Dealing with business peaks and troughs
Does your business suffer peaks and troughs and is there anything you can do to smooth out those peaks?
Like many businesses I can sometimes suffer from quiet periods, but in general our business is pretty constant during the year. We do notice that the periods just before the summer holidays, and just after the summer holidays are busier than others but we don't really suffer from the massive seasonal swings some businesses do.
If your business does suffer from peaks and troughs what can you do about it?
First you need to identify if your business has a 'genuine' seasonal element to it - for instance a 'Pest Control' company is always going to be busier during the summer months, and Restaurants and Bars at their busiest during the lead up to Christmas and New year.
For a seasonal business, it is obvious that you want to maximise your opportunity during your busy period. From a marketing perspective that means being ready for those busy periods, communicating with your customers and prospects about your services, making sure they are aware of what you do and what you are offering, IN ADVANCE of that busy time. Mailers, flyers, advertising, posters, should be promoting your business to make sure you get the most out of your busy season.
But what about a seasonal business during their quieter periods? It is essential that you let your prospects and customers know what you have to offer during those quieter periods - this might be backed up with discounts, offers or different services. Again the key to maximising your potential during the naturally quieter times is marketing to your customers and prospects.
The key to any marketing is preparation and timing and you should be ready in advance of your anticipated quiet (or busy periods).
But what about if your business is going through peaks and troughs but there is no real seasonal element to it. What is the cause?
I have dealt with many businesses that suffer from business peaks and troughs. Some big and some small and the issue usually boils down to one key issue - Inconsistent marketing!
Some companies market when they are 'quiet' because they 'need' to generate more business, the marketing then works and they go into a busier period, and for various reasons stop marketing, often because they are too busy, and so sales die down again. This is a cycle I have seen time and time again. Good companies market constantly, which prevents the peaks and troughs, generates more profit and makes it easier to grow your company.
If you would like to discuss how we can make your marketing materials stand out please get in touch with me today.
We provide a full suite of products and services to help you promote your business including ...
- creative design
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- signs and banners
... and more. Please call me now if you have any questions at all.
KEITH 01324 613636