7 Business Strategies Everyone Should Know About, Yet Most People Don’t
As a business owner, you will realize that some of the core business strategies and ideas don’t change over time. Technology has been revolutionizing the business environment by improving traditional business strategies. You can now get to your audience all over the world within a few seconds.
What technology does is that it eliminates most of the barriers that were hindering old school business strategies and make them more efficient. You need to adapt some of the modern business strategies if you want to compete favorably in the business world. This article presents seven proven strategies that generate real results.
You will record immediate improvements in the performance of your business if you decide to integrate some of the strategies in your business operations.
7 Business Strategies Everyone Should Know About, Yet Most People Don’t:
- Think Mobile
A 2014 survey revealed that over 60 percent of the time that people spend on digital media happens on their tablets or Smartphones. This record was a significant improvement from 50 percent in 2013. Since more people have acquired mobile devices since 2014, common sense will tell you that these figures have continued to grow. With the current reduction in the pricing of tablets and Smartphones, it is expected that close to 91 percent of Internet users will access the web through their mobile devices in 2017. This figure represents close to 2.97 billion people all over the world.
In case your business site is not mobile friendly, you will need to fix it with immediate effect. Customers now want to access your business information and check out from their mobile phones. Very few people spend their time on laptops and computers.
Instead of allowing your clients to look for you, try to get to where they are. If you can develop a mobile app for your business, it will be a plus. Make sure mobile users are on the frontline while developing your online business strategy. Take advantage of the mobile platform to move your business to the next level. This tactic applies to all small, medium-size and large enterprises.
- Remain on Top of the Game When It Comes to Customer Service
The digital world is calling for high levels of customer service from any business that wants to survive. A small complaint about your business on social media can go viral and cost the enterprise millions of dollars. On the contrary, a single positive review and feedback can turn around your business in less than one week.
One thing you must understand is that it all starts and ends with customer service. In 2017, your goal should be to implement strategies that enhance the overall customer experience. Some of them could include connecting with your clients at a personal level and paying an ear to their feedback. In the case of a grievance, make sure you address it adequately and on time. You will turn a dissatisfied customer into a euphoric one.
Make sure you understand the needs of your clients and provide customized services, products and experiences. It is a good practice to reward clients who are loyal to your brand as you benefit from their positive reviews. You could also spread the awareness of your brand, retain old customers and attract new ones from the kind of services you provide.
- Take Care of Your Employees
A discontented employee will not offer a wow experience to the customer. Remember they are the ones who interact with your clients on a one on one basis. You need to begin by satisfying the internal customers before you get to the consumers of your products. Make the employees own the brand, and you will be amazed at how they will treat customers and move sales. More than 80% of employers fail to engage their employees well, smart companies are finding unique ways to drive engagement and reinforce culture. Some business owners offer their staff a luxury vacation package on top of their regular pay. For example a trip to Greece, Singapore, Spain, Thailand, etc.
Appreciate each contribution from your team and show them that you value them. Pay them well and share in their joy and grief. Some simple acts can significantly improve the productivity of the team. Have some team building activities that will make your employees iron out their differences and work as a solid block as they aim at the attainment of the organizational goals.
- Maintain Proper Communication
Communication is key to the success of any brand. When you have a system failure, make sure you apologize to your clients on time. How you pass on your information is very critical. You may have bad news, but the way you put it across makes the difference. When you get a negative review from a client, own the failure and promise that it won’t repeat. Sometimes customers just want to hear from you. Maintaining silence when there is a problem could be a sign of rudeness. You could also put in place appropriate channels of communication like live chat that will engage your clients on a 24/7 basis.
- Innovation is Key
Try to come up with a new way of doing things. Customers are tired with entrepreneurs who do the same things in the same way over an extended period. There is a way you can add value to your products and make them more attractive. Learn from the competition and set a higher standard by coming up with unique solutions. You can present the same goods and services but package them differently. Let anyone who consumes your product for the first time have a lasting memory of the first experience with your brand.
- Community Involvement
Most investors overlook the aspect of corporate social responsibility yet it works wonders. Just share part of your profits with a needy group like an orphanage or home for the elderly. You will end up creating evangelists for your brand. Remember word of mouth is critical to the success of your business. The community will begin to take you as one of their own. Your neighbors will share news about your brand to their friends, family, and colleagues.
- Undertake a Market Survey
According to Rais Saifi, you cannot maximize the utility to your clients unless you understand their needs and what the competition has to offer. Conducting a market survey will assist you to design products that will bridge the gap that is in the market. You need to share with your clients if you want to understand their needs. Send out a research team and let them undertake an in-depth analysis of the market. It will cost you a few dollars, but the outcome will generate real results.