Summer is a wonderful time. Sunshine, vacations, fun…That said, depending on what your industry is, sales may not be as robust as they are during other times of the year, as people are more engaged in getaways and relaxation. So how exactly do you handle the summer slump and navigate your way through it without your bottom line taking a huge hit…Below are some tips and strategies for coping with sluggish seasonal sales.
Time to revisit your online presence. Especially as summer is slower, you will probably have more time to amp up your online footprint. Integrate some dynamic SEO strategies to try and move your company up to the top of the search engine rankings. Spread out on social media and engage with followers. Use the downtime to become more visible to the online world.
Diversify in terms of your market. Perhaps you're a niche market and you specialize in goods predominately sought after in winter. Well, it may be time to come up with something else, something relevant to the summer season. Get creative and brainstorm how you can effectively transform your product into something that is summer-worthy.
_Check out other locations_—maybe even globally. Just because it's the summer season here doesn't mean you're stuck selling in one place. This is a big world and yet it's made smaller by the internet. You can go eCommerce and broaden the scope of where you do business.
If summer sales are hurting you, you can also look into a short term loan or line of credit to keep that cash flow coming. We work with businesses all the time in just this capacity and we'd love to discuss potential financing options with you. Call today to see how First Union can help you deal with that dreaded summer slump.