How to Get Out of a Sales Slump and Boost Summer Market Share
How to Get Out of a Sales Slump and Boost Summer Market Share
Greg Walthour, Co-CEO • Intero Digital • June 22, 2023
Digital marketing and e-commerce professionals are often all too familiar with the dreaded summer slump. While it’s true that leads and web traffic can experience a dip during the summer months, this trend isn’t an insurmountable obstacle. Rather, it is a challenge to meet head-on as an opportunity to showcase your brand’s resilience, creativity, and strategic thinking.
The first step in addressing this challenge is to identify the root causes of the summer slump, as well as the common mistakes that brands make in navigating this trend. By doing so, you can implement a strategy to avoid the slump altogether or, at the very least, minimize its effects on your business.
Breaking Down the Summer Slump
So, what are the root causes of this slump? And where do brands often go wrong when attempting to counteract it? Let’s break it down.
Several factors seem to work together to reinforce the summer slump. The season tends to reorder consumer priorities, with holidays, outdoor activities, and family time taking precedence over shopping. Additionally, growing competition, the ever-evolving landscape of digital advertising, industry roadblocks, and unpredictable weather can all add to the difficulties of summer marketing.
In response to this seasonal slowdown, businesses often make the misguided decision to divert their marketing budget to seasons with historically higher ROI, thereby shrinking their summer marketing investment. This, combined with the rise of ad-blocking technology and heightened privacy concerns, may further limit the reach and efficacy of summer marketing campaigns.
Operating under the assumption that a quieter period warrants a marketing hiatus, businesses unintentionally decrease brand visibility and customer engagement. This can make bouncing back after the slump an uphill battle. Others falter by stubbornly clinging to their tried-and-true strategies, despite these tactics not necessarily aligning with the specific behavioral shifts of summer consumers.
Taking a step back, we must ask ourselves: Is this summer slump an inescapable challenge or merely a perception problem? Brands that view the summer slump as a stumbling block may be failing to see the full scope of the opportunities that lay in this challenging time.
Summer Slump or Strategic Opportunity?
The lull that summer brings presents both a test of endurance and an opportunity for forward-thinking brands — it’s the perfect time for brands to showcase how to gain market share. While many businesses reduce their marketing efforts during this time, the summer season presents an excellent opportunity for brands to engage customers effectively. With targeted promotions, businesses can drive sales and cultivate deeper customer relationships, emerging as a stronger player in the market.
Beyond summer, seasonal business trends can affect your brand throughout the entire year — from post-holiday downturns to extreme weather changes and the looming threat of a recession. It is essential to be aware of the impact of these trends and adapt to them confidently, building agile strategies that can shift with the changing tides to remain competitive, responsive, and resilient at every turn of the market.
The slower business months also offer businesses an excellent opportunity to experiment strategically and lay the groundwork for future marketing cycles. Rather than treating a summer slump as a roadblock, brands can embrace this time as an invitation to learn how to get out of a sales slump with innovative methods.
10 Tips to Make the Most of Seasonal Business Trends
So, how can you leverage this as an opportunity to grow your business this summer? Here are our tips for success:
1. Focus on SEO.
SEO should be a year-round strategy, but it never hurts to go the extra mile during the summer. While your competitors might be on a summer break, take the opportunity to double down on your SEO strategies and gain momentum in search rankings. Optimize your website, content, and keywords to rank higher in search results, ensuring maximum visibility and attracting summer shoppers.
2. Develop targeted marketing campaigns.
Highly targeted marketing campaigns tailored to capture the attention of consumers can be a great benefit during the summer season. Incorporate summer-related themes, imagery, and messaging into your marketing campaigns, allowing you to resonate with your audience’s summertime mindset. You can also emphasize the unique value propositions and benefits your brand offers specifically during the summer months, showcasing why customers should choose you over competitors.
3. Offer seasonal promotions and incentives.
Introduce irresistible promotions, discounts, or incentives that align with the needs and desires of summer shoppers. In doing so, you can create a sense of urgency by offering limited-time deals, bundle packages, or exclusive discounts on summer-related products or services. By prompting customers to act quickly, you can increase conversions, drive sales, entice more customers, and convert leads.
4. Form collaborations and partnerships.
Expand your reach and tap into new customer segments by collaborating with complementary brands or influential individuals. Form strategic partnerships with businesses or influencers who have a strong presence or influence during the summer season. By leveraging their audience and market share, you can significantly enhance your brand exposure and gain access to an even larger audience.
5. Enhance customer experience.
Elevate the customer experience throughout the summer season by delivering exceptional service. For example, you can personalize interactions and provide attentive customer support to streamline the overall purchasing process. Offer convenience, such as fast shipping or flexible return policies, to ensure customers have a worry-free and enjoyable experience with your brand. Additionally, positive interactions and word-of-mouth recommendations can help you gain a competitive advantage and increase market share.
6. Utilize social media and content marketing.
During the summer slump you can harness the power of social media and content marketing to engage with your target audience. Start by developing captivating and shareable content that aligns with your customers’ interests and summer activities. Also make sure to utilize social media platforms to run contests, host giveaways, and encourage user-generated content, creating buzz around your brand and amplifying your visibility.
7. Get involved with your community.
Participating in summer events or supporting local initiatives can boost your brand’s standing in the community and build brand loyalty. You can foster a strong connection with your local community by supporting charities or organizations that are active during the summer months. By engaging with the local community, you can cultivate brand loyalty among local consumers and establish your brand as a trusted member of the community.
8. Implement customer retention strategies.
Placing a strong emphasis on retaining your existing customer base can ultimately encourage repeat purchases. Additionally, by implementing exclusive loyalty rewards programs, providing personalized recommendations, and offering early access to new products or promotions, you can foster greater customer loyalty. Having strong relationships with your current customers can also help you transform them into brand advocates and positive reviewers.
9. Leverage data-driven insights.
Utilize customer data and analytics to fine-tune your strategies and gain valuable insights into consumer behaviors and preferences during the summer slump. Start by identifying opportunities, refining targeting strategies, and optimizing your marketing efforts based on data-driven insights. By understanding your customers’ needs and preferences, you can tailor your offerings to their expectations, giving you a competitive edge in the market.
10. Continuously monitor and adapt.
Continuously monitor the effectiveness of your marketing campaigns and tactics throughout the summer season. Collect customer feedback, analyze relevant metrics, and be proactive in making necessary adjustments. Stay agile and responsive to market trends and consumer feedback, adapting your strategies as needed to maximize your chances of gaining market share in a dynamic summer environment.
Ultimately, remember that the summer slump, while challenging, is full of untapped possibilities. Brands that stay proactive, creative, and responsive to consumer needs have the potential to not only survive the slump but flourish during it.
At Intero Digital, we’re always ready to create innovative digital marketing solutions together.