Business dynamics have changed especially with the pandemic. It has not been easy and some of the businesses have been forced to close shop while others are struggling to stay afloat. This, however, does not mean that other businesses are closing as well. In fact, others are thriving!
As a business person your sole goal is growth and profit. With the change in dynamics, it is only paramount that you will have to change on your strategy and implement ways that will ensure successful growth of your business. Change is inevitable and it is the only thing that is constant.
Whether it is a new product that you plan to launch or you purpose to break a new sales record, a strategic game plan is a must-have. Your overall success in 2021 will mostly be determined by your accomplishment in the initial part of the year. A strong action plan not only helps you grow your revenue thus growing your business, but also it makes sure that you and your team are held accountable and your progress can be monitored.
All in all, it is easier said than done and at times you might not know where to start. Fret not, here are a few guidelines that will make sure that your path to success is realized.
Building A Strong Brand
Regardless of your business size, customer or location, branding is very critical. This puts you out there and it can either be a hit or miss depending on your strategy. A loyal customer base is what you are seeking and this can only be achieved through professionalism and the niche you will create or have created in your brand.
A brand that is always
consistent and recognizable is a trustworthy brand. As you develop your brand
some of the things to put into consideration is color, font and messaging. This
should be catchy and recognizable to your customer, making them know you better
both offline and online. It should command a strong presence.
The elements included in
branding style guidelines are your logo, tones, colours, fonts and design. The
style guides should increase your brand value, be recognizable to your customer
and easier to communicate to your partners.
You should have a
cutting-edge logo that grabs your customers' attention steering them to your
business. It should be a timeless design that is simple and memorable.
Customer Focus.
The customer is always
right and a right way to attract and keep them is the core of any business. Who
are your customers? What is it that you provide that cannot be found in the
market? What solutions are you offering? How different are your services and
products in comparison to competitive brands? How do you attract a customer and
keep that customer? These are just but a few of the many questions you will
need to ask yourself as you focus of your business revenue growth. You should
figure out your target audience first before you launch your business.
Putting people first is the
best way to invest in your business. You should focus on building strong
relationships with your customers or clients, that are lifelong and lasting.
This will build trust with your customers who will in turn bring referrals and
help build a strong brand network. The cost of customer acquisition has risen
over the las five years by more than 50%. This means more competing products in
the market and therefore you need to build that trust with your customer and
find more ways to make your customer feel more valued and heard.
Great Team Focus
Having a great team to work
with is critical in your business. A team of motivated professional is vital to
ensure increased revenue growth in your business. From branding to marketing,
customer service and care, and even that highest projected sale that you purpose
to achieve, you will need a great team to work with.
You will need to conduct
extensive interviews that are smartly executed and you must be selective in
your hiring. An excellent team that is passionate about their work is a vital building
block for the success of your business.
Your brand values should be
able to attract employees who are like-minded. A happy employee is one who
feels valued and whose efforts are recognized. What attracts customers is
basically what attracts employees and your core values should make them happy
to ensure maximum productivity. This gears towards increased revenue for your
business.
Marketing Strategy.
What is your marketing
strategy? A strong and professional marketing strategy steers traffic towards
your business thus boosting your sales. This will not only lead to increase in
revenue but also help define your target demographic.
A great marketing strategy
makes sure that the steps you take are timely, giving you a chance to shape
your brand. In addition, your time and money invested in marketing will
guarantee the best Return on Investment.
Social Media Marketing
In the current business dynamic, social media presence is a must have for most if not all businesses. There are many users in different platforms and the time they spend there is an important access to your customers.
The data from social media
can be used to refine your audience and to make sure that your ads reach the
targeted audience. You can solve issues raised by your customers in this
platform in a direct and personal manner therefore building more trust. You can
consistently engage them to make sure your company stays relevant.
One of the ways is to use
influencers such as celebrities who have a huge following in social media to
push your brand, your main objective being building of trust within a specific
niche.
You can also use Search
Engine Marketing which involves buying ads on search engines and websites that
will help increase your business' visibility for specific phrases and key
words. This promotes significant exposure of the products and services that you
offer.
Leverage Videos
Research has shown that the
attention span of customers is shrinking and videos offer a great way to grab
their attention, keep them and stay relevant. Today’s social media networks are
mainly video-focused and this draws the attempt of the users more. Videos are a
more exciting alternative compared to the traditional advertisements and blog
posts. The benefits of the videos to both consumers and brands are immense.
As you produce video
content for your business, make sure to take advantage if the biggest trends.
Search Engine Optimization
In Search Engine
Optimization you will use a number of strategies and best practice to increase
your business website visibility instead of buying ads. This will make sure
your content is ranked high in search results without having to pay for
traffic. It will also build more trust with your customers since its pure
content and not advertised.
Make sure to create high
quality and relevant content for current customers and potential ones too.
E-Commerce
Upon the decision of selling your products on your own website, you will need to choose an e-commerce platform that works best for your business. There are a number of e-commerce platforms you can choose such as Magento, WooCommerce and Shopify just but to mention a few.
In addition, you could sell
your products on some of the world largest market places such as Amazon,
Etsy and eBay. This will definitely give a boost to your revenue.
Great, now let’s get started on realizing our great business potentials by implementing these guidelines.