It is without a doubt that the lackluster economic situation, coupled with the nation’s “wait-and-see” attitude during the presidential election, has placed many businesses in difficult positions. But the turn of the New Year will enable NYC businesses to turn over a new leaf.
As 2012 quickly comes to a close, it is a good time to reflect upon your business strategies over the past year, and evaluate what has worked and what hasn’t. Now you can get on your way to incorporating new and successful initiatives. Below are some tried and proven tactics designed to help you cut costs, improve customer relations, and generate new leads to guarantee a solid foundation for 2013 financial success.
1. Not only establish, but abide by a concrete strategic plan
It is essential to have a thorough plan mapped out prior to performing any action, in order for your business to thrive. Once a clear goal and thought-out initiative are established, further actions will stem from there. What services are being offered? What exactly are the prices and dates? Who is the target audience?—Focusing on every aspect will provide the foundation for the sales plan, which in turn will generate a comprehensive marketing strategy. Adapt your plan accordingly based on seasons, holidays, and local or global factors that could contribute to what you are selling. Gain an understanding of each segment’s demands, and make sure to properly balance your budgets. But most importantly—stick to it. It is common for businesses to have a plan, but most neglect to follow it. Make a New Year’s resolution to abandon your “just do it” attitude, and follow your strategic plan closely…you’ll be surprised to see where it may lead.
2. Become your target audience
Each product and service targets different market audiences and can cater to a variety of needs and expectations. Ditch the sales pitch, and get in the mindset of your target audience. Immerse yourself in their culture and keep up to date with all their interests. What shows does your target audience follow? What news/trends are they following? Think like them; act like them; talk like them. Adopting your audience’s attitude will enable you to increase your customer base and sales. People don’t always want to feel like they are being sweetened into making a purchase… get on their level and gain their trust—familiarity goes a long way.
2013 will be the year of technology, and if you haven’t already, it is vital to establish a solid social media strategy. Take advantage of social media platforms, and reach out to your audience via Facebook and Twitter. Keep your content consistent and friendly, and offer tips, advice, and fun facts.
Take the following into consideration:
• Is your website easy to navigate and are the pages user-friendly?
• Is the content clear, concise and downloadable for each type of targeted client?
• Is your company blog up to date, and are your tweets and status updates recent?
• Does your office offer free Wi-Fi to customers?
Identifying those specific needs and tailoring it to your clients are key components to establishing a long and lucrative relationship.
3. Keep your clients close, but your competition closer
To fully comprehend where the bar in your industry is set, you must be aware of your surrounding competition. Don’t just set it, don’t limbo under it, but long-jump over it! Paying an undercover visit, or even a phone call, to your opponent’s office will enable you to make proper changes to yours. A stealthy, yet impartial assessment will provide you that much needed leg-up when restructuring your own services and rates. That way, you can ensure that you are offering the best services in the surrounding area.
The following are some of the factors to consider when revamping your business for the better:
• How were you greeted upon arrival?
• What was your first impression?
• Was the staff friendly and well-groomed?
• Did the building appear to be properly maintained?
What are some of your New Years resolutions to better your business in 2013?
REEDC is offering brand new courses for the New Year. You can start your New Year’s resolution now, by registering for courses at our promotional rates.