Thursday, March 4, 2021
Business Strategy How to Improve Business This Year

How to Improve Business This Year

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As you looked over your business records for the last year, were you satisfied with the results? Most likely, not only because of COVID, you saw less than satisfactory results, but you also saw some areas where you would like better results – especially profits. The following steps will help you improve business this year – and beyond.

Increase Your Digital Marketing

COVID is still around and there is no telling just how long it will stick around. Vaccines may not bring the end of the virus as it continues to mutate. One thing that will likely remain the same, though, is that people are growing very accustomed to shopping online. You can expect even more of it, which means you need to become more visible online. Use more social media, more content, and more online advertising – paid and unpaid.

Expand Your Types of Content Marketing

There are many types of content that you can post online. Having more types makes it more likely that you will attract a wider range of customers. Add more pictures to your blog posts and videos, which are becoming more popular. If you are not already using them, add social media sites such as Pinterest, Instagram, Medium, Twitter, Facebook, YouTube, Quora, and more. Provide helpful content on these sites that is also keyword focused.

Find the Efforts That Get the Most Results

The Pareto Rule, also called the 80-20 rule, says that about 80 percent of your best results will come from just 20 percent of your work. Focus your energy on that 20 percent and increase your efforts along that line, but do not forget about the other 80 percent necessary to run a smooth business. Following this principle will enable you to improve your business rather than just work in it.

Create More Advertising

Popular online sites offer many ways to advertise your business or products. Some places you might add advertising include YouTube, Instagram, TikTok, LinkedIn, social media influencers, and more. You can also use offline local advertising with direct mail, the newspaper, radio, industry magazines, and TV.

Run a Customer Loyalty Program

The secret to building a stable business is to get customer loyalty. These customers love your business and will continue to buy from you and even tell others about it. By providing them with special benefits through targeted flyers and emails, you can increase your loyal customers and see a more steady income.

Check Your Marketing Stats

Your stats can tell you a lot of things about the success or failure of your marketing efforts. By making little tweaks here and there and closely watching the stats, you will be able to quickly tell if your changes are headed in the right direction.

Focus on Products That Sell

Not all of your products are performing well. Why not drop them and get focused on what does sell? Upgrade and streamline your product offerings. COVID has brought changes in the way that people shop. Find out what people really need and want and go with those products.

Study Your Competition

No matter how successful your business has become, it is always a good idea to borrow some ideas from your competitors. One or more of them will always be coming up with new ideas – probably some that you never thought of.

Making changes in the way you do business can make a difference in your bottom line. Continue to watch the stats and your bottom line and do not be afraid to try methods that others have used successfully, but understand that not everything you do will produce the same results. Be sure to know how to best implement those changes before using them.

 

Do you have any tips for how to improve business during the COVID-19 pandemic? Share them below!

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