Here are some inexpensive solutions to increase your cash flow this spring and summer.
With Old Man Winter kicking off, small businesses can increase cash flow this spring and summer by implementing four affordable marketing tactics while spending very little, including using community events, partnering with complementary businesses, launching a spring promotion, and tailor-made sales messages to include spring solutions.
Think about what annual spring and summer activities your city sponsors and promote around them.
For example, say you are a personal trainer. Consider hosting a spring fitness program to coincide with your city’s summer fundraiser. Your news item might read: “Running the 5K Yankee Homecoming Race? Don’t go it alone. Start your workouts with other race participants every Monday and Wednesday morning at 6:30am. We meet at Smith’s Field for 20 minutes of calisthenics, followed by a short run, gradually working your way up to a 5K. The cost is only $195 for six weeks. Call Jane Doe, personal trainer and founder of Fit for Life at 000-000-0000.”
The big advantage of this marketing tactic is that the municipality takes care of increasing the awareness of the event by placing banners in the city, advertising, publicity, etc. You simply join the awareness.
Collaborate with complementary companies
As a small business owner, you can make bigger sales moves by partnering with other small businesses.
For example, a professional coach, makeup artist, professional organizer, nutritionist, hair stylist, personal trainer, personal chef, and fashion expert could join forces and co-market a “Life Makeover” seminar. Each was able to speak for about 45 minutes about their expertise and how participants can achieve their personal best. Plus, you now have seven additional customer databases to draw from and an annual event that helps you build more credibility year after year. In fact, you just added another income stream to diversify your income.
Launch an action
Create a spring and summer action. They can be the same, but if possible I recommend two different promotions. More activity often leads to more urgency.
I categorize spring as late March to late May and summer as early June to the first week of September. The idea behind your promotion is to reach your customer before they start their “emotional” summer vacation. Most of us still have to work, but somehow we tend to take an emotional vacation from June to early September.
The key to any promotion is creating a unique offering, something you’ve never offered your customers and that your customers haven’t seen from your competitors.
Increase the success potential of your promotion by including an end date of late May, which adds to its urgency. Then let a week, maximum two, go by and launch your summer promotion at the beginning of June.
Customize sales messages
As the seasons change, consider how your customers perceive your products and services. They may falsely categorize your products or services as “out of season,” reducing your sales. Instead, take control of your sales messages and position your solutions according to the time of year.
Suppose you are a grocery service. Summer may or may not work in your favor. However, it is your job to develop your marketing messages to include seasonal services. For example, you can promote a babysitting service while clients are on vacation and include planting, lawn, and pool management.
Or let’s say you are a personal coach. Summer lends itself to a break from improving emotional well-being and usually shifts to a physical focus. Having said this, try introducing a very aggressive coaching series. For example, launch a promotion in mid-April that will keep your customers in July and August; however, also offer two floating appointments so your clients have the extra flexibility they need in the summer.
Disclaimer: The content on this page is for informational purposes only and does not constitute legal, tax or accounting advice. If you have specific questions about any of these topics, seek advice from a licensed professional.