Five Business Strategies To Help You Bring In The New Year

Five Business Strategies To Help You Bring In The New Year

At New Years, everyone thinks about starting over, having some fresh ideas, and of course, we like to make those New Year Resolutions. Business owners are no different, and in fact, having fresh ideas for the New Year is even more important if you have a small enterprise than it is in your every day life. Of course, any time of the year is right to introduce exciting new concepts, but there’s something about this particular time of year which is conducive to getting those ideas translated into action.

So here are five business strategies, focussed on marketing and sales, which will fatten up your bottom line like next year’s Thanksgiving turkey.

1. Freshen Things Up

Take a critical look at every aspect of your marketing, but start with the face you present to the world. If you have a brick-and-mortar business, does it look bright and fresh? The middle of winter isn’t a good time for doing outside work, but you can put in place a plan to update your look. If you can’t afford to do things like buy new signage and uniforms or paint the place up, then how about a really deep clean? Take some down time and have all the staff come in for a midwinter spring cleaning party, or if you can afford it, get a specialist firm to come in and make your premises sparkle.

2. Revamp Your Website

We get used to our own website and its funny little ways. The slow pace at which it loads, the rather difficult to understand navigation, the tiny product pictures, the lack of customer input, the fact that it looks hopeless on a mobile device. Even if you have a tiny or non existent budget, there are plenty of good DIY options out there which will help you create something which reflects more accurately the quality of the products and services you are selling. Better still, have an expert come in and create a brand new web site to go with the brand new year. The professionals at Brandaid would love to assist you in re-vamping your online identity!

3. Check Your Inventory

It’s amazing how much value some companies have tied up in old and outdated inventory. It’s even more amazing how that inventory can be turned into cold hard cash. For example, a company selling fishing lures had a lot of odds and ends in its stock room. Colors which had gone out of fashion, sizes which didn’t sell well, packaging which looked tired and dusty. They bought some off the shelf boxes, printed out a cheap label on their computer, and packed the lures up in tens, creating a mystery selection. Those mystery boxes just flew out the door!

4. Incentivize Your Customers

Does your business need new customers? We’d be amazed if it didn’t. The best source of new customers, is old ones. Contact your past customers (you do have a way of doing that, don’t you?) and offer them an incentive for bringing a new customer through the door. It can be as simple as a cup of coffee, or as elaborate as a free vacation – only you can be the judge of the value of a new customer. But make sure the incentive is desirable and generous – and proportionate to the value of that new customer.

5. Look For Add On Products And Services

Let’s say you have a HVAC repair service. That means that you travel go into people’s homes. Why not add in pest control to your service offering? There are lots of similarities, and you’ll be able to sell extra services to the same people. Or maybe you sell home made jams and jellies. Why not extend your range to cake-mix-in-a-jar? You’ll be using the same Ball jars, cute packaging, and selling to the same food outlets. Once you start thinking along these lines, the ideas for new products and services will just keep flowing – and that means increased profits for the New Year.

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