5 Ways to Recession-Proof Your Salon
In today’s economy, every business owner is worried about the future of their business. While many of us have seen our profits drop, there are still ways to increase your bottom line and weather the storm. Here are five tips for making sure your salon survives these hard times:
Do Not Cut Back On Marketing
Too many salons make the mistake of cutting back on marketing during tough economic times. “We don’t have to worry about marketing now; we’ll do it when things get better,” they think. But without marketing, no one will know you’re there!
Marketing is not just about advertising; it’s also about building relationships with your clients and building your brand, reputation, and customer loyalty so that when times are good again (and they will be), you’ll still be around for them to come back to.
Focus on Communication with Clients
You may not always be able to see it, but many people that come into your salon are going through financial difficulties. While this doesn’t mean you should lower your prices, it does mean you should be very clear during your consultation on what their budget is. This will go a long way in building loyalty with your clients. At least you know where they stand financially and can plan accordingly.
Offer Incentives on Retail
While it’s true that retail sales have been declining as a result of the recession, they are still an important part of your business. To increase your store traffic and sales, offer incentives on retail items. For example, you could offer a discount if clients purchase two or more items in one transaction. You could also offer a discount on packages where one of those packages includes a retail item. Or you could offer a discount on packages that include both services and retail products.
Master The Client Experience
- Make your clients feel special. This can be achieved by sending a follow-up text to check in on them, posting pics of them on your social media, or giving them free samples. The idea is to connect with your client on an emotional level and show them that you appreciate them as more than just money in the bank.
- Make clients feel like they are the only client you have and that they are important to you and your business. This helps build loyalty because if someone feels valued by you, then they will want to come back again and again! Show interest in their lives by asking open-ended questions like “How’s it going? What’s new? “ Show true interest in their responses. It’s about them, not you! Remember that people love talking about themselves! The more often they talk about themselves (and their lives), the easier it is for us to build connections with them emotionally, and the more we are connected to them, the more likely they are to send their friends and family to come to see us.
Great time to stand OUT
It’s a great time to stand out. There are so many salons out there, and people are looking for something unique. It’s important that you make yourself known in the community by offering something special.
For example, The Canyon Salon in Westlake Village, CA, is adding an Extension bar to their salon. They will be the first salon in their area to offer this convenient service to clients. This is a genius way to stand out in times of recession.
Conclusion
I hope these tips will help you weather any economic storm. A recession-proof salon has strong, effective marketing and branding, customer relationships that are built on trust and loyalty, and a team of talented staff members who know their clients well. The key takeaway here is that if you focus on these five areas of your business, then even when times are tough financially for your clientele (or yourself), there will always be an opportunity for growth!
