Consumers spend the most money in the summer. Here are three easy ways small businesses can take advantage of that and translate that into increasing their revenue this summer.
1. Create a summer-themed service or program
By only offering this in the summer, you’re taking advantage of scarcity marketing, which is an extremely effective tactic to bring in customers who might have previously been on the fence. The key is to offer something different from your regular services or programs by adding a special bonus or adhering to a theme. For example, if you run a summer school or tutoring center, try offering free weekly treats (like popsicles) or promising a field trip to the water park at the end of the summer. If you’re a dog groomer, try throwing in a free blueberry fur mist for your clients—anything will work, as long as it’s only offered during the summer.
2. Launch online services to create flexibility
If you run a service-based small business, it might be difficult to maintain a steady stream of revenue during the summer because many people choose to travel then and are unable to attend in-person sessions. Are there any services you can offer online? Could you offer online classes or pre-recorded self-paced programs? Could you offer virtual personal training?
By creating digitized versions of services you already offer, you’re not only keeping the revenue streams from existing customers, you’re also setting yourself up to be able to reach a completely new market. By offering online services, you’re guaranteed to have a separate and additional stream of income, which creates the flexibility and stability you need to continue to adapt and grow your business.
3. Launch a rewards or loyalty program
Repeat customers make up the majority of your future revenue, so it’s in your best interest to keep them coming back. One way to incentivize customers to become repeat customers is by offering rewards! For example, if you’re a martial arts studio owner, you could try offering a free class for every 10 paid classes, a free karate uniform after your student has completed their foundational martial arts classes, or a bundle of classes at discounted price?
Once they become repeat customers, set them up on a subscription payment model to make the payment process easier. And if they’re set up through Finli and paying through ACH, neither you nor your customer has to pay any fees! That means more money in both of your pockets. (Subscription payments promise steady and increased revenue. Read here for more details.)
Take advantage of this upcoming season, use these three tactics, and watch your profits grow! Finli wants to help you take care of all the busywork that comes with a growing business. From invoicing to payment collection (and so much more!), Finli’s got you covered. Schedule a demo today!