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.
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.
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.
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.
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.