Since we are now well past the halfway point of the year, it is time to start thinking about how you as a small business owner are going to finish the year strong. If your numbers are currently down or even if you are way ahead of last year, below are some simple tips that can help boost or maintain revenue during the last few months of the year.
Stay in contact with clients: Some easy ways to do that are by sending a quick email thanking them for their previous business from earlier this year; reaching out periodically to check in on them to see if they need any additional products/services, and reaching out to notify them of upcoming promotions, sales or events.
To take that a step further, writing them a personalized letter or reaching out via phone call (or even a visit to their site) to thank them for their business and check in on their experience working with the company could go a long way in getting the customer to come back in the future. If you are lucky, you might catch them at the right time where they are in need of additional services at the time of reaching out. You could also include a goodie bag (with pens, notepads, or even t-shirts or mugs) along with your letter to really show your appreciation.
Establish a presence in the local community: Another simple way to potentially increase sales is through holding demonstration events, attending local trade shows, or becoming a sponsor of local community events and then attending those events to mingle with attendees.
Establish a social media presence: Opening a Facebook or a LinkedIn page (or any other social media source) that includes pertinent information on it (such as product/service offerings, contact phone number, email address, areas the company serves, or a link to the company website (if applicable) provides an easy way for potential clients to understand what your products/services are, while providing a way to get in contact with your business, or to leave a review/ask a question.
Offer secondary products/services: If your business has the capability to provide any secondary services that are related to the main mix of services, offering those could be an easy way to increase revenue without spending additional resources on more labor or equipment. Depending on the scope of your business, simple secondary services could include clean up, upkeep, equipment tune up or maintenance services. These services can be done by the person who completed the project originally or you can simply train employees to complete these services.
Open a line of credit/seek working capital: Another way to help ensure a strong finish to the year is by securing some additional working capital through Penhurst Capital’s network of sources. This will give you a source of additional funds that can be used to cover any day-to-day expenses, to launch a new line of services or to cover any other costs related to running your business.
