It’s 2019, and a new year means new opportunities for business leaders to take their ventures to the next level. If you’ve started this year with a vision of growing a stronger, more productive business in the months ahead, then you’ve come to the right place.
Even if you think that you’ve already got a pretty lean operation in place, the following tips could help you to increase your revenue, improve your reputation, improve your financial management and unlock new opportunities by the time your organization reaches 2020. Let’s get started.
1. Automate marketing efforts
One of the easiest ways to develop your business in 2019 is to stop wasting time on things that technology can do for you. If you’re still automatically posting all of your updates on social media and ad networks manually, try automating the process instead. You’d be surprised what you can accomplish when you take repetitive tasks out of your hands each day.
2. Work on your reputation
In a world where customers rely on reviews and testimonials from other people to make their buying decisions, your reputation is everything. One of the easiest ways to build your reputation is to listen carefully to what your customers need most from you. If you know that your checkout process on your website is a little clunky and outdated, then make sure that it’s upgraded this year. If your customers tell you that they’d prefer to have different methods of paying for their goods and services, look into what you can do to enable these options.
3. Invest in productivity tools
If you’re working with a team of employees in your business, then it’s crucial to make sure that these people are empowered and efficient. After all, your staff members are the key to faster time to market and happier customers. Productivity tools like scheduling apps, collaboration tools and more can help your team members to get more done in a shorter amount of time. Just make sure you ask your people what you need before you start introducing new technology.
4. Reduce your regular expenses
Sometimes, to take your business to the next level, you’ll need to find ways to free up some of the resources that you’re currently using. For instance, can you switch to a different supplier to cut costs on a certain material? Is there a way to cut down on the number of tools you use every day? Even making sure that you pay off your business loans on time so that you’re not dealing with interest and fees is a great way to keep your cash flow on track.
5. Measure everything
The more you track the performance of your business strategies, the easier it will be to see which of your methods are leading to greater productivity and profits, and which might be holding you back. Measure everything from your day-to-day production levels to your customer satisfaction rates, and use the data that you collect to make informed decisions about the future of your organization. The chances are that there are one or more bottlenecks in your company that’s currently stopping you from reaching your true potential. Find out what your weak link is and remove it.
6. Get to know your customers
Today, experience is more important to your customers than anything else – including product features and prices. To make sure that you’re delivering the right experience, the first thing you’ll need to do is get to know your target audience. You can do this in a multitude of different ways, from sending surveys out to your most loyal fans, to asking for reviews and testimonials from anyone who buys a product from your website. You can even offer discount codes to people who are willing to take the time to write a review.
7. Look for opportunities to collaborate
It’s common for entrepreneurs to look at other business owners in their space as nothing but competition. However, there may be people out there who can partner with you to help you grow your business. For instance, a software company might partner up with a hardware business to offer a better end-to-end solution to their customers. You can even look at local influencers to improve your marketing campaigns. Think about the collaborative efforts that could help your company to thrive.
8. Ask for referrals
Finally, there are few things better in the business world than word-of-mouth marketing. Sometimes, all you need to do to get your loyal customers to advocate for you is ask them! Offer customers a free discount if they refer someone else to your business or set up a loyalty program for those who want to make an effort to help you grow your business. You’ll see your profits jump in no time.
(Featured image by g-stockstudio via Shutterstock)
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation for writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
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