I started my business in 2022 and sales were reasonable however it started to dip massively late last year to a point that no sale in Q4. Outsourced SEO, boosted speed, improved bounce rate, campaigns on social media. We deal in high end retail of old and rare whiskies so our clients are a bit ring fenced. also tried to launch sample boxes without subscription so as not tie customers in a payment prison, and also lower end range to lure customers to no avail. Not sure what is going wrong.
Tough one, sorry to hear that. 2-3 years of sales is still very young, so chin-up. Sounds like you’re doing the right things in-terms of addressing your digital footprint (assuming that the company you outsourced did a good job - it’s possible that they didn’t optimize for you…we’ve seen that before). Have you tried to identify your core market? Presumably your products are $$$ and therefore you are already dealing with a very specific demographic. You’ll need to truly understand who you are selling to, why they would buy, and what the competitive landscape is. Have you tried any collaborations or partnerships with complementary brands? Subscriptions are a great way to ensure recurring revenue so I wouldn’t toss that one out yet, and re. high end rare whisky vs. low end you’ll need to decide who you want to be. No right answer there, but if you want to be high end, then don’t mix low end in there, you’re speaking to two very different customers. For your social campaigns, how is your content - be honest? Mediocre, Good, Great, Amazing? Stills or Video? Video is important. You need to engage with your core customers and build out from there. It’s all about your community. Good luck.
Hi @nikhilshettyv, Sorry to hear that your sales have declined since last Q4. You may want to focus more on retaining existing customers—they already match your target audience and are familiar with your brand, which often makes repeat purchases more achievable than acquiring entirely new customers. You can further strengthen customer loyalty through gift cards, referral incentives, exclusive discounts, and seasonal or festival campaigns.
In this case, focus on building your shop into a reliable product brand and delivering a higher standard of customer service to strengthen long-term customer trust.
I hope that helps.