Q1 Business Blues & How to Overcome the Slow Season
There is no better time than now, they always say.
Quarter one. A time of dread for a lot of businesses, depending on the industry. November happened, your revenue increased from an average monthly sales trend in Q3, then December arrived. Sales likely increased around the holidays, despite the time off with family, and everyone is happy, the office included.
Then came January. Oh, January.
Q1 is rarely a crowd favorite for most companies. Your valued customers are tired of the sale offerings, the pain of spending their hard-earned dollars on goods & services, and frankly - they’re exhausted from the year. Your associates and B2B clients are slow to the draw as well, with even wholesale coming to a halt since customers aren’t biting either.
Herein lies the problem, the quarter one blues.
This week’s Sip & Strategy is about how to market your business in a slow season and how to even take advantage of it. Grab a delectable beverage, pull up a cushioned chair, and welcome to the Q1 Business Blues & How to Overcome the Slow Season episode.
Infrastructure
So, business is slow. Maybe this is the first time, maybe this happens every year around now. Is this out of the ordinary, or possibly just plain bizarre? Whether you know all the answers or not, stay calm. There is a time for everything…and maybe this season is the moment for you to focus elsewhere in your business.
Infrastructure is a fun word to define, if the politics of summer 2021 didn’t already prove that point. What is the infrastructure of your business? Well, depending on the type of company, there are likely a ton of physical items, buildings, locations, team members, culture…the list goes on. As far as marketing your business in 2023, there is a specific set of things you can address:
Website Updates or Upgrades
You’ve been annoyed with some features on your website. That one form just isn’t converting like it used to. The homepage just doesn’t represent your brand and how you’ve developed. Heck, it might even be you never got around to even building one in the first place. No matter the situation, if you feel like “my company is in a slow season” and don’t know how to overcome it, it might be a great time to fix up the old website.
Google Business Profile
We’ve all seen it. You google a business and details show up, with hours of business, address information, even a bunch of photos showing that the building looks like or the service they offer. That, my wonderful business-minded friend, is the Google Business Profile. If you’re feeling in a slump, use this time wisely to update the information. Does it all match your other listings? Have you posted a photo on it recently? Have you ever posted on your Google Business Profile? Maybe now is the time!
Marketing in a Slow Season
Assuming budget isn’t a hot commodity right now for your marketing efforts, I’ve got all answers to help you get over the slow season hump without breaking the bank. If business isn’t popping, then you probably got some time on your hands to stop and think. For once, you’re not struggling to make it to the next meeting, appointment, or sale. You have time now, which for some especially busy business owners, can be a confusing experience.
Content Marketing. Is now a good time to get more content on your social platforms? Without spending too much (or at all), what type of content can you make?
A New Offer. The trick here, as with all slow times, is to not feel desperate. Consumers can feel desperation from businesses, as we all can; and trust me, it’s not pretty. Find a creative way to give more value to your customers and make sure it feels cool, classy, and special.
Basic SEO. These three letters typically confuse the average business owner, but I’m here to make it easy. One simple way to help increase your search engine optimization is to get more trustworthy and unique content on it. Start a blog, create additional pages, explain your services or products in greater depth. Just don’t ever copy from other websites.
Email Marketing. Everyone likes a good read. Email marketing is known to bring in an average of $36 for each dollar spent. It might just be the right time to dust off the old business contacts, create incentives for users to submit their email addresses, and start email blasting. Make sure the content is what you promised, isn’t too repetitive, and not sent out too frequently. No one likes a nagging friend.
Free or Inexpensive Advertising
The best things in life are free, as they always say (who are they, by the way?). Free checking at the bank, a free extra donut in a baker’s dozen, a free hug from someone in the center square (who’s also coincidentally wearing the words on their t-shirt) - what do all these have in common? They feel great. Everyone likes a little extra for free.
One way you can grab some more revenue for your business is with trades. Many advertising businesses need services or products, exactly what your business offers. Maybe you trade with each other? Personal training at your gym for some on-air endorsements, lunch catering for the staff event in exchange for some website optimization. The list goes on and on. Make a few calls and strike up a deal. Lord knows that the business owner you want to trade with likely in a slump as well.
Another great way to score some inexpensive advertising is with traditional mediums, like television or radio. Most media groups offer killer deals and even include the production of the ads within the cost of the advertising schedule. We’re no different in that medium, at Iliad Media Group, and work with just about any budget you might have available for the month, quarter, or year. Go to our Being Heard Matters page and see how we can help get the word out about your business.
Whatever is best for you, the number one thing is that you don’t panic. Don’t panic buy - or sell for that matter - and try to keep strategic. This may happen again, or it may not. The slow season may go on for a while, or maybe today is its last day. It’s hard to say, but that’s why data is so important. Follow the trends, keep the information on hand, and never give up. Work smarter, not harder, and take every advantage you can get - even if it’s just time to plan ahead.
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