While it is true, many consumers spend less on services such as contractors and repair services due to saving for the holidays and holiday shopping in general, many consumers still contract services. November and December are the slowest months in Real Estate, however, consumers still list homes and buy homes in these slower months. What causes your peers and colleagues to capture these sales and revenue while you do not?
During slower time periods it can be common for some business owners to take spiral of death approach to managing the business. When sales are slower, maybe you pull back your advertising spend, if you have marketing budget at all. This is the time where you should double down on your efforts. Ensure you have the most refined business plan developed and in place, which in large part includes a well-executed marketing program. The service providers that realize success in the 4th Quarter of the year or the realtors that capitalize on the buyers and sellers in this market are those successful businesses that execute their business plans effectively, focus on their efforts and market in this season. The businesses that do not change their behaviors to meet the changing climate or seasonality of their businesses are those that fail during these times. Don’t take my word for it. Gary Keller, the famous founder of Keller Williams Real Estate Group discusses this problem at length in his New York Times Best Seller “Shift” where he calls out why 98% of the real estate community left the industry after failing miserably during the 2008 recession and why just 2% of the top performing realtors realized tremendous success during those terrible economic times.
Whether you’re a retailer or wholesaler that stands to partake in a significant revenue increase during the 4th Quarter of the year or a service provider that typically sees a tremendous revenue slow down, navigating your 4th Quarter successful requires a strategic marketing program.