Categories: Business Plans

Up Your Business Game, and See the Results

Businesses are wasting time, energy and opportunities every day. Management and Organization are the two most crucial elements for increasing the productivity of employees and therefore your business and profits. The damage you suffer when your business is not working properly is great and difficult to calculate. How does your business work? Do managers and superiors know what to do? Do they communicate properly with employees and with each other? Do they effectively motivate employees? Do they solve the problems that arise? Is there a good atmosphere between individuals and departments? Is everyone doing their job properly? Discover what you can do better, simpler, and easier.

Photo: Unsplash

Setting goals for you and your team

In different cases the counting of goals may require the use of special tools. One of the most common goals we set in collaboration with our customers is how many and what people end up on the business website. It is important for a company to know how many people visit its website, what people they are and what they do while on the page (eg which products they look at most often, how long they stay there, etc.). In the case of online stores, counting can be even more complicated. The simplest is to measure various items for the upcoming sales (number, average order cost, etc). Beyond that, you can go deeper into your data and see statistics on the media that brought about each sale (eg. Did it come from Social Media? Did it come from search advertising? Did it come from a newsletter we sent?), the average business benefit per communication channel and much more. For great analytics, you should look at

Compare PostgreSQL vs. MySQL

.

Look at a SWOT Analysis

This can be used as the main tool for achieving self-criticism both at business and personal level. The SWOT analysis is the careful introspection and recording of our strengths and weaknesses, as well as the effort to anticipate in order to take advantage of the favorable opportunities and to deal with the possible risks that may arise in the near future. In order to have a correct SWOT analysis, we must ask the right questions and answer them objectively. The SWOT analysis is essentially a diagram in which we record the following four categories of important characteristics.

a) S = Strengths (our strengths)

What are our strengths/weaknesses?

At what points do our competitors believe that we are superior?

Are there financial resources and goods that we can use to our advantage?

What are the particular characteristics that define us and can be identified as a competitive advantage?

b) W = Weakness (our weaknesses)

What could we improve on our personality/business / product?

What characteristics do those around us perceive as a weakness?

In what areas are we lagging behind the competition?

Lack of resources and funds

c) Ο = Opportunities (identification of opportunities that can benefit us)

Predicting changes in technological issues and proper preparation for their reception

Recognition and exploitation of new trends that are created both in terms of education and training, as well as issues related to business trends and new services and products

Change in the socio-economic and political developments that we can take advantage of

Development of new markets and job search in new geographical areas

d) T = Threats (threats, events that may adversely affect us)

High operating costs for a business and lack of resources for an individual

Lack of liquidity and commitment of funds to repay debts

Competitors’ moves and changes in the market sectors

Do new products and services threaten our business? Do new specialties tend to replace ours?

Marketing is going to assist your business

1. Understand your customers

Getting to know customers is the most important step in the marketing process. The more accurate your information and knowledge, the more effective the sale of the product will be. Use all the information at your disposal to understand the customer’s behavior, demographics and needs. Information will be important business decisions while allowing you to create an effective marketing plan. As Dan Zarrella writes, “marketing without information and data is like driving with your eyes closed.”

2. Observe the marketing environment

Getting to know your customer is the first and most important stage of marketing, but at the same time, you must monitor the socio-political conditions both domestically and globally. Another key tip is emerging technologies, which can allow new products to be developed while new legislation can change consumer behaviors.

Photo: Unsplash

3. Design your product or service around the customer

Once you have a marketing plan, you need to make sure that your product or service is tailored to your customers. Entrepreneurs often fall into the trap of producing the product they want to sell without taking into account what the market wants.

4. Make sure your business is running smoothly & efficiently

The process of organizing and running your business is almost as important as the product itself – make sure delivery is fast, returns are treated with courtesy, your staff welcomes them customers with a smile and a cup of coffee. Utilizing social media is going to aid you with this.

5. Advertising & Customer Communication Targeting –

Placing a few ads is not enough to get your customers’ attention. Imagine being bombarded with hundreds of marketing messages every day. You need to do something very special to make the products stand out and stand out, so make sure your messages are clear and accurate and targeted. Use both emotional and logical arguments to achieve this.

6. Invest in your people

Your staff is your most valuable asset – take care of them and give them the training they need to do their job well. However, you should not forget what marketer Seth Godin said that “marketing is not so much about the staff you create but about the stories you tell.”

7. Make sure your business space looks perfect

A good presentation is one of the biggest benefits and a huge influencing tool that builds trust, motivates your staff and makes customers feel comfortable with their decision. Think, if your house was dirty, would you call your friends?

8. Pricing Strategy

Do not simply set a price based on production costs. Pricing is a powerful tool for achieving your goals. Especially the given period of time that our country is going through. High prices mean they are likely to sell less, but can give the impression of a premium product. Make sure the pricing is part of a larger strategy that is part of your marketing plan.

(Visited 23 times, 1 visits today)
Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

Recent Posts

Gadgets You Should Consider Buying in 2021

We can't really predict what 2021 will look like, but it surely can't get any…

8 hours ago

Online Video Editor Review

Do you often make your own videos that you post onto YouTube or other social…

13 hours ago

Managing Your GMAT Prep In Times Of The Coronavirus

The tremendous impact of COVID-19 has disheveled exams and education curricula across the world. The…

17 hours ago

The Ultimate Guide to Hiding Your IP

Nowhere to run, nowhere to hide. Every Internet's description should begin with these words. Sure,…

17 hours ago

Top 5 Most Innovative Bank Mobile App

While some bank customers are still relying on paper transfers, young generations are in particular…

1 day ago

Luno launches savings wallet allowing customers to earn interest on their Bitcoin

Monday, 19 October 2020: Customers of the globally-recognized crypto platform, Luno, can now earn up…

2 days ago