Wondering why business is slumping?
Why new customers are hard to come by? Why it seems to take longer to get
momentum on growth again?
You stopped advertising
This is a big mistake made by
smaller businesses who are more susceptible to cash flow problems than bigger
ones. Business was good, so you stopped advertising. You didn't seem to lose
any momentum for months, so you assumed that the advertising wasn't what helped
you grow in the first place and you never took it again. A year later, business
is trending down again and that's because you stopped actively promoting your
business. Advertising isn't some vending machine where you put in a coin and
out pops a customer. It takes time between seeing an ad and someone acting on
it. So it's hard to track that customer who came through the door back to where
they found out about you. Even if you ask them.
You stopped talking about your
business
At some point in the journey of
having a small business, you stop talking about it to friends and acquaintances.
And that's quite natural. You don't want to be THAT guy who is always repeating
the same stories over and over.
But when you stopped talking about
your business, you stopped that valuable word-of-mouth in your network of
friends, family and various acquaintances. We're not talking about hard selling
to your mates. We're talking about dropping in mentions about what's going on
in your business. After all, I guarantee they're talking about their jobs.
You stopped being excited about what
you do
It's the usual course for a business
owner. At start-up, things are nuts, you're about to go broke and you are
loving the rush. After a few years, the rush dies down and you're in
business-as-usual land. There's nothing new happening and nothing to get excited
about.
Business has become about fixing
broken things, seeing accountants and paying bills.
There is no single way to get
excited about your business. But you can try adding a new product, expanding in
to something you don't do now, or even just trying out a new concept for
advertising or marketing.
When it comes to getting yourself
back in to the game, you may need to do some reading of books, articles and
magazines to get ideas for what others are doing to reignite the momentum in
their business.
I am digital media marketing manager at TraffMagic have an experience of almost four years in online marketing and how to expand your business online.
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