Finding your way back after a setback

Photo credit: Styled Stock Society

Updated January 2024

Getting your business back on the map after a setback isn't going to be the hardest part of business ownership, but it's also no walk in the park. Whether you're reopening after being closed for a while or simply trying to find your way back in the black, there are a few ways to make great strides before the end of the year. 

Consider a rebranding or PR blitz

It's tempting to believe that sales are down and traffic is slow because everyone has simply chosen not to support your business. However, it's far more likely that customers have simply temporarily forgotten about you.  Given the last 18 months, many consumers are still operating in survival mode, foregoing normal routines and habits they’ve never strayed from before.

For example, that morning coffee run that was a part of their work commute is gone now that they’re working from home. Or, that after-work cocktail hour with friends has been swapped for dinner at home.

For businesses experiencing the loss of once consistent revenue, a rebranding or PR blitz might be just the thing that encourages customers to come visit again. Consider an email campaign to reengage them, asking questions like “have you missed us as much as we miss you?”

Or, hold a COVID-safe event outdoors this fall to kick off your holiday season, making sure your fans know your current hours, operating guidelines, and services.

When you rebrand or reposition your business as a staple that may have been forgotten but is as necessary as ever, people will take notice.

Leverage your assets, beginning with your team. 

Instead of trying to fix the business on your own and immediately investing in new resources (people included), take a step back and evaluate the assets you already have.

Are there team members you can shift around and reorganize? Can you provide additional training using something https://www.learningbank.io/ or a similar resource? In most situations, success comes when you have the right people doing the right things at the right time. 

This process can be trial and error, and it may take a few iterations to get it right. However, the time you invest in the people who work for and with you will be an investment that pays returns well into the future. 

Audit your online marketing strategies

The chances are good that, like most business owners, you took a "set it and forget it" approach for your online marketing strategy this year. Unfortunately, while it's great when this approach works, it rarely does.

Not only do your business goals change throughout the year, but so do the market and your competitors. As a result, the ideas and plans you had in the first quarter may not be adequate to meet your goals in the fourth quarter. 

Spend some time looking at your metrics and analyzing how your current tactics have performed so far. For example, has your website traffic remained consistent? Has your email marketing strategy fallen by the wayside and been replaced with social media efforts? Are you spending money on online advertising and seeing results? (Read more about that here: https://www.cyberclick.net/advertising/types-of-online-advertising.)

Once you can see a complete picture of the tactics and strategies, alongside their results, you can begin to formulate a plan to take you through the end of the year. Write out goals you'd like the business to accomplish before December 31 and be specific. These can be revenue-generating goals but should also include metrics like customer retention, brand awareness, and return on investment. 

Talk with your team about the goals and decide together how you'll work toward them. Plan to do a check-in every few weeks to ensure you're on target and don't be afraid to adjust directions when needed. The ability for a business to pivot when it's clear a strategy isn't working is a hallmark sign of health business leadership. 

One Nine Design is a digital marketing company helping small businesses and nonprofits learn how to use their website and email list to grow their reach and make a bigger impact!