Networking during Slow Periods

In every business there will be a time when business is not at an all-time high. How you handle these periods will determine the outcome of your business when things are moving along better. Don’t close down when profits are down.

--more-->Networking is a powerful tool in the business world. At times it is definitely who you know that makes a difference. But, we are not necessarily talking about the Donald Trump types. The most important people in your business are the customers. Use slow periods to reconnect with them.

What do most people like to hear? They like to hear appreciation. When it comes from a business that they have patronized, it means something. Saying thank you for being a loyal customer is one way to use networking to your advantage.

With fluctuations in the economy, people hold tight to their hard-earned money at certain times and spend more at others. These types of trends are apparent in all industries. Whichever industry you represent, your business is no different. The thing to do now is to court those customers so that they will return when the economy takes an upturn.

Going through your invoices and/or mailing lists will reveal the repeat customers. What makes them continue to return and buy from you? If you don’t know exactly, now is a perfect time to find out. Send each one of these customers a link to an online survey on your website. Offer discounts on their next purchase or an entry for a chance to win a freebie when they complete the survey.

The results will be twofold. You will find out what your customers are looking for in your business and also encourage them to return whenever they feel the time is right. Letting customers know that you appreciate their business is one way to bring them back.

Networking also involves potential customers. Maybe there are some companies whose business you have hoped to snag. All of these names are also present in your files. You may have kept their information for future follow-ups. Well, with business moving slowly, there is no time like the present to do something about it.

Create a business letter to send to these potential clients. The basics of the letter can be generalized such as, “I appreciate you giving our business a look for your needs.” To be sure that the potential client knows that you remember them, add information about when you first made contact and what their interest or concern was about your operation. If they were looking for a business that offered more diverse services and you have since added that component, let them know that in the letter.

Networking is a way to build business relationships. Keeping contact with customers and “the one that got away” can mean future profits during the busy season.