When sales aren’t as high as you’d like, it’s time to review your marketing efforts. Adjusting while things are slow can reap big benefits to help you recover from the slump and reach or exceed your projections. Here are four smart marketing tips to keep in mind during a slump.
Before you do anything else, consider whether your messaging is on target. Even if the messaging you created for your website, email campaigns, and printed advertising was perfect at the time, businesses change, and so do market conditions. Consider adjusting to promote your latest efforts as well as seasonal offerings and add-ons that your customers may not know about to help boost revenue.
Don’t throw out a good marketing plan just because of a temporary slump. However, if your company’s income drop is impacting your ability to pay the bills, it may be time to consider getting advice on small business financial solutions. A line of credit, for example, could help stabilize your company. Alternatively, your advisor may be able to point out areas where you can cut back on spending. Taking advantage of these services and holding the course with marketing efforts may be the smartest and easiest course, especially if the slump is because of bad weather or other temporary conditions beyond your control.
If your business is heavily dependent on your website for sales or informational purposes, a slump signals that it’s time to review the site. Make content clearer and more direct, make signup forms more prominent, and simplify the checkout process. Increase the prominence of your contact information. Consider adding more images and testimonials too. If you improve your site significantly, promote the improvement to your email list. Check and improve social media accounts too.
In many cases, you can overcome a slump with old-fashioned diligence. Make more sales calls or send more emails, and follow up leads you may have deemed low-quality. Respond to every email inquiry with an offer, even if the contact was for another purpose. Attempt to get additional income from existing customers with upgrade offers, new services, and coordinating products. Offering discounts may allow you to convert hesitant leads or former customers into short-term income generators that can help you get over a slump. Attend trade shows and other events to generate new leads too.
These marketing tips can help you get back on track so you can get on with innovating and advancing your business to the next level. Most businesses have a slump occasionally, but smart marketing efforts can help overcome the downturn.
Bio: Anita is a freelance writer from Denver, CO. She studied at Colorado State University, and now writes articles about health, business, family and finance. A mother of two, she enjoys traveling with her family whenever she isn’t writing. You can follow her on Twitter @anitaginsburg.