What to Do If You're Losing Business
Has business been slow lately? Is there less foot traffic coming through your doors these days? If you are nodding along, don't panic! There are ebbs and flows in every business, big or small, which means that you need to figure out why you're ebbing right now. There are many ways to go about this, but the sensical approach is to go direct to the source - your clients. How can you conduct valuable research to help you get back on track and get business hopping again?
Up-Close And Personal
Sometimes the old-fashioned methods are the ones that work best. If you are a charismatic person and aren't afraid to approach people, consider indepth interviewing of your customers. An idea is to offer some kind of incentive to them as a thank you for finishing the interview (10% off a product, etc). This is your opportunity to ask your customers to their faces what it is that they like, dislike, or think that your business could improve upon. Some sample questions might be:
What is your favorite part about coming here? Your least favorite part?
Is there anything about your experience here that you wish was different? Please explain.
Would you recommend us to your friends or family? Why or why not?
It's quite interesting seeing what customers have to say, and incredibly valuable too. Since you are seeing your company through the lens of a business owner, it's difficult to see what the customers are experiencing as patrons.
If you're not too keen on the idea of a face-to-face interview, think about sending out an email survey. Offer the same incentive to get them clicking, but this takes the pressure off of both of you, plus it allows them to finish on their own time.
Hashtags and Buzzwords
There's no denying that social media is a giant in the marketing world. Likely you have social media accounts for your business, so put them to good use. Do some market research of your own and take a good look at your followers.
What are they liking and retweeting/reposting?
Is there something common that you keep seeing on many different people's pages? (A picture, a hashtag, a buzzword, etc)
Is your brand being mentioned anywhere online? In what context?
You can learn so much from simply observing what your customers are interested in. Remember though: When you try to reach your audience, don't be that cringey company that uses social media all wrong. You are better than cheap jokes and tasteless comments, so please exercise caution. You want to attract publicity, but not in the wrong way.
Read Your Reviews
You are probably already heavily invested in your Yelp and TripAdvisor pages, but if you notice a slowdown then you'd better read your most recent reviews. If someone has put you or your business on blast then it could have a hearty impact in the flow of your customers. If there's a negative review among the ranks, remember to be courteous and professional in your response. Yes, you need to respond to all reviews, not only the good ones. Here are some tips for replying to a tough review:
If you're at any sort of emotional height, wait to respond. Angry, abrasive replies to bad reviews only prove the person behind the keyboard right, so rise and wait until you're in a clearer state of mind. This is a reflection of your character and how you handle bad business.
Acknowledge any wrongdoing and apologize instantly. This can be difficult if you don't think you were in the wrong, remember the dogma that the customer is always right.
Do what you can to make it right, and offer to take it off of the internet and contact them personally.
Getting to the bottom of a business slump can take time, but it's well worth it. Conduct market research to figure out what's going on and move up from there.
