01 Sep Bounce back to business
If you’re experiencing a slow down, or you’re expecting a slow down later in the year, here are some thoughts on how to put the spring back in your step when sales are slow.
Quiet times are a great way to pick up market share. If your business is slow because your customers aren’t spending then keep marketing, you need to make sure that when they do spend, they choose to spend with you. By working against the grain you have a good chance of catching your competitors snoozing.
Discounting your price cheapens your offer and can have long lasting effects. Why? Dropping your price can create the impression that the product wasn’t worth the price they have been paying and trains customers to expect they never have to pay full price. If you have to stimulate demand on price consider giving the offer a reason (e.g. ‘early bird special’), reducing the value of the product or introducing a lower value product to your product mix, bundling the product (e.g. 2 for 1) and so on. For more ideas contact Shout.
Forget about new customers, for now
Focus on your existing ones. When times are tight and the focus isn’t necessarily there, it’s going to be difficult to capture the attention of brand new customers. What can you do? Make sure your database is up to date, think about what’s holding your customers back and put in place a strategy to overcome that, consider how many of your customers are actively referring you to others and work out how you can increase this percentage and so on. To increase your word of mouth contact Shout.
As soon as your customers sense even the slightest whiff of desperation the credibility of your ‘we’re working with you’ message will dissolve and they will perceive that it has become all about you. The more your customers perceive you going about your normal business, the more normal it will feel to them.
At Shout Marketing we’ve found the spring in our step and are ready to help your business bounce back. To increase your sales just give us a shout.