Reports over the May bank holiday weekend now estimate the loss to the UK economy of the two May bank holidays this year to be £2.9 billion.
Surely there will have been some winners? Anyway, ever the pragmatist I’ll leave the debate about how much and should we move the dates to others and pose the killer question: So what are you going to do about it?
I mean, if your business suffered (mine certainly did) what are your plans to catch up before the August holidays, or if your sales cycle times are longer what plans are you going to put in place for the remainder of the year?
Here are some ideas to get you started
1. List and chase down outstanding enquiries – re-open closed enquiries – give an incentive to your sales staff and customers – chances are those customers haven’t bought
2. Build your lead generation, campaigns, events etc whichever way your business works, above normal monthly levels to make up for the shortfall - but do it right now before we get very far into June
3. Look at new avenues to catch up – your run rate would be based on some assumptions – capacity, market size etc – so catching up may mean busting your previous plan – often this is not easy – just doing more of the same is often easy to plan but doesn’t deliver – so look for new markets, new customer profiles, modify, diversify, differentiate your proposition
4. Lastly, look at costs – what other costs can you take out, can you make, package, market or sell more efficiently?
Good luck. If you’ve got some good ideas and or successes please let me know
If you’d like my help e-mail me