Scaling and sustainability will continue to be the main focus for small business owners. There are many ways to increase revenue, attract top talent, instill a healthy culture, and satisfy customers.
Here are 10 business New Year’s resolutions to consider for a successful 2023.
1. Continue to build a strong digital footprint: Apart from having a website, make sure you are building a solid content marketing strategy that will help you create valuable content that drives engagement and sales. please confirm.
2. Promote your business consistently: Instead of waiting for the holiday season to drive big promotions, find ways to creatively promote your business year-round. This keeps your target customer in mind. In fact, 62% of his consumers share online deals with friends, exposing brands to a wider audience.
3. Personalize the Entire Buyer Journey: Gone are the days of communicating “on the fly” with the hope that your target audience will buy from you. Know that 71% of consumers complained that their shopping experience was not personal. Therefore, we personalize the buyer’s journey by offering products/services based on the customer’s purchasing behavior and offering complementary items for the buyer to consider.
4. Adopt an effective technology stack: Understand that every technology you use to communicate with your customers, from social media to email marketing, should effectively impact your business goals.
5. Reduce costs: Reduce costs wherever possible without compromising quality.
According to the U.S. Bureau of Labor Statistics, about a third of small businesses fail because their owners don’t have enough money. Reducing costs does not mean focusing only on overhead. There are many ways to reduce spending while driving growth.
6. Have a positive work culture: Employees are the lifeblood of the company.
Every day, they contribute to the success of your business by supporting its mission. From the quality of the people you hire to the loyalty of your consumers, company culture is critical to nearly every aspect of your business’ long-term success. In fact, according to a Duke University survey, more than 94% of his executives say a clear business culture is important to business success.
7. Drive customer reviews: Reputation means everything, especially for small business owners looking to attract and retain customers. Nearly 81% of consumers say they should trust a brand before purchasing a product or service. You want your customers to know that your business is trustworthy, ethical, and transparent. There’s no better way to tell that story than online customer reviews.
8. Be transparent: Operating with transparency builds relationships that turn curious viewers into buyers and buyers into enthusiastic fans. About 85% of Americans report that they would support a company during a brand crisis if the company’s history was transparent.
From admitting and correcting mistakes to inviting customers to engage with us online and through social media, we remain transparent. Genuine client interactions go a long way in building customer trust.
9. Be purposeful: Understanding what matters most to your customers allows you to leverage their value in your company materials. This can further demonstrate that you care about the community and not just a “for profit” company. In other words, you are a purpose-driven company seeking greater impact than just sales. According to a Cone/Porter Novelli survey, 66% of consumers say they are willing to switch from regular products to new products from purpose-driven companies. Share the moment on social media and don’t be shy to show how your brand is committed to making a difference.
10. Build Trust: Building trust is essential to earning customer trust. When shopping, buyers have many options at their disposal. As a result of this accessibility, customers can now be more careful when choosing which brands to support. The best way to increase client loyalty and ensure company success is to build a company based on trust and integrity. Keeping your business ahead of the competition is always desirable and pursuing BBB accreditation is a worthwhile way to do this. Exceptional reliability, customer respect and integrity are required.
As small business owners step into 2023, they know that keeping their customers first by aligning their growth initiatives with personalizing their buying journey will drive revenue while increasing business visibility. Please know.
Rick Walz is president and CEO of the Better Business Bureau Serving Northern Indiana, which serves 23 northern counties.