5 Proven Strategies for SMBs to Boost Sales During a Downturn

With the economy in a state of flux, it's more important than ever to make sure your business is ready to adapt and grow. The key to keeping your sales strong during these tough times is by knowing what works and what doesn't. In this post we'll go over 5 proven strategies for SMBs to boost sales during a downturn:

1. Focus on existing customers.
2. Offer promotions and installments.
3. Tweak Your Website
4. Leverage Social Media to Reach New Customers
5. Make the Most of Your Website and Blog

Let's get started!

Focus on existing customers

The best time to focus on existing customers is when you're trying to get new ones. If your small business has been around for a while, there are probably some loyal customers who have been buying from you since the beginning. Try asking them for:

• A testimonial to use in your marketing material and on your website
• A referral to another customer
• Advice on new products, bundles, and sales incentives

Offer promotions and installments.

If you have a product or service that people need, but can't afford the full price, consider offering payment plans in exchange for a higher profit margin on each sale. This will help you retain customers who might otherwise go elsewhere because of their inability to pay up front.

If your product or service can be offered on a free trial basis, you should try that. As the old adage goes, take the pet home for the weekend and see if you like it. If someone doesn't like something after trying it out, that's ok. You just helped refine who your ideal customer profile which helps you narrow your focus for better results in the future.

Improve your online presence.

1. Start posting on social media: Social media platforms like Facebook, Twitter, and Instagram are great tools for building an online presence. SMBs can create business pages on these platforms, share valuable content, engage with their followers, and run targeted ads to reach new customers.

   • A local restaurant can leverage social media by sharing mouth-watering food images, running targeted ads to reach foodies in the area, and offering promotions exclusively to their social media followers.
     
     

2. Invest in SEO: Search engine optimization (SEO) is a powerful way to improve online visibility and drive traffic to a website. SMBs can optimize their website for search engines by creating quality content, using relevant keywords, and building high-quality backlinks.

   • A boutique clothing store can improve their SEO by creating a blog that features fashion tips, using relevant keywords in their product descriptions, and building backlinks from reputable fashion blogs and magazines.

3. Leverage online directories: Online directories like Google My Business, Yelp, and Yellow Pages can help SMBs improve their online presence and reach more potential customers. By creating and optimizing business listings on these directories, SMBs can improve their search engine rankings, increase visibility, and build trust with customers.

   • A landscaping company can utilize online directories by creating a Google My Business listing, encouraging satisfied customers to leave reviews on Yelp, and optimizing their Yellow Pages listing with high-quality images and detailed service descriptions.

Leverage Social Media to Reach New Customers

Social media can be an effective way to reach new customers and build brand awareness. You can use social media to get feedback on your products or services, as well as find out what your customers need.

For example, if you're running a business that sells products online, then consider using Facebook ads to target people who live in specific areas where you want to expand into. Or if your company provides services locally (such as landscaping), consider creating an account on Instagram so that people can see how beautiful their gardens could look with help from you! 

The fastest way to try running ads online is to use a tool like Adroll. It's great for people of all levels of experience, and makes running ads on Facebook, Instagram, and across the web super simple. (we are not affiliated with Adroll, we just think it's a great starting point!)

Make the Most of Your Website and Blog

• Optimize for mobile devices: With the majority of web traffic coming from mobile devices, it’s essential for SMBs to ensure their website is optimized for mobile. This includes responsive design, fast loading times, and clear calls-to-action that are easily clickable on mobile devices.

• Improve site speed: Slow-loading websites can be a major turnoff for potential customers, leading to high bounce rates and lost sales. SMBs can improve their site speed by optimizing images, minimizing code and plugins, and using a reliable hosting service. Try this guide.

• Streamline checkout process: A complicated and lengthy checkout process can lead to cart abandonment and lost sales. Most shopping carts offer a fast checkout these days, but it's important you know if there are any problems. Do a sale yourself to experience it first hand. And review the analytics from your cart about how many website visitors you had, how many added something to the cart, and how many sales you had. This simple conversion percent will give you a focus point to improve.

We hope this guide has given you some ideas on how to boost your sales during a downturn. Remember that it's not just about making more money; it's also about protecting what you already have. The strategies we discussed here can help keep your business thriving even as the economy hits rocky times.