7 Ways to Keep Your Business going in Slow SeasonsPosted by Factor Funding Co. on October 16, 2014
Slow seasons can be a business owner's worst enemy. These few weeks or months can mean sluggish sales, plummeting profits and little growth that could make your business less competitive when customers finally start returning to buy your products or services. When you want to keep your edge all year long, you can use these strategies to keep your business going and minimize the worry that comes with these periodic dips in sales and profits.
1) Run off-Season Promotion
You may be well versed in the value of running promotions during busy sales seasons. However, promotions can also keep your business alive during slower periods as well. In fact, most of your customers will appreciate being able to save money regardless of the time of year. They, like you, may be keen to stay on budget and keep as much money in their bank accounts as possible.
With that, you can pleasantly surprise your customers and entice them to keep visiting your business when you run promotions during slow seasons. You will give them an incentive to remain interested in your products or services, and you will likewise keep your company afloat until business starts to increase again.
2) Use Online Programs to Filter and Set Emails
Email remains one of the best ways to reach out to your clients. Even so, you may have little time each day to devote to composing and sending out these electronic communications. When you want to maintain a viable email system, you can use online programs designed for busy business owners like you to filter and set these communications for you.
For example, if your business has a new sale coming up soon, you can use one of these programs to send out the emails on a specific date to all of your customers. Likewise, if a portion of your clients do not wish to receive sales promotions, you can use the program to send out these notices to only those individuals who are interested in these kinds of communications. An online email program can help you keep your business steady during slower seasons.
3) Diversify Your Products and Services
One of the best ways to maintain steady business is by diversifying your products and services. If your company specializes in making seasonal items like cookies, candies or flower bouquets, for example, you could expand your products to include other goods that are commonly in demand throughout the year, such as greeting cards, candles, gift baskets and coffee mugs. Being able to offer a consistent line of products that people can use regularly will help you bring in money throughout the year while also allowing you to maintain the initial products or services upon which your company was founded.
4) Offer Annual Programs to Clients
Being able to serve your clients during times of emergencies or crisis may be vital to your company. However, you can maintain a steady income all year while also helping your clients avoid crises and unnecessary expenses by offering them annual programs suited for their needs. An annual program will help you bring in money each month without making you dependent on busy seasons. It will also help you establish a constant connection to your customers.
5) Reach out to Clients
Your customers know that you will be there during the busy times of the year when your products and services are in demand. However, you can keep your business going by reaching out to your clients during slower times as well. Letting them know that you have other products and services that they normally do not request can help them realize the full range of your company. You will also provide them with the opportunity to expand their interest in what you have to offer them.
6) Cut Costs to Save Money
Along with expanding, diversifying and reaching out to customers, you can also save money and maximize your profits by cutting costs whenever and wherever it is possible to do so. If you can combine tasks into one and eliminate a staff position, you can save money on your payroll and bring more money into your business. Likewise, if you could order less of a certain product or cut back on using some of your supplies, you also could save money for your business.
7) Reorganize Your Business
Sometimes it is easy to get caught up in routine. This complacency, however, actually costs you more money than necessary. When you want to keep your business afloat during slow times, you can reorganize your operations and find ways to streamline your production in order to maximize your profitability. When you find opportunities to conduct your business better, you can reinvigorate your company and anticipate bringing more money in for you and your employees.
Being dependent on busy seasons to make money for your business can actually be detrimental to your overall success. You can keep your business going and remain profitable and successful by using these strategies during slow seasons.