7 Tips to Increase Business Opportunity in Diwali Festival

Diwali is an Indian festival of lights that celebrates the victory of truth over lies and darkness. It is one of the most important occasions in India and around this time most of the companies’ spring into action in order to boost their business. Making the most of a festive season can be achieved by following the below-mentioned guidelines.

1) Offers and Discounts

Diwali is the time when people shop for each other. Individuals allocate a massive budget for gifting purpose. You can thus, encourage them to spend on your products and services, and use the same. One way of motivating people to buy from your shop is to launch discount schemes and attractive sales offer that are hard to avoid.

2) Tap Existing Customers

You may already have loyal customers. Diwali is the right time to convey festive wishes and introduce them to new offers, products, and schemes. Many companies send emailers, SMSs, and personal gifts to existing customers in order to urge them to check out the business offerings.

3) Launch a New Line of Product

If you had been planning to launch a new line of the product then there is no better an occasion than Diwali. Anything new and interesting catches the attention of people, especially when they have the ability to spend. Perhaps weave an ad that talks about this new product and festival season to captivate customers.

4) Affiliate Marketing

You can approach your business partners to promote your products through their services, websites, and mediums in exchange of some benefit. This will widen the scope of your business and give chance for new and old customers to better acquaint with your offerings.

5) Take a Loan for Business

If you think your company needs monetary support to improve production and operations, then do consider taking a business loan in Diwali. Banks and NBFCs also offer discounted interest rates on loans during festivals. The funds can be put to good use and help in taking your company services, a notch higher.

6) Run Promotions

Today, in the age of the digital era, it is possible to reach your customers on the internet. The social media channels are the best place to launch a digital ad for your business services. You can opt for paid ads to boost visibility and reach more audience and hope for greater sales and engagements.

7) Sell off Old Stock

You must have heard of end-of-season-sale offers. Yes, on festivals like Diwali, many retail companies empty their old stock of products by selling those off at a discounted price. This way, you can make space for new products and sell the existing stock at wholesale prices. This tactic is beneficial for both the company and customers.

Things to do when boosting business during festivals like Diwali.

1) Have a clear message for ad campaigns, as these will make or break the deal.
2) Do not take on the offensive approach. That is, avoid putting your competitors in the bad light. Rather, focus on the positive points your end.
3) Give freebies and Diwali presents with the products you sell. It will leave a good impression on customers.
4) Launch a special roadshow or event if it suits your business needs, and invite random people around to share feedback on products. You can use this platform to generate sales as well.
5) Last but not least, always take opinions of experts in your firm before executing any programs and activities as their expertise can spell a great difference.

Follow the above-mentioned tips to enhance business opportunity this Diwali, and enjoy the festival to the fullest.

Author Bio: Satchit Hasabnis is a Chartered Financial Analyst who has more than 10 years of experience in the industry.  He co-founded, Loanbaba, which provides quick and easy loans like Personal loans, Education Loan, Business Loans, and Gold Loans etc to people of different economic background.