5 Ways To Have A Profitable Festive Season
The festive period is always tough when it comes to business, especially for the freelancers, digital nomads and the likes. We have seen the panic plenty at our coworking spaces.
Many clients will lament that they are slowing down, business is slow and “can we look at downsizing our package” or “let’s give it a breather over December”. These are not words anyone wants to hear, but there are ways to ensure your business stays profitable over the festive season. Profitable enough to bring in new work, retain existing clients or to set you up for the new year.
1. FOCUS ON THE 80/20 RULE
This is not the greatest time to be soliciting new business, however, having said that, it is a good time to put your feelers out and get noticed. (see point number 2)
But, the best place to focus on is your existing and past customer base. You really can get 80% of your work from 20% of your clients. So, get stuck into making contact with clients you have done work with in the past, and also remind your existing clients what all you offer.
Often times, they just forget. You know what you do, but they don’t necessarily have you front of mind. So, just give them a little ear pull and send out a mailer or better yet, phone them. You never know what will come from that. You may just be the right person at the right time for them. Further, you may want to invite them round to see where you work – if it’s in a coworking space, invite them for a cuppa java – it’s always an impressive experience.
MARKET MARKET MARKET
You may not think that anyone will read your carefully crafted words and adverts over this period. You would be wrong. This is when things start to slow down on the business front, and when folk start to catch up on the content they have missed out on because they were so busy. So, don’t stop marketing. Keep those social media posts going and keep those mailers humming.
SPECIALS THAT FILTER OVER INTO THE NEW YEAR
People love specials over this time, so even if the Black Friday thing has passed, consider a few specials that will filter over into the new year. Setting yourself up for a good bang into the new year can be just what you need. Something around, “If you sign up now for our package of 6 months, you will get a 10% discount in month 6.” Be creative. Make it tempting. And, watch the interest roll in.
Many get paid early, so be sure to send your invoices out early too. You can even send them out as early as the 20th of the month. Sure, they may not pay you that early, but at least they will be reminded to pay you, so that when their funds come in, you will be front and centre of the queue. If you get paid early, you can pay others early – you coworking invoice, your phone account, etc. and you can keep paying it forward.
PREPARE YOUR MARKETING AND STRATS FOR THE NEW YEAR
Use this quiet time to prepare your marketing and strategy for the new year. Call on your fellow coworkers, whether you are in a sales environment, coworking space, or use outsourcers. A collective and collaborative effort might just pop out some awesome ideas for the new year.