Summer is a time for rest and relaxation, the weather is nice, everyone is tan, and it’s an easy way to let your guard down. Don’t let the heat get to your head; you still have a business to run and an opportunity to make a lot of money.

Competition does not take breaks or vacations, it’s a continuous process. Be sure you have a plan set in place to keep your business competitive with the quickly changing industry.

Customer Loyalty

The most important entity in any business is the customer, hands down, without them you would not exist. Just having customers isn’t enough, you want to retain them and avoid leaving for your competition.

Summer is a perfect time to show some customer appreciation. Roll out some promotional campaigns geared toward increasing customer loyalty.

Quality

Even though it may be hard to concentrate on the little things, the quality of your products/service requires it. If for one second quality is compromised, it may tarnish your image and result in people going to your competitors.

Ensure proper quality control plans are in place, things happen; it is how you react to them that is the difference.  Customers reward good quality and punish poor quality; it’s a no brainer which one you want.

Price

For some niches, summer, is their money making season, prices either increase or decrease. You don’t have to be an economist to figure out how supply and demand works in regards to pricing.

Price reduction via a discount promotion may be a very effective tool. It may differentiate you from your competitor who either isn’t running a promotion or has higher prices than you.

Market Saturation

The online marketplace is growing faster than ever; new websites are popping up every second. This can lead to a significant increase in competitors.

The best advice would be to diversify, get into different niches so you don’t have all your eggs in one basket. It can’t hurt; it will only introduce you to a new market and a new potential sales opportunity.

Standing out in an overly competitive market is no easy task. However on the other side of the spectrum, being in an untapped market give you opportunity for growth.

Advertising

Your product/service may be the best thing since sliced bread, but if no one hears about you how can they buy. Where and how you spend your marketing money can be the difference maker in your business.

You have to be in front of as many customer eyeballs as possible, that includes places like mobile, email, and social media. All three are intermixed and focusing on one and not the others won’t be very effective.

Research and study your target demographic which media channels do they spend most of their time on. Once you figure it out, creatively come up with a way to provide them with valuable content and increase engagement.