With the new year just around the corner, now’s the time to get your small business ship-shape for 2014 by making some important and necessary changes to kick-start the year off right. Build your business’s audience, attract attention and position your small business for success against the big boys with inbound marketing and many more tips. Inbound marketing includes leveraging popular cost-effective marketing methods such as blogging, social media platforms, email, SEO, and content marketing.
Here’s why small businesses love inbound marketing:
- Small businesses have limited resources for advertising.
- It allows for small business to respond quickly to the latest trends.
- It allows a small business to focus on multiple small niches.
- Competition from other businesses with the same ideas.
Revamping Your Small Business with These 7 Steps to Success
Start the year off right by revamping your small business with these 7 steps:
Step 1. – Re-evaluate Pricing and Packaging: Now’s the time to consider whether or not you’d like to increase rates or product pricing. If you’re a small business owner offering services to clients, then ask yourself how much your time is really worth? Don’t sell yourself short. However, if you decide to implement a rate increase, this rate increase should only apply to new clients and not existing clients. Now is also the time to consider offering “packages” for your services, if your business offers services.
Step 2. – Differentiate Your Small Business: Set your small business apart from your competition by focusing on the benefits that your product(s) or services offer to your customers in comparison to your competition. And don’t make this distinction about price – that will not set you apart from the crowd. Make it about the products, services, value, and reputation.
Step 3. – Know Your Audience: As always, it is important to truly know and understand your target audience. Connecting with customers and consumers in a way that they feel they can trust you and rely on your, is also a way to set yourself apart from competition. Know everything about your audience; know what they like and know what they want to hear.
Step 4. – Upgrade Your Workspace: Consider starting the year off fresh by upgrading your existing workspace. Make your workspace more useful and attractive by getting organized, etc. Maybe make additions to your workspace that provide comfort to customers with things that include comfy chairs, greenery, artwork, etc.
Step 5. – Know Your Competitors: Know what alternatives and substitutes to your products and/or services that your competitors are offering to consumers.
Step 6. – Get Your Records in Order: Effective bookkeeping will allow your small business to start the year off right. Get organized and stay on top of things like profit and loss statements, cash flow, etc. And when getting your records in order, consider starting with the tasks that cause the most stress and aggravation all year long. Get those tasks out-of-the-way first.
Step 7. – Set Goals: Goal setting includes pricing for profitability, gaining more recognition, connecting more with customers, etc. Consider setting annual goals, as well as setting quarterly goals for your small business.
The Bottom Line
There are many things that you can do to revamp your small business for success in 2014. Start the year off right by doing everything above and don’t forget the importance of inbound marketing to your small business. Stand out from the competition by effectively setting yourself apart from the crowd, connecting with consumers and goal setting.
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