Maintaining Momentum during a Slowdown

Slow times. Many businesses are cyclical or seasonal. While we might be preparing for such times, when they hit, they can bring a variety of reactions or sentiments. Included is every emotion from frustration, apathy to full-on panic.  Taking action is the first step to eliminating these negative emotions and getting   back on track to building momentum.

First things first, get your head right about the down-turn. Realize that if it is due to outside market conditions there might not be much you can do in the near term to shift the course. Alternatively, it might be more temporary in nature. Perhaps you have just cleared your desk for the short term and have a quiet day or two to catch up before work starts flowing back to you. Importantly, in either situation, there are many ways you can continue to be active and stay in front of clients or customers.

Below is a list of ten ideas to keep you moving forward when things slow down.

1. Research a market trend and create a white paper to share with your clients. In a slowdown, everyone is looking for as much information as possible to determine the best course of action. Your personal expertise will be welcomed by your clients.
2. Analyze (and re-tool if necessary) your marketing strategy or a targeted marketing campaign. A slowdown in new business might be the result of a strategy that is out of date or stale.
3. Identify new target clientele – is there an industry or market sector that could benefit from your services?
4. Take a leadership position or active role in a professional or volunteer organization. The value of interacting with others within and outside of your industry cannot be overstated.
5. Schedule a coffee or lunch with a younger person in your industry. What can you learn from their view of the world? Conversely, if you are a younger professional, connect with those more seasoned in your industry.
6. Clean out, organize and update your CRM. This is a great time to create a process driven touchpoint marketing strategy managed though your CRM.
7. Take time to review your recent past successes and setbacks. This is something that cannot be done in the throes of a heavy workload. What trends and similarities emerge upon reflection? What can you do to generate more success in the future? Is there a certain type of business you should accept and another you should decline? What about clients? Are some clients putting a drag on your business? Remember the 80/20 rule and view your clients through that lens.
8. In that same vein of reflection, are there new business lines or strategies the can be implemented in a way that expands your offerings and better serves your customers or clients? Can these be added in a way that does not become dilutive to your core business?
9. Organize an event that brings your best clients together – dinner, social hour, breakfast panel. Find a creative way to showcase your offerings but make it about the client.
10. Look to other industries for marketing inspiration. If you are in a service industry, look to product marketing or a drastically different type of service for ideas to market your offering. While you have the time, slow down and really let your creativity run free.

This list covers the gamut of longer and shorter periods of downtime. Many can be done concurrently. All will keep you engaged with your clients while you ride out a slow period. Leave a comment if you have an idea that has worked for you!