With Christmas and New Years well out of the way, it’s time to get back to business and make pledges for the year ahead. In some industries, the post-Christmas slowdown can make finances difficult in the first few months of the year, but if you follow these tips from spoutFIRE, you’ll be able to make an impact and propel your business to success.
1. Utilise Social Media
The chances are that you’re already using social media for your business, but how effective is your strategy? Gone are the days of posting the latest industry news and adding a tweet to your timeline every day or two. Now, in order to make an impact, you need to get into the psyche of your potential customers and speak to them with relevant, engaging content. Use images, GIFs, videos and tailor your messages to the latest goings on in the media.
It’s important to treat social media marketing as an important part of your business growth. Handing the responsibility of your profiles over to your intern or apprentice may sound like a good idea, but you should instead train a dedicated marketing manager to handle your digital marketing activities. Alternatively, work with a London communications agency to take the pressure off of your team.
Sticking to one product or service has certainly worked for some brands, but if you’d like to grow your business this year, consider diversifying your line-up and introducing something new. Not only does this enable you to reach a wider audience, but it also means that you can target your existing customers with add-ons, upgrades and extensions to boost your profit margins and grow your business.
Take a look at what your competitors are offering, and consider adding to your lineup by following their tried and tested formulas. Alternatively, you may decide to spin off niche versions of your services or try ‘limited edition’ versions of products to see what sticks.
3. Market Smart
Marketing is about much more than running an ad in the local newspaper and paying Google AdWords to promote your brand in search results. If you want to boost your business in 2017, make sure you’re investing your marketing budget in the right channels.
Use content marketing to boost engagement, improve search engine rankings and convert casual readers into customers. Use social media marketing like Facebook Ads to promote special offers and product launches. Invest in video and multimedia content and see how it can boost engagement levels on social media. Experimentation and trial-and-error are key.
4. Focus on Customer Retention
It’s difficult to grow your business without a loyal following of regular customers or subscribers. Instead of putting all of your efforts into lead generation, focus on customer retention and make sure that your core service is delivering. The more satisfied your existing customers are, the more likely they are to stick around – and the more likely they are to recommend you to their friends, family members and colleagues.
Business is all about building contacts. If you’re looking for partnerships with distributors or manufacturers, you’re struggling to grow your brand, or you’d just like to speak to somebody in a similar situation to you, networking helps. Attend local networking lunches, use LinkedIn to leverage attention for your brand and don’t be afraid to reach out to other industry professionals. The more approachable and informed you appear, the more likely you are to build your personal brand – and your company’s brand in the process.
There you have it – just some of the ways in which you can boost your business this year. Don’t forget to market, retain and network your way to success.