The lull comes for us all.
You’ve been riding high on a wave of sustained growth and business opportunity, but now that yearly cooling off period is upon you and you’re not sure what to do with yourself. If your company has been around a few years, you probably know when to expect it. Since we’re a branding and design firm in Dubai, we’re well familiar with the occasional business dropoff. You’re not alone here!
Every fiscal year has slow points: those times when your agency just isn’t pulling in the business you’re used to. For whatever reason, be it holidays or changing seasons, you just don’t have as much on the docket as you’re used to and maybe it’s making you a little concerned and stir crazy.
Well, first of all, rest easy in the knowledge that business will pick up again.
In the meantime, how can your business benefit from the added free time? How do you use your free time wisely?
Here are some good ideas…
We’ve said it before and we’ll surely say it again: Clearly understanding your target market and customer is a huge step in the right direction, and one you should always be taking. Profiling your customers by age range, demographics, income, family, and company will ensure you’re pinpointing their needs with consistent accuracy.
A keen understanding of your customers means you won’t have to constantly be second guessing your approach to them or their needs. You’ll be able to focus on what’s important to them rather than constantly wondering what’s important to them.
And once you’ve got that down, now is a great time to focus on…
With a lull in your more lucrative business, it’s the right time to get your business seen by as many people as possible. Consider more social media avenues that engage potential clients, as well as targeted advertising that can hone in on customers with precision.
Consider new approaches to email marketing that make existing clients want to open your newsletters rather than trash them. Tailor your messaging to highlight the benefits of your products or services during the slow season.
As you’re building up your marketing impression, you should also…
Get Ready for Peak
While you’re waiting to catch the next big wave, take advantage of the time between to prepare for it. If you’re well prepared to maximize your revenue and productivity, you won’t have to worry so much about it all turning into a total shitshow when business is booming. The last thing you need during a crunch period is a machine that is slowly grinding to a halt while the gears fall off.
Make sure your staff is trained up and ready for action, and audit your process to look for pain points and inconsistencies. The slowdown could be the best thing for your business if you’re getting prepared for the crazier time that’s coming.
In that same mindset, it’s always a good idea to…
Trim the Fat
Are there currently areas where your business is bleeding money with little or no result? Now is the time to nip those trouble spots in the bud, not when you’re too busy to devote time to it. Evaluate your processes, identify areas for improvement, and implement changes that can reduce costs or enhance productivity.
We’re not talking about a mass layoff here, simply seizing the opportunity to refocus where needed so your business is more well-prepared for future growth.
With that in mind…
You’ve got a great staff, but there’s no reason you can’t push them to even higher levels of success! During slow periods, investing in training for your employees is a great way to continue your upward momentum.
Train your employees in other areas adjacent to their specialities to help foster a multi-faceted environment where your people can more ably assist each other during peak times. Having a professional, self-sufficient staff that is both confident and advanced will increase your retention and team spirit.
They’ll know you care about them and be more inspired to give you their best work.
Slow season is a great time to see what works and what doesn’t because you’ll actually have the opportunity to adjust accordingly! So don’t simply cross your arms, shake your head and worry. Seize this moment to optimize your business model, focus on pulling in new clients and prepare for when your business will pick up again.
Because it will.