4 Strategic Actions To Take When Business Is Slow

Let’s face it. Every business encounters a low sales period, whether it’s seasonal, during holidays, or just plain sporadic. It’s quite normal to experience both, busy and slow times as a business owner, but it’s crucial to embrace the slow period instead of crossing your arms and ignoring it. This is an essential time to put towards your own business and improve it wherever possible.

Chances are, you’re not able to interpret what is causing the slow period but here are 4 simple ways you can get the ball rolling again:

1. Find ways to improve your online presence

There are various ways to achieve this. If you have the budget, hiring an SEO (Search Engine Optimization) Expert or a Digital Marketer could really benefit your business. This could help drive more traffic to your site and convert to leads. Note, it’s important to have an easily accessible and well designed website or the traffic brought to the site may not follow through.

If you don’t have the budget, there are free alternative options that could also benefit your online presence. Although these methods may not be as effective, they can still increase your chance of driving more traffic to your site. Since your typical user will use a search engine to type in what they are looking for (as opposed to the exact web address of a company), it would be a good idea sign up for the sites below as they have a chance of placing on the first or second page of the search engine results.

Google My Business  |  Yelp  |  HotFrog

2. Reach out to previous contacts/clients

Following up with clients can never cause any harm and always results in a win-win situation. Asking a client how everything is going with the service/product you sold them may remind them that they could require your help with something or require one of your products, or worst case scenario they’ll be grateful you took the time to follow up and see if they had any questions.

3. Revisit your brand

It’s essential to occasionally revisit your brand to see how well it’s actually reflecting what you sell. Perhaps you have introduced new services or products, or expanded your team and your old branding strategy no longer portrays what you really stand for. I’ve also seen many situations where clients overlook the importance of their brand, spend $10 on a logo, slap it on a business card and website template and go on their way. It’s important to take note that if you’re not reaching the right audience you could end up negatively affecting your business.

4. Network

In my opinion, networking is a crucial part to any business. Although I have this listed as an action to take when business is slow, I’d also highly recommend networking during all times, even at your busiest. Most connections do not lead to sales right after a networking event so it’s wise to make it a habit, even on a monthly basis. The more connections made, the more people know about what you offer, allowing more opportunities to arise.

Putting time into your own business is always worth it, and these slower periods are a prime time to be used productively to further improve and/or refresh your business.

Know any other entrepreneurs? Feel free to share this post to inspire other business owners during these slow times.


Leave a reply

Please wait...