Anyone who runs a business knows that there will inevitably be slowdowns that occur from time to time. Whether it’s a seasonal slowdown or an overall economic decline: sometimes customers disappear, sales go down, and overall business drops. Don’t panic, it may be a blessing in disguise. It’s the perfect time to evaluate what’s working for your business and what isn’t. There are 3 key areas business owners should focus on when business slows down:
These events are often a great source for sales opportunities and you just never know what kind of relationships you can form with other like-minded people. While networking may not be what you want to do when you’re already stressed over business being slow, these events may be a great opportunity. It’s not difficult, it’s just a matter of putting yourself out there, you never know who you might meet.
This should always be high up on your priority list. Marketing doesn’t only keep your business visible to your consumers, but it forces you to constantly think about the benefits and positives associated with your business; something that can help any business owner through tough times! It may not be possible at the time to allocate large funds to marketing, but there are always inexpensive and creative ways to stay in touch with your audience.
This is the most inexpensive way to connect with a much larger audience than would normally be available through traditional media. Just like marketing and networking, social media is an excellent area to focus your attention. It’s all about engagement and content. Customers today want an interactive experience with the brands they’re supporting, by giving them unique and informative content; you can turn shoppers into loyal customers.
There are multiple things that you can do when business is slow to help raise brand awareness and keep your consumers engaged. These will ensure that when consumers are once again ready to part with their hard earned dollars, your business will be first in mind.
Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.