When a business isn’t growing, it’s not a good sign. Companies must offer products or services that stay relevant to their local or national market. Otherwise, they risk losing touch with what their business customers expect from them.
Here are four tips on how to expand your business this year.
1. Improve Your Production Quality
Video is huge this year. Many companies are failing to take advantage of the opportunity to market better by presenting a strong brand out into the world.
Usually, the concern is that they don’t know how to create quality video content for distribution. Perhaps there are some good ideas within the company about what types of topics to cover that would be useful for customers, but the thought dies there. Don’t let that happen this year.
Use a reliable South Florida video production facility that can stop your team worrying about the technical side of audio/visual content. That way, they can focus on what customers want to hear about and how you wish to distribute the content.
2. Embrace New Marketing Channels
Don’t stick with what you’ve already done for marketing. If you do, you’ll get roughly the same results as you did the year before. You only have to look at the year-over-year sales results to determine how your total marketing approach is performing for you.
Consider new marketing channels like online advertising, guest posting on industry blogs, and sponsoring at local events to get your brand in front of a new audience. Try different ideas with a small initial budget to see how they’re performing for you and tweak them as you go along. Similarly, do the same with your existing marketing efforts rather than repeating the same activity.
3. Do More with Your Current Customers
Don’t take your existing customers for granted. It’s quite likely that you don’t have the business relationship with these customers at the level it should be. If the marketing has been running on autopilot for years, then likely their repeat orders have been taken for granted too.
Get your sales team enthusiastic once again about engaging with the current customers. See what can be done to offer customized solutions tailored better to their needs. Engage customers in conversation and explore how the company can offer a better service or a different product for them.
If you ask the customers what they’re needing from the company and not receiving, that can be very illuminating. It provides fresh ideas for the future too.
4. Profit Participation or Incentive Goals
If you aren’t doing it already, tie in profit bonuses or incentive-based goals to performance. Encourage the sales team to increase sales to earn more commissions. Make sure that the person responsible for writing the sales copy and managing online ads is also rewarded for ad campaigns that perform more profitability too. Get the staff motivated to push the company forward in a way that also directly benefits them.
Business growth normally doesn’t happen in isolation. It requires a series of ongoing, purposeful actions by multiple people within a team to deliver exciting growth in a single year. Isn’t it now time to get started?