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5 Tips For What to do When Business is Slow That Will Increase Profits

Posted Feb 27th, 2019 in Media, General, Insurance Tips, Commercial Insurance, Did You Know?, In the News

It’s common for businesses to experience a lull throughout the winter months. We’ve shared the best ways to potentially make your business more profitable during that time.

What to do When Business is Slow That Will Increase Profits, Youngs Insurance, Ontario

Regardless of when your slow time is, there are things you can do to improve business success.

We’re sure that most business owners would agree that there’s always something to do, even when business is slow during the winter, but, will those activities increase profits?  

5 Tips That Could Make Your Business More Profitable This Winter

1 |  Get Social

Social media is one of the best ways to engage with customers and stay relevant.  When business is slow, work on your social media accounts and, if you don’t any, create some!  Most social media platforms are free to use, so think of them as a free marketing tool. Post helpful tips regarding your industry, pictures of your business, client stories and write blogs that pertain to your business. Utilizing social media is a great way to stay connected with clients and attract new ones!

2 | Get With The Program

There are many programs you can incorporate into your business, such as loyalty and referral programs.   Loyalty programs are extremely helpful with enticing clients to keep coming back; clients love the rewards they get!  Referral programs are also great because they reward the clients who already like and use your business. This is a win/win situation – you’ll reward your loyal clients and draw in new ones!

3 | Become Socially Aware

Being a socially aware company is great for your business and your soul!  Find local charities that need some help, whether financial or hands-on.  This a great way to give back to the community and get your exposure for helping your community.

4 | Teach A Class

Depending on the type of business you have, hosting a class can be extremely beneficial. It allows you to attract potential new customers that are already interested in the product/service you sell. For example, if you own a bakery, you could teach a baking class or, if you own a flower shop, you can teach floral arranging.  Opening your doors is a great way to stay engaged with customers and make you more profitable.

5 | Stay Ahead Of Promotions

We recommend having marketing ideas mapped out ahead of time so that you aren’t trying to juggle too much at once.  If you make a plan for the year while business is slow and do the leg work for the year you will not miss any promotions even during your busiest time of year. Another helpful tip would be to gather your team and ask them for their marketing ideas. Not only will this help empower your employees; they might also provide you with some great concepts to try!  

We hope that our marketing recommendations help your business become more profitable during the winter months.   

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