While the retail industry enjoys a busy season during the holidays, the time from November through January usually means a slow season for almost every home improvement trade. People are trying to save money to buy gifts or recover from buying gifts. The weather also poses a challenge to construction businesses as most construction jobs interact with the outdoors. Yet, just because major outdoor projects are slowing down, doesn’t mean your business needs to. There are things you can focus on to keep things moving forward.
Revive Old Leads and Past Customer Relationships
During the busy season, you may be booked for months in advance and selective about jobs you take, overlooking easier opportunities. Go through and contact the older leads in your database with fresh content and promotional deals.
Make sure your website has plenty of calls-to-action for people to stay in touch with you. For example, email list or blog subscriptions. Be sure to feature some exclusive customer offers they can redeem for remaining a loyal customer.
It may surprise you how many leads will reengage from a simple follow up email or phone call. Always try to curate a strong database before the slow season begins. Always continue to work to build up your customer base to carry you through when projects slow down.
Look for Indoor Jobs or Diversify Services
It is important for construction owners to build a strong line-up of projects going into the winter months to keep business open. Interior projects like: painting, flooring, cabinetry and lighting are the more popular remodeling projects during the winter months. Many contractors will also offer special seasonal services during a slow season. Some examples are; holiday light hanging and other home improvement services. Be open to stepping outside the normal services you offer during this period to cater to the changing season and client need.
Manage your Cash Flow
Keep a close eye on accounts receivables, especially if you anticipate getting hit with a slow season every year. To ensure you are properly managing the company’s accounts receivables, set up a process to manage it. We love this guide from QuickBooks on steps to take.
Ramp up Social Media
Take advantage of the slow season by diving into any neglected social media efforts. It’s easy to let self-promotion on social sites go by the wayside. While social media may not be the best marketing tool for every business, that is where consumers are. In the United States, an estimated 185 million people used social media in 2016, a number predicted to exceed 200 million by 2020. (Update: 2.34 billion last in 2018 expected to exceed 2.95 billion by 2020) Not sure where to start? We love this guide for social media for small businesses by Sprout Social.
Start a Referral Program
One of the best ways to win new business is through referral programs. Offer an attractive incentive like a $50 gift card to any client who refers you to a friend sparks participation. Make clear any stipulations like: gift card received upon project completion. Make sure you are promoting it on your website and through email blasts and social media.
We hear from business owners every day asking the same questions about small business financing to address cash flow issues. For more information, check out these answers to the top 5 most-asked questions we get.