How to Avoid the January Slump!


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Slump: To fall or decrease suddenly and by a large amount … like retail sales in January! The excitement, cheer, and spending of the holiday season is over. A naturally slow time of year, you can almost guarantee that your sales are going to take a bit of a hit during the chilly month of January. Just because this dip in sales is expected, however, it doesn’t mean that you just have to sit back and accept it! Here are some suggestions for how you can carry on the holiday cheer into the New Year and continue to build momentum into 2015.

Start now by asking for referrals & return visits
Take advantage of the heavy traffic and good cheer in December by offering your customers a reason to come again. Announce specials or discounts for those who return in January and bring a friend, or consider “buy now, get something later” deals. These can work to your advantage in both December (buy a gift for someone now, get something for yourself in January), and January (buy something in January, get something special later in the year).

Have a sale
Customers will be expecting you to have a sale early in the New Year, especially if you’re in retail. Therefore you should be sure to have at least some items on special promotion during the month of January. Be unique with your offers or the items you choose to promote and consider what your customers are thinking about this time of year (organizing, health, fitness, and winter activities).

Upsell
Offer the customer an additional or complimentary product or service just before they make a purchase. Take a look at the products that you offer and come up with a few additional items that you could promote to someone just before you complete the sale.

Offer new products or services
A great way to entice customers into making a purchase during an off period is to offer them something new or unexpected. It could be something completely different or just an amended product or service that you already offer.

Don’t cut back on marketing
There is a tendency amongst small business owners to cut back on marketing activities during difficult times. In fact, the post-January slump is one of the periods in which you should consider shouting the loudest about your company. With consumer spending down, business owners need to fight even harder for every dollar spent. This means thinking about innovative new ways to market your business – in January and beyond for a successful 2015.

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