Business can be a tough one, some months may hit new ROI records, while others are not as successful, but it’s important to know what to do during the months that aren’t so great, and how to turn them into a positive outcome without risking detrimental financial loss.
If you want to know how to increase sales when business is low, carry on reading…
1. Market Effectively
Marketing is key when business is low, it can attract new customers and clients to your business that might’ve forgotten about you, or never discovered you to begin with.
Using marketing strategies and applying SEO/PPC techniques and publishing PR pieces are great ways of developing your marketing techniques, getting in front of a new audience and potentially initiating more business.
It’s occasionally worth offering reductions on your products/services to tempt more customers, or buy something, get another thing at a discounted rate can be beneficial too. Undoubtedly, you don’t want to lose money at a time when your business sales are low, but offering backstock or services that don’t have high expenses to run could be just the boost your business needs.
2. Listen to Objections
When it comes to your business coming to a halt, it’s important to ask yourself why?
Why are people not buying? Why is my website not receiving any clicks?
It’s also just as important to listen to the objections that people are throwing at your business. When it comes to sales, most will voice why they’re not interested in your services, if the issue is that your services are priced too high, it may be worth you reevaluating your price list. Similarly, if customers feel like they can’t trust you enough, then gathering customer testimonials and making your site more personable may be the way forward.
Asking fellow colleagues or business people for feedback can be highly beneficial, as they will be able to give you relevant constructive criticism and may see something you don’t which could be the key to getting your business booming.
3. Optimise Online Presence
Building an online presence is a brilliant way of increasing sales when business is low, as most people use online shopping as their preferred shopping method.
Creating great content that showcases your services will attract a wider audience and make your account more shareable, which will increase customer traffic and hopefully, business turnover. Utilising your team to create content and posting engaging videos and graphics is usually very low-cost as the majority of these things can be done in-house.
Generating the right content will get the attention of potential customers, promote your business and gain more traction for your company.
4. Stay in Touch
When business times are tough, it’s important to stay in touch with your customers and network. Sending out regular mailers to those subscribed to your newsletter, having a content schedule for your social posts and keeping active on your website through blogs and articles, are all great ways of keeping in touch.
Creating assurance for your customers that you are still there is great, and it may remind them to engage with your business and services. It’s important to keep some communication routes open for loyal and returning customers as they’re the ones that sustain the business and implement direct customer service options for customers.
Business can get tricky, especially with the rising cost of living and the current financial crisis, so we hope these steps will help your sales increase when business is low.
Have you thought about how much your business may be worth?
Use our FREE Valuation Tool to find out now.
Get quick and easy insight into the real value of your business, without any obligations.
At Intelligent, all our experts use a specific formula that will give you a free and highly accurate baseline valuation so that you've got a figure to work with that most realistically resembles the value of your business.