Ways to grow when sales are slow
Every business has downtimes, even slumps and periods where sales completely dry-up. The greatest danger is that many businesses are unable to recover from the slide down to these sales-barren valleys, as it is hard to find resources and easy to lose motivation to re-climb the money mountain. Do not lose hope as, fortunately, there are numerous techniques to re-ignite sales during slow times that could even grow your business in exciting new ways.
Here are 5 I suggest:
1) Create new options of what you sell
Whether this involves new products related to what you sell or variations that adapt to your customer’s preferences. For instance, a tea company offering seasonal flavours such as Iced Tea in Summer when people prefer colder drinks. An ice cream parlour near me that sells Donut Coned traditional Hungarian Chimney’s cleverly promotes their ‘Chimney Hot Dogs’ in winter and also offers unique holiday ice cream blends like Candy Cane or, uniquely, Eggnog.
If the product is not seasonal, focus on new items you can offer to upsell or cross-sell.
2) Run a contest
During slow times, you must increase engagement with your brand. Running a contest or giveaway via social media and your email Newsletter helps generate welcome noise when times are quiet. Tip: In the contest you offer, require entrants to share with at least 1 other friend or on their social media page so that you attract new customers and traffic to your site/store.
As with running a contest, offering promotions can also reverse the slow period. A special Sale, Free Shipping promotion, Discount Codes, or Complementary item(s) with purchase, are all great strategies for attracting sales.
4) Re-design your business and marketing strategy
Slow periods are opportunities to reflect and gain clarity on your marketing approach. During busy times it can be tricky to keep your ducks in a row, so now’s the chance to re-organize and get your books in order. Devote more effort and time to engage and build-up your social media following as well as design targeted ads. With more time to breathe, you can better identify and resolve any issues with your business.
5) Re-engage former customers
Many businesses are built on their loyal customer base. Never forget former customers, and quiet times are a great time to reach out to them. You can communicate through a newsletter or social media to let them know of anything new with your brand or simply ask how they are enjoying your product or service. You can also send them a special discount code, exclusive for them as former customers. Tip: Emphasize that this code expires in a month, so these customers are likely to use during your slow period.
There are many other strategies to overcome slow periods in a business, however these are 5 that you can use to both boost sales and improve the strength of your brand.
Wishing you all the very best of luck,