Momentum - Business to Business Online Magazine MOMENTUM January 2019 | Page 33
Small Business Marketing
Way to Grow When
Business Is Slow
By: Leeanne Lowe
Empire Creative Marketing
[email protected]
The hustle and bustle of the holiday season means hours
spent decorating, shopping, baking and gathering with
loved ones. While this time of year means increased
revenues for retailers, work slows down for many other
industries, as many people take time off and focus on
things besides business. Whether it’s due to seasonal
trends, weather or an economic downturn, slowdowns are
a burden on nearly every business at some point.
While slowdowns bring concern they also offer
opportunity. Slow periods open up valuable time that can
be utilized to focus on your goals and position your
company for growth. So instead of panicking, the next time
business is slow get busy working on your business!
With that in mind, here are five things you can do to
improve your business during a slowdown:
1. Create a strategic plan. A strategic plan provides clearly
articulated objectives and a roadmap for achieving
them. Investing time in creating a strategy is invaluable.
Not only does it help you focus on your priorities and
set the direction for your organization, it gets everyone
on the same page and simplifies decision-making.
2. Market your business. Many companies will cut their
marketing budget when times are slow, which is a
mistake! Successful companies do not abandon their
marketing efforts when times are tough, they take
advantage of them. It’s in a slow economy, when others
are putting a pause on their marketing, that you have
the biggest opportunity to get your brand out there
and get ahead of your competitors. Rework your
budget and enlist a good marketing firm to help you
maximize your marketing initiatives.
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3. Refine your business. There is room for improvement in
every company. Slow periods give you the chance to
reflect on your business model and processes to see
where you can make things better. Perhaps it’s by
getting your files organized, updating your
bookkeeping or streamlining your office procedures.
Smooth systems make team members more
productive, clients happy, and also improve the bottom
line!
4. Team development. Slow times present the perfect
opportunity to further develop your staff members.
There are plenty of workshops and online training
programs that will give your personnel new skills and
make them more valuable to your customers and your
business.
5. Community involvement. While it may be quiet at the
office, there is a lot going on in your community!
Attend a networking event, chamber meeting or
volunteer activity. Getting involved in your community
not only feeds your network and presents new business
opportunities, it allows you to help others and build
your community. Plus, it feels great to meet new people
and make a contribution!
So the next time you find your sales in a slump, get
intentional and get busy! By gearing up and working on
your business, you’ll be ahead of the game and well
prepared to move forward powerfully once business picks
up!