One of the biggest challenges that seasonal businesses face is trying to generate a year’s worth of revenue in just a few months. Luckily, there are certain tactics businesses can utilize to keep the cash flow consistent all year round.
Firstly, it is important that they put in their due diligence after their key season has passed. The off-season for a seasonal business is the time when they need to think creatively, learn about the needs of their consumers, and trial new ideas. Staying relevant is only becoming more essential, as many people are constantly seeking and gravitating toward the latest and most buzzworthy trends.
Therefore, you want to assure that you are doing things to stay fresh in the eyes of the consumer. Here are some strategies a seasonal business can try to stay productive during their off-season.
We live in a world that is always evolving, so if you want to succeed as a business, you have to be able to adjust. Being able to add new products that can serve a new set of consumers can help you grow further, even during your off-season.
This strategy was exemplified by Joe Densieski’s Nu Green Landscaping in Riverhead, NY. Instead of preparing to close down for several months, Densieski announced he was shifting the cold-weather focus of his company from snow removal to becoming a supplier of de-icing products. So, instead of competing with those who had a snow plow, he became the distributor of an environmentally sound liquid de-icing product that doubled his in-season revenue from $150,000 to $300,000.
You have to keep in mind that even though your business is not in-season in one location, it is possible that there is still a demand somewhere else. Jim Cramer, a celebrity stock-picker and CNBC personality said, “there’s always a bull market somewhere,” meaning that while US markets may be down, you can always make money in a foreign market.
Given today’s global market, it is possible to sell products to people in any location. Plus, with the time zone differences, you can sell to people at any time. So, if your season is over in one location, try to seek other locations that can benefit from your services and plan for expansion. One great example of this is if you run a business selling fireworks. Here in the United States, you will see your business flourish during holidays like Memorial Day, Labor Day, and 4th of July. However, outside of those holidays, not many people are seeking fireworks. On the other hand, you can market your business overseas in countries that are celebrating their own independence days and can benefit from your products.
Customer reviews are absolutely essential, regardless of your specific season of operation, as countless consumers base their purchasing habits off the opinions of others. Therefore, you should not hesitate to ask your customers to review your products and services.
Receiving positive feedback and testimonials while they are fresh will give you more detailed and personal results that you can share with off-season readers. Plus, you can also use these reviews in email marketing, blog posts, and social media updates. This content will help you with your off-season marketing and also show customers that you value their voice, increasing their chances of returning to you once you are back in-season.