How to Survive Slow Sales Periods in 2024 (with Tips from Fellow Small Business Owners)

How to Survive Slow Sales Periods in 2024 (with Tips from Fellow Small Business Owners)

Being a small business owner can sometimes feel like an uphill battle, especially with so many businesses closing their doors this year. It’s daunting, to say the least! Trust me, I get it—I’m right there with you, facing the same challenges.

I’m Katie, and as a small business owner myself, I understand the challenges. Not only do I run The Small Business Assistant, where I use my big-brand experience to help other small businesses with their numbers, how to optimise their stock and support with their website admin, but I also manage Skudaboo, where I sell premium giclée art prints from talented artists.

If you’re feeling like you want to throw in the towel, take a deep breath and ask yourself - have you really exhausted every option yet? Chances are, there’s still room to explore new strategies. Don’t give up! The world needs more small businesses and the unique products you have to offer.

I know times are tough, and spending habits have shifted, but people are still buying - they’re just being more selective. The key is to make your business stand out and attract those buyers. How do we encourage customers to spend less with big corporations and more with small businesses like yours and mine? Here are some strategies I’m currently using to boost sales for my small business.

Focus on SEO over Social Media

As a small business owner, you wear a lot of hats, and sometimes it feels like you’re working non-stop without seeing results—especially on social media. I know how frustrating it is to spend hours crafting the perfect post, only to see little to no engagement. It can feel like shouting into the void which can be even more demoralising when your sales are low too.

Social media isn’t the only way to get noticed, and it’s often not the best use of your time. Instead, focus on building backlinks and improving your SEO to boost your visibility on Google. This way, you can attract customers who are actively searching for your products and drive more organic traffic to your site. By prioritising SEO, you’ll create a steady flow of potential buyers without having to rely solely on social media algorithms.

I’ve personally shifted away from trying to rely on Instagram to drive traffic. Now, I see it as a way to support my website and build a community instead. This shift has been a huge relief in a tough time—no more chasing likes, obsessing over algorithms, or trying to keep up with the latest trends.

Instead of trying to crack the code of social media, I focus on creating content that I genuinely enjoy and that resonates with my brand. Also, by building a solid foundation for your business through SEO and organic strategies, you’ll see more sustainable, long-term results.

Collaborate with Fellow Small Businesses to Improve SEO

Improving your SEO is one of the best ways to get found online and reduce your reliance on social media and a way to improve this is by collaborating with other small businesses. After all, we’re all in this together!

By working with fellow small business owners, you can share customers, exchange backlinks, and even co-create content that benefits both parties. These collaborations help boost your website’s SEO, making it easier for potential customers to find you without relying solely on social media algorithms.

I've doen this for my business Skudaboo and improved by domain rating.

Here’s how I’ve been leveraging collaborations for my business:

  1. Choose a Relevant Topic - Pick a blog topic that makes sense for both your businesses. Think of ideas like a seasonal gift guide, product round-ups, or a themed collection. For example, here’s a blog I wrote for Skudaboo: 12 Cosy Buys from Small Businesses for Autumn 2024
  2. Find Collaboration Partners - Research small businesses that align with your niche or topic. Look for those with a similar audience but complementary products.
  3. Reach Out - Send a friendly message to see if they’re open to collaborating. Remember, not everyone will reply, and that’s okay. It’s not personal—other small business owners are just as busy as you are!
  4. Create Engaging Content Together - Once you find a partner, write engaging content that showcases both of your businesses. They may return the favour by featuring you, too! This mutual exchange can improve SEO for both parties and expand your reach.

Collaboration can feel like a slow process though, especially when you don’t get responses right away. To make things easier, I created the Small Business Collab Directory, where you can find businesses ready to partner up. If this sounds like something you’d like to explore, make sure to email me to join!

Bonus Tip: Guest Blogging for Backlinks

Small business owners are super busy and may not always have the time to collaborate. A great alternative is to offer to guest blog! Find a topic that aligns with both of your businesses, and you can still get that valuable backlink to boost your SEO. It’s a win-win—you provide quality content, and they get fresh blog material without the extra effort.

This is something I’m still exploring myself, but I’ve got a few ideas—like writing blogs for other home brands about different interior styles or how to pair art prints with their products. For example, “If you love this candle, you’ll love this art print!” It’s a great way to collaborate while showcasing how your products complement each other. Hopefully, this sparks some ideas for how you could apply the same concept to your business!

Plan for Low Sales Periods to Ride Out the Slumps without Panic

No matter how successful your business is, slow sales periods are inevitable. Especially during the summer when everything seems to slow down (unless you’re selling seasonal goodies). And 2024? Well, that was a tough one for many of us. I felt it too, so trust me—you’re not alone!

Over the summer, I made the decision to turn off my Meta ads and scale back on social media. People's priorities were different, and it didn’t make sense to push my products during that time. Did this magically fix the slow sales? Not exactly! But it gave me some breathing room to regroup, think ahead and save my budget for when people are more likely to buy. The truth is, slow sales periods happen, but with a little planning, you can soften the impact and make those dips easier to manage.

If you already know when your slow periods are likely to hit—like the summer or post-holiday season—start planning for them. Look at your sales trends from previous years to predict when those dips might come. That way, you can save during busier months and build a financial cushion to ease the pressure when sales inevitably slow down. It takes the panic out of the equation and helps you manage things more smoothly.

Also, don’t go overboard on new stock just to boost sales. When demand drops, the last thing you want is a room full of unsold products tying up your cash. It’s smarter to adjust your inventory to match the slower sales period.

Lastly, if you know when to expect these slow periods, instead of panicking, you can use this quiet time to work on your business rather than just in it. Tackle those projects you’ve been putting off—whether it’s refreshing your website, optimising your SEO, or finally giving your branding some love. It’s easy to overlook these tasks when you’re busy, but trust me, a little TLC during the slow months can pay off big time when customers start buying again.

Capitalise on Your Small Business Superpower

It’s time to rethink your marketing and really lean into what makes your small business special. What can you offer that the big brands can’t? This is where you get to think outside the box and play to your strengths as a small business.

Sure, big brands have huge budgets, but you’ve got something far more powerful—personalisation and authenticity. So, what can you give to your customers that isn’t just another discount? Think about those little touches that make your business stand out, like a handwritten note, inspiration tailored to their style, or even a surprise giveaway. People are tired of the same old stuff from the high street - they’re craving something unique and meaningful.

Don’t be afraid to experiment! If you’re ever stuck for ideas, why not ask ChatGPT for some creative, out-of-the-box suggestions? That’s where I’ve found a few of mine—and I’ll let you know how they go!

At the end of the day, your small business has the flexibility and personality that big companies just can’t replicate. So, tap into that power and give your customers something they can’t find anywhere else!

Explore Other Income Streams: Don’t Put All Your Eggs in One Basket

Diversifying your income streams is one of the smartest moves you can make as a small business owner. Relying on a single platform or customer base is risky. Have you thought about selling on platforms like Amazon or partnering with wholesalers? These options can help you reach new audiences.

Also, consider expanding into B2B (business-to-business) sales. Larger companies often have bigger budgets, so offering bulk sales or services could significantly boost your revenue.

And don’t forget about monetizing your hidden skills! If you’re an artist, could you offer workshops? If you sell homeware, could you add interior design services? Thinking outside the box can open up new revenue streams and reduce risk.

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As a fellow small business owner, I know first-hand the challenges we face. These strategies are ones I’m currently testing in my own business, and they’re especially helpful for businesses in their early years of growth. The best part? They’re low-risk and don’t require a huge financial investment, making them perfect for small business owners who are looking to grow without breaking the bank.

Remember, your small business brings something special to the world. Don’t give up—the world needs more unique, creative businesses like yours! Keep pushing forward, embrace the journey, and trust that with persistence, your hard work will pay off.

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