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What to Do When Your Business Experiences a Slow Season
T raditionally, summer is a slow season for new sales in the business-to-business world, and this particular downturn is usually at its worst in July. Many factors contribute to slow business months. Most families take trips with their kids, while others leave for quiet vacations with their spouses. And some are just occupied at work because summer is their busy season. Regardless of the reason, it’s difficult for most B2B companies to generate new leads with the same practices that worked months earlier when business was steadily growing. This problem isn’t unique to B2Bs; all businesses have a slow season. Yours may be around Christmastime or during winter, as more people retreat inside to escape the cold. No matter when it happens, no one enjoys it when sales are slow. And for new business owners, this downturn can cause panic. FINDING THE PATTERN During my first few years in this business, I didn’t realize midsummer slow business months were a pattern for my industry. July would hit, and I’d be in full-on panic mode by mid-month. I was running around like Chicken Little, preaching about falling skies and driving my team crazy. When you put so much of yourself into a business, it’s heartbreaking to watch a sudden downfall — until you understand cycles. Now that I recognize this slowdown is just a seasonal issue, I’m left with two choices: Give up or push harder. There are varying schools of thought on this topic that I’ve heard from some really intelligent professionals. Part of me thinks taking action during a slow season comes down to budget and desire for growth, but there isn’t a right or wrong answer. What works for one entrepreneur may not work for another. To find your solution to a budding slow season, all you have to do is use the savvy and expertise that got you this far.
WAYS TO RESPOND How you respond to slow business months will depend on your business. For some, the answer may lie in preparing for the uptick in business around the corner; for others, it involves finding ways to improve their overall business strategy. Personally, my solution is to dig deeper. If you’re like me and want to improve your sales when they normally dip, there is no shortage of strategies to do so. Here are just a few of my favorites. TRY FREEMIUMS. Even if no one wants to buy right now, people still love free stuff. Freemiums are offers for free but limited products. They give customers a taste of what you can do for them while saving the best features for “premium” customers who upgrade to a paid service. Just make sure your benefit proposition is clear to your customers. Providing too few features will cause them to tune out before they get hooked, and giving them too many will leave them unwilling to shell out for more. For these reasons, some businesses prefer to offer free trials instead, where customers can try the product without a fee but pay after a certain period to keep accessing it.
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