Ok, so New Year New Plan?
Starting a new year in business is never quite the same as making changes to your personal goals or plans to be a better person in general (as so many of us try). Business requires a great deal more discipline than making an exercise routine or establishing new daily strategies.
Everyone has great intentions of improving business projects year after year, but rarely do they go as planned. 2020 proved to be difficult for every business owner I know and so far 2021 doesn't appear to have changed any. That's where your creativity and genius ideas come into play.
If you are struggling with ideas, it is always good to use the phrase "if money were no object, what could you do"? Make a list of approaches you want to take and the outcomes it would achieve. Then RESEARCH (very important to any marketing strategy) what the cost would be. Chances are, you will find it is easier and sometimes cheaper that you thought.
Reducing unnecessary costs may give you just enough extra to try something unique. Take the time to go through expenses (tax time is the perfect time). Find anything that isn't directly helping promote profit and get rid of it. Every little bit counts when it comes to expenses and reducing frivolous costs that are being wasted are an important first step.
Advertising is essential, get your name out there!
1. Even a small amount of advertising could increase your incoming sales by enough to improve profit levels. If money is an issue, try to make your own flyers and hand out in public areas or deliver to houses in neighborhoods. Door hangers are rarely used anymore, but from experience they WORK!
2. As the weather breaks, consider doing vendors tables at local events. The cost of the table will far outweigh the connections you can make. Make sure to send out your most personable employees to get the best results. Think of something creative to get the most impact.
3. Customer loyalty is a great way to keep existing customers. Compile a list of all current customers and create a promo just for them. Send out postcards or emails letting them know about the new program.
Whatever method of advertising you do, make sure to track the results and only repeat if effective. Always be willing to try something different to spark new interest and increase sales.