Five Free Ways to Position Your Business for Growth in 2017
As 2016 comes to a close, many business owners are taking stock of the state of their affairs for the year. Hopefully you had a great year, filled with robust sales and repeat business. If you had some setbacks and missed your sales goals, you are definitely not alone. Many businesses fall short of their projected revenues from time to time. This is to be expected and depends on many market factors. If your goal is to position your business for real growth in 2017, you can start by taking advantage of these five free ways to do just that.
- Facebook Groups – Chances are you already have a Facebook business page, but do you have your own Facebook group page? Groups are becoming increasingly prevalent across all industries. You can create an open public group, or a private group where people actually have to get an administrator’s permission to join. Why would you want to create a private group? Simple: you can generate more buzz around a private group by creating a sense of shared interest in a group reserved only for those who meet the “requirements.”You can then engage your group members with informative posts, podcasts, videos, and other tools that educate them about your brand, your products, and your services. All of this will create added value for a group of potential clients that have already expressed their interest in your business. What does this mean for you? An increase in targeted potential revenue that you have created and that you can retarget over the course of the new year.
- Keep and Utilize Records – You have likely kept detailed records of your sales performance vs. your projected sales over the past year. You should also have records of your online sales if you offer your products or services online. If you do not have an e-commerce sales channel associated with your business you should still track the following things via Google Analytics:
- Total Sessions vs. Individual Users
- New Traffic Percentage vs. Returning Traffic Percentage
- Demographics and Geography
- Traffic Acquisition – where is your traffic coming from? Is it being driven by your social media campaigns? Is organic search or paid search driving more traffic to your site?
- Devices and Technology – how are your customers accessing your site? Are they accessing more often via desktop, mobile or tablet? Is your website optimized for your top user access point?
This information doesn’t cost you anything to ascertain, and you can utilize it to make educated decisions for your business going into 2017 and beyond.
- Consider Cutting Payroll – This is often an extremely difficult thing to do, but if your business did not turn a profit in 2016 and you find yourself overextended in payroll, restructuring your staffing can cut costs and save you precious cash flow — cash flow that you can push towards marketing, increased inventory expenditures, operations, or any other area that may benefit from an influx of capital.
- Partnerships – This is all about networking with fellow business owners in your area. Seek out businesses that are similar to yours, and partner with them to cross-promote each other’s products or services. It could even be beneficial to hire a cover letter writing service to promote yourself or business properly to a potential partner. If you sell household appliances and there is an installation service in your area, give them a call and see how you can work out a deal to help each other. It may sound like a small thing, but even if the results of this outreach add up to four additional sales or clients per year, that’s four additional clients that you didn’t have last year. Remember, Rome wasn’t built in a day.
- Change Up Your Marketing Strategy – If your marketing results for 2016 were lackluster, you will need to really take a look at what you’re missing if you want to see different results in the new year. This does not mean you have to employ an entire new marketing strategy, but you will need to assess where your marketing efforts gave you some return on investment and where they did not. Duplicate your successes going into the new year and scrap anything that didn’t get you the conversions that you were looking for. Your marketing efforts should be driving new revenue and repeat business for your company at a measured cost.
Here’s to a prosperous and rewarding 2017!