can be a money, time, and aggravation saver. AI helps to ease the burden of high volume seasons through the use of conversational technology. Simple analytics will show revenue peaks and lulls to help with estimating staffing needs. Investing in AI such as chatbots makes businesses more prepared to handle volume despite staff size for digital commerce.
Staffing is just one piece of the puzzle, however; a deep look at yearly and seasonal analytics will paint a clear picture for online businesses about seasonal patterns. Search engine analytics, such as Goggle analytics, highlights information such as seasonal trending keyword searches within industries, traffic spikes, and more. Online businesses who employ the use of third party analytic programs, social platform analytics, and other means of gauging data such as traffic flow, search query trends, conversions, and other key performance indicators, then have a much more detailed look at their business throughout changing seasons. Combining this information provides a clear snapshot of seasonal trends and helps companies make the appropriate decisions for inventory, marketing fund distribution, and responding to consumer behaviors at different times of the year.
These statistics can help online brands to dig deep when it comes to refining efforts seasonally. A vivid picture of the business can help brands identify wins and opportunities in metric achievements throughout the year to adjust their tactics accordingly. For example, during the holidays, online retailers may experience a traffic spike but a conversion dip. Detailed analytics can pinpoint that issue so that brands can adjust their strategies and processes. That retailer can take that information and adjust conversion driving factors such as CTA placement and design on social media posts, change forms or checkout processes on websites, and change direction in digital marketing to include more pay per click ads during high volume seasons which drive a higher percentage of qualified leads than free digital outreach.
Understanding seasonality in your online business can be easy with the right analytic tools and technology implementation. Using an online marketing firm can help businesses to understand seasonal information better and respond to it through the website, social media, and digital marketing strategies. Remember that understanding is just half the battle; it’s what you do with that understanding that can make the difference in your bottom line.
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