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. 32 MOMENTUM / January 2019 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!