Famine and feast in business is a trend that used to have its place in the business world, but with a well planned marketing system this vicious cycle can now be laid to rest, and allow your business to flourish, consistently.
What Is Meant By Famine And Feast?
'Famine’ is a period during which a business experiences substantially lower income, due to a lack of customers or clients during, or at, that particular time.
A ‘Feast’ is the contrary: a business period filled with a rapid growth in orders/sales, sometimes all coming at once and putting pressure on your businesses ability to cope.
With the famine and feast business phenomenon, managing your cash flow to meet creditor’s demands can become challenging and worrisome. Staff members can become unmotivated, and the quality of their work can dwindle while at the same time costing you valuable time that can never be replaced.
Building a Consistent Sales Pipeline
Creating a consistent sales and marketing pipeline can help your company find its balance between servicing established customers or clients, and promoting your business to new and prospective ones.
The trap that many companies fall into, especially smaller businesses, is to lose themselves in the work that they are currently doing for existing clients. While doing this they decrease, or even worse yet, ignore their company’s marketing practices and strategy. If this is you, then you are sowing the seeds for future periods of famine. Learn more on how you can increase sales with this great article - How to Achieve Sales and Marketing Alignment to Help Reach Your Goals.
The JDR Marketing System
At JDR, we’re a company that was originally established around business coaching and the mentoring of business owners and directors. With this understanding of how businesses grow, JDR can be more than just a digital marketing agency to you, helping your company grow in a way that means you can manage famine and feast swings. The end goal is eliminating this cycle completely through efficient and effective marketing practices, delivered consistently over a period of time to ensure you always have a pipeline of new opportunities. This will help keep your business consistently in the black, without the downward dip.
To find out about our six step marketing system go to https://www.jdrgroup.co.uk/proven-marketing-system.
How To Avoid Famine & Feast In Business
JDR have a complete spectrum of tools to help you fight your famine and feast cycle. This includes the marketing system, use of the latest technology to give you the edge over your competitors, and a fully done for you marketing service that includes website content, search engine optimisation (SEO), email, social media, blogging and its content creation, and includes customer-relationship management (CRM) and marketing automation.
The Inbound Marketing approach we use gives your customers and prospects the chance to download informative content that they are interested in, allowing you to get hold of potential customer’s valuable information, and is done through the use of a multi-channel approach including Twitter, Facebook, LinkedIn, Google, YoutTube, email and more. By implementing automated marketing, leads are nurtured through the sales funnel with tailored and personalised emails, keeping your company offerings first and fresh in your prospect’s mind.
To Conclude
Building a consistent sales pipeline that does not see massive fluctuations in sales revenue can only do your business good. Limiting, or preferably eliminating, the damaging famine and feast cycles of your business will give you a secure and consistent base from which to grow as a business, and secure the future for your business, your staff and yourself.
Avoiding the famine and feast cycle in business can be eradicated without too many complications or major adjustments. Just a little time, effort and money will give you peace of mind that your business is managing to service all its customers and prospects in the right way, laying the solid foundation on which to build your company’s reputation and future success.
