As a small business owner, do you ever think about how to improve your business productivity? How to increase your customer base? Thankfully, these are the right questions for a progressive entrepreneur. The following are five simple ways that will propel your small business to a higher level.
Increase Your Online Presence
Do you have a business website? In the current digital age, having one is an advantage. Making functional and cosmetic updates to your websites might seem like a minor effort, but it is one that will benefit your business immensely. Cosmetic updates will ensure your website is captivating enough to catch the eye of a prospective customer. Include visible contacts and physical addresses in case a lead wants to make contact or visit your shop or office. Functional updates may include introducing online sales and an online booking system.
It will also benefit your business to invest in SEO to pull digital traffic to your website. Incorporating your website with various social media platforms is a trendy way your business can keep in touch with the multitude of online users. This step will most likely increase your leads and eventually your sales.
Have an in-Depth Look At Your Finances
Financial numbers define profit, loss or stagnation of a business. Your business can tremendously benefit from the right book-keeping procedures. If you consolidate the use of tools then your accounting can be stress-free and with minimal errors. For example, you can use sage 300 ERP integration which enables you to organize and clearly understand your financials. This tool, for instance, will help you in:
Processing end-of-year adjustments
Maintaining payable and receivable accounts
Knowing your numbers will enable you to always maintain a growth trajectory.
Maintain Good Customer Relations
While it is profitable to have a large customer base, it is entirely another thing to keep them altogether. You want your business to have loyal return customers as opposed to one time customers. To achieve this, you need to develop long-term relationships with your customers. Having excellent communication skills is an integral aspect when engaging with your customers. Listening to your customers and making appropriate changes with respect to their needs is a good starting point for developing a long-lasting relationship with them.
Whether or not a customer returns for a subsequent purchase entirely depends on their satisfaction. So, ensure the quality of your products or services is at par or better than the needs of your customers. It is best to engage all prospective customers, including being active on social media platforms. If your services or products satisfy a customer, then they are likely to write a positive review and equally refer someone else to you.
Asses Your Marketing Strategies
An effective marketing strategy will definitely improve your sales and improve your business in return. Knowing whether a marketing strategy works is vital for any business looking to cut back on losses. Positive margins are the ones that drive the growth of your business. How do you assess your strategies? Assess a marketing strategy by weighing its financial input, labor, and time it demands against the results it produces for your business. Doing continuous assessment will help you figure out the strategy that is paying off and the one that isn’t.
For instance, you can keep track of how customers initially get to know about your products, services or brand. Is it through a referral, online post, a newsletter or mainstream media advert? With the resultant data, you will tell the marketing effort that generates higher customer interest and inquiries. You can therefore focus your effort and finances on the marketing strategies that create more leads.
Motivate Your Staff
Your staff members are a core pillar of your productivity. Their motivation level while at work can either propel your business or plunge it. Therefore, it is best to be close and friendly to your staff to understand what makes them tick. You can benefit a great deal from your staff if you let them have flexible working hours, ensure they have a fun and conducive workplace, and recognize good work.