It’s that time of year again… Q1! The holiday season rush is over and many businesses are scrambling to figure out why things aren’t converting like they were just 60 days ago. In today’s article, I wanted to share a few techniques you can apply to your business to get things cranking again while you wait for the next natural booming season.
Just think about what’s happening to the majority of your reach during this time of year. We all just went through Christmas. This time of year, even if not a Christian, is a time where we buy presents. By the end of Christmas, everyone is broke.
Then, here comes New Years. This holiday signifies a renewal for a lot of people. They set their new year resolution and are pumped about the results to come from their efforts. This is a great mentality for buyers to take action on impulse buys… But, it’s been 2 months now since those resolutions are set and the motivation for most is more than likely gone.
Just a few short weeks after the new year comes Valentine’s Day. For any couple, this is another expense coming from their pockets. It’s not as big a hit as Christmas, but it’s another important date they are probably saving up for and not spending excessively elsewhere.
As you can see, Q1 is an extremely unfavorable period of time for most businesses. The buyer environment just isn’t there like it was in Q4. Well, no need to worry. This is a normal occurrence in the year. The good news is we are almost half way through Q1 and getting to the much better portion of it. Double good news is that I’m going to show you a few things you can do to keep things steady throughout your rough periods of the year… they will happen!
1 – Go Back To What’s Worked
Often times, we are bouncing around from campaign style to campaign style… from product to product. In a 3 month period, our entire marketing and advertising plan can change drastically… especially if you play with Facebook. Well, try going back to what has worked for you in the past. Take a look at what you were doing before the holiday season. What products and systems produced quality results for you then?
Go back to the drawing board and relaunch the winners that were producing results for you back in June of last year or earlier. Many times, products die out from our advertising and marketing… give your audience a bit of a break from those winners, and they often pick right back up to when they were booming.
I have around 10 products from Q2 of 2015 that we were’t advertising any longer due to their success dying out mid last year. We relaunched those as normal this past month and a positive ROI is going strong for each of them now.
2 – Use Built Assets
If you’ve had any bit of success with sales, then you have some form of asset being built along side those conversions. When it comes to us advertising t-shirts on Facebook, there are multiple assets growing… a buyer list, a social media fan base, custom audiences…
These assets can be used in your down periods… and your up periods… to boost income tremendously. If you’re not utilizing your email lists, you’re missing out on tons of gold. If you’re not constantly dialing in your advertising with custom audiences, you’re missing out. Use the assets that you’re already spending money on building. They can change everything. You wouldn’t believe how often an email list has saved my month.
Another big asset to take advantage of that comes with being in the game is your network. Affiliates and joint venture opportunities lie all over the place. Contact one of your associates and provide their audience with some of that super quality you’ve got. You’ll get a huge influx of sales and new leads that only grow the asset effect.
3 – Focus On Filling Gaps
Everyone of our systems is missing something. There’s a gap somewhere that when filled could produce higher returns for the exact same amount of work you’re doing today. This is an important piece of your business you want to be constantly improving.
Q1 is a great time to take a step back and look at those gaps. What can you do this next couple months to remedy those issues? Those fixes alone could produce huge advancements to your business.
Let’s take our e-commerce stores for example… 2016 is all about going authority. We found a great rinse and repeat system for ecom stores in 2015 that we crushed with. We built a ton of great stores and were able to gain powerful assets…. But, our brands aren’t producing enough authority. So, I’m focusing on those gaps to bring my brands in that direction.
We’re focusing on improving delivery times. Instead of one off drop shipping from China like before, we are bulk buying and branding packaging for all our products. We are constantly searching for better fulfillment vendors to help with margins. Another big area we are improving is the customer support line we have. Instead of just an email system to help customers, we’ve recently added in a Live Chat and phone support. It’s these type of gaps that can easily add big boosts to your system.
4 – Try Something New
Nothing working for you in Q1? Then try something you haven’t done before. If WC ads in the mobile newsfeed are what worked for you big last year, but have yet to produce any results in 2016… then, maybe it’s time to try out a CTW ad… or maybe even a RHS ad placement.
Like mentioned above, the system changes often. So, it’s a good idea to constantly be testing what’s taking off. Even if a certain style didn’t work for you months ago, it could be a viable option today. A small test never hurt anyone… that’s for sure!
5 – Prepare For The Next Lucrative Phase
Much like the slump Q1, other periods of the year are guarantee to produce results. Christmas for example always produces great numbers and conversions. People are going to buy almost anything it seems during that time of year. There are many more periods throughout the year that you can prepare for now so that when they come about, you get paid!
For example, I prepare each year for Halloween. For 9 months of the year, it produces very little profit. We focus on building assets that are going to be ready for the season though when it comes. We get in their face and show them their options now. When September rolls around, I have assets to nail hard and it’s much like a Christmas season for Halloween lovers.
I have 1 special time of year for each quarter that I focus on so that when slumps to come, I always have that back up punch I know will produce.
Hopefully, this will help you guys get rolling again just in time for the much more lucrative Q2. If you have any questions or comments, feel free to leave them below…