Every business will experience a slow period when the market for their goods or services dies down, and sales drop. Business owners might be tempted to see downtime as unproductive or wasted time, but there are always ways to make the most of your business during these seasons.
Here are four ways to make sure this time is seen as an opportunity and isn’t wasted.
Take a hard look at your business
When things are busy, it’s easy to fall into a habit of taking care of day-to-day tasks and forgetting your overall business picture. However, slower times are an excellent opportunity to take a step back and reflect if your business is still heading towards its goals, what opportunities or challenges are coming up, and whether it’s time to try something new.
Look at different aspects of your business, such as your marketing and sales, to see if they’re all working together or if it could do with some revising. For example, is your social media account information still up to date? Do you have unanswered emails that you need to respond to? When was the last time you posted on your blog? Does your website need to be updated?
This is the perfect time to take care of the tasks that have been put off for far too long.
Get bold with your marketing
When business is busy, entrepreneurs often prioritise tasks directly related to profits, and other activities—such as marketing—take a back seat. Instead of using downtime to catch up, use it for experimenting with new tactics. Have you tried creating marketing videos? Used Instagram or TikTok Live? Sent out direct mail?
Write your blog and social media posts ahead of time. Strategise your next marketing campaign and commit to posting something on social media daily. If you have time, build up a backlog of posts to have pre-written content when things get busy again.
You can also use this time to learn tips and tricks you may not fully understand. For example, if you like writing your own marketing materials but don’t understand search engine optimization (SEO) or Google Analytics, this is an excellent time to learn about them. Again, professional development now can help you in the future.
Implement new policies and procedures
If you want to make changes in your business, slower times are often an excellent opportunity to try them. This gives you the chance to review the modifications and decide if they work well for you before they cause a problem.
Are you considering changing shipping companies? Would you like a new web hosting service? Are you looking to automate some of your client-facing activities? Make these changes during a slow period to ensure you get a good feel for how well they will work. At least then you can address challenges that arise before things get busy again and you’re left dealing with many upset customers.
Connect with your community
Quieter periods are the perfect times to get more involved with the community and do some good. Find a local organisation that you care about—or that’s related to the work your business does—and partner with them. For example, you could sponsor a seminar or an event or even run a fundraising drive.
This will not only give you something to talk about on your social media, but you’ll also engage customers that believe in purchasing from companies that do good in the community. These days, that’s important to most consumers. According to Forbes, 88% of consumers are more loyal to a company that supports social or environmental issues, and 87% have a more positive image of a company that supports social or environmental issues.
Final thoughts
Remember that business won’t always be slow, so try not to panic when things get quiet. Instead, take the opportunity to reflect on your business, make necessary changes, try new marketing tactics and connect with your community. Doing this can help you make the most of your downtime so your business can rebound more effectively.
If you have some downtime right now, get in touch with us today and Join the Conversation…