The start of the new year brings many things. For most of us, this means a new start, a clean slate and the ability to move forward. Whether this ends up being the case, the mindset it provides us with is important. The concept of refreshment and re-evaluation is key for a small business, especially ones with big goals.
Whether 2016 was a successful year for your company or not, the beginning of the new year is the perfect time to refresh your brand, tune your focus and begin the year correctly. A company refreshment, no matter how large or small, can be hugely beneficial. It has the potential to re-define your vision, re-align your brand, ensures consistency and overall encourages more growth. Keep reading to find out what you can do to keep your business current in 2017.
Reach out to your Clients
Far too many companies choose to leave outsiders out of the picture when it comes to their business strategy. For a lot of us, this may seem like a logical decision – preventing competitors from overtaking you. Although, this approach when linked to customers can have much more of a stifling effect. It creates a distance between your clients and your company that is off putting and can lead to distrust.
Now is the perfect time to refresh customer loyalty and strengthen emotional ties. Consider posting a blog or sending out an email summarizing your goals and actives for the past and coming months, ensuring to thank your clients for doing what they can do have made it possible. Sharing similar information via social media is a great way to form that connection quickly and effectively, whilst saving time and keeping a little bit of distance and opacity that is required in these sorts of situations.
If you are a small company, or a new business, you may be stuck in a rut regarding who you’re reaching. Similarly, you may not even be aware of the markets you are missing out on. The goal for growth in a small business is only achieved by innovation, and targeting new markets and clients who can make use of your products and services is a sure-fire way to get the ball rolling.
Take time to review who your current target markets are, where you are focusing your marketing and where the majority of your sales are coming from. You may be surprised to find a larger gap than you initially thought – and may even be exposed to discrepancies that you could not have even predicted. With this information, begin to draw conclusions regarding what areas you may need to begin approaching more aggressively. As well as which audiences aren’t receiving the attention they may deserve.
Reevaluating costs is an imperative business practice. It should be done frequently and often throughout the year, but the beginning of the year is the perfect time to get into the habit. Even the most successful of companies can feel the pain of pulling the purse strings just that little bit tighter. However, to improve your odds of success financially, you need to take that leap into your expenses.
There will be many expenses that you can’t do anything about. However, even the most minor of changes can add up greatly over the course of the year. Look for unnecessary or perhaps redundant expenses (that won’t compromise morale) and make some changes for the new year.
Experiment with your marketing
The way in which you market the products and services that you offer either facilitates or hinders your company’s growth. With so many options out there (expressly digital), there’s guaranteed to be at least one strategy that you have yet to consider.
Instead of doing the same thing day in day out, consider what your current marketing strategy may be lacking. Keep in mind that you may not necessarily be doing anything wrong, you may just need a few tweaks here and there. Take time to identify your potential drawbacks and you can find that pathway that guides you forward in the new year.
Get in the habit of coming up with new ideas
When things are going well, it’s easy to fall back into old patterns and rhythms, especially as the year chugs along. Remember however that no business can grow without changing, even if it is in only minor ways. The beginning of the new year is the perfect time to start getting into the habit of brainstorming and creating new ideas. This also aids in forcing you to retain focus on key goals and objectives, as well as allowing you to stay on top of research, development and improvement in both new and old areas of your business.
Consider taking team suggestions, or opening the floor to clients. Take one of the ideas offered, even if it is the smallest, and implement it. It shows that you not only listen to feedback, but that you are just as focused as those around you in moving forward.
A company refresh offers several benefits, provides you with a new perspective on your own identity as well as that of your company’s, and allows you to foster connections with current and new customers. It’s safe to say you’d like to do far more than simply exist in the new year, and this is your chance to start moving things along. By changing up marketing, building better relationships and launching small changes in products, services, or even the way you run the company, you can ensure that your 2017 will be anything but stagnant.