Reinventing your business strategies every so often is not such a bad idea. With the world going digital, is there a better time to make the shift than with the New Year? From boosting staff productivity to reducing costs and increasing sales, there’s a lot you can do this New Year to stay on top of the game.
Tips for business growth in 2019
If you dream of scaling your business fast and extending your reach to new markets, there’s no better time to make the investment than in the New Year. Here are some easy tips to get you started with new strategies and help you increase your profits in 2019:
Plan and set goals
Setting clearly defined goals is the first step to business growth. Make your objectives as quantifiable as possible. For example, if customer acquisition is your focus in the near future, have a number in mind with a reasonable timeline. Having a measurable quantity can also help you track your progress in the short or medium term.
Prioritise customer feedback
Keeping your customers happy is the only way your business can thrive. Customer satisfaction is the core value of a successful business and with good reason. If you haven’t been diligently collecting and acting on feedback, shift your focus to this department. If you don’t have a dedicated customer feedback and retention team, start building one. Buyers are unlikely to return if they have a bad experience, so retaining your loyal customers is crucial.
This also entails having good customer support, so that people know they can always turn to you to get their issues sorted. Everything from the presentation of your products to offering special discounts should be done with an aim to please your audience and earn their loyalty.
Be culturally aware
When expanding your business to a new location, take cultural nuances of the region into account. Different customers have different expectations and having an international business demands communicating with people from far reaches of the world.
Employing native-speaking customer service representatives will help you get over cultural barriers and form strong relationships with international consumers, who can feel at home while having their questions answered and troubles fixed.
Advertise on digital platforms
Most of your customers today are online. Even if your business doesn’t operate in the online space, advertising on the internet can really make a difference to your bottom line. There’s no dearth of advertising platforms in this day and age. From Google to Facebook to other popular social networks, you can reach your audience in a number of ways. All you need to do is figure out the right platform to get in touch with your customer base.
Use social media wisely
Choose a social media platform that best suits your needs. If you have a wide range of physical products, Instagram should be your go-to option; but if you’re looking to sell a service, Twitter or Facebook are recommended.
Adding these links and channels to your website is a great way to interact with tech-savvy users and engage with your audience via a solid content marketing strategy.
Stay ahead and relevant
The rate at which online marketplaces are evolving is rapid and it might be an arduous task to keep up with them. Instead of trying to catch up after long gaps, it’s advisable to take time out each day (or a few hours every week) to spend on the research necessary to identify the existing opportunities and competition.
You can subscribe to the Instamojo blog digest to get regular updates on relevant business news and growth hacks.
Think about the process you’re currently implementing and use it to enhance your team’s knowledge so that you can get the very best out of them.
Offer worldwide shipping and returns
When sorting out the plan of international customer service, the next important thing to consider is shipment/delivery. Not only do you have to take local deliveries into account, but you also have to make the process smooth and hassle-free for international shipping and returns.
To gain more positive feedback, you can offer coupons or discounts to international customers in exchange for leaving reviews online, with a view to driving more sales from overseas. Curate your marketing campaigns in a manner that resonates with an eclectic bunch of users.
Network, Network, and Network
Don’t hesitate to reach out to your peers and others in the same field. Taking advice from relevant competitors not only helps you establish solid bonds, but also allows you to regard the business objectively. Incorporate the option of smoother online payments so that purchasing your products is just a click away for your customers.
Build a network of contacts and valuable partnerships to take your business to the next level.
Set up a payment gateway
Payments will always remain an integral part of your business. A reliable and fast payment gateway can help you scale your business real quick. So redefining your strategy should definitely include setting up a smooth payment gateway that offers a seamless experience for both your customers and your business.
With Instamojo, you not only offer your clients the freedom to choose to pay you with any mode but also forget about technical integration woes and more. More than 600,000 businesses use Instamojo.
I have seen the strategic growth of Instamojo payment gateway. By the way, these are one of the best new strategies.