Peak Seaon is Coming to an End

August 14, 2023

by Chris Lantz

Peak season is coming to a screeching halt and rates as of Aug. 1 are already headed back to non-peak discounts. Although the choice of TSPs for peak isn’t officially over until 9/30, we need to take a breather, collect our thoughts, and get ready for what some are saying will be a cold winter.

It’s no secret that military moves were the cash cow this summer with other product lines, like COD and national accounts, not really a factor, but military too will see a slow down on top of summer rates heading into hibernation mode. With that said, it’s always good to start taking a hard look at things and look ahead to best protect what we all busted our butts for this summer – and protect our bottom lines. Because of my military focus, I like to say, “We collect our nuts in the summer so we can survive long cold winters, and what we have left come May shows how we did.” See below some easy yet efficient bullet points to help you set up for success this winter! Good luck!

  1. Review your budget: Carefully review your current budget to see where you can make cuts and reduce spending. Identify which expenses are essential and which ones you can reduce or eliminate to save money.
    1. Cut extra warehouse labor.
    2. Trash expenses – consider going from five dumpsters to one or two.
    3. Return rental equipment you’re no longer using.
  2. Get creative with marketing: Use creative marketing tactics to attract new customers and retain existing ones. Focus on increasing customer loyalty and engagement.
  3. Reevaluate your pricing strategy: Consider adjusting your prices to stay competitive in a slow period.
    1. Offer discounts or loyalty programs to incentivize customers to purchase from you.
    2. Do a cost analysis to make sure you don’t adjust so much that you can’t cover overhead expenses - doing work that isn’t profitable will catch up with you quickly.
  4. Utilize technology: Take advantage of digital marketing channels and tools to reach new customers, find cost-saving solutions and increase efficiencies. This is also a good way to market your business and the services you currently offer.
  5. Strengthen customer relationships: Strengthen relationships with your existing customers by providing them with exceptional customer service.
    1. This is Doing Good Business 101. No matter the line of business, aim to provide exceptional service.
    2. People will pay for good service, driving more income to your bottom line.
  6. Analyze and adjust: Monitor your progress and adjust strategies as needed to keep your bottom line healthy.
    1. Keep a close eye on revenue and expenses.
    2. Remember: Trying new things can be scary but rewarding.

For example, we had a real estate partner call us as she was getting ready to put a condo on the market for a 92-year-old client. The seller said she just wanted everything gone. The real estate agent asked if this was a service we could provide and while it’s not the norm for us, we had time to spare on our books. We said yes, booked it as a local job, called the dump site to see what that expense would be and quoted the customer accordingly. We have trucks and workers! There is so much you can do in the winter with those two assets. Get creative!