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3 Tips For Strategic Business Growth In The New Year

 

The New Year is officially in full swing, and business owners are hunting for ways to make it the best year yet for their businesses. Looking ahead in 2016, consider how these three tips can help you strategically strengthen your brand and keep you focused on business growth in the year ahead.

Tip #1: Let the Past Help Your Future 

While it’s never a good idea to live in the past, reflecting on your previous business successes and failures can help you make strides towards new goals. Don’t charge forward with plans for the new year until you make a complete and honest accounting of what came before.

Whether you want to increase customer loyalty or brand recognition in 2016, or broaden your customer reach, how can past experiences help you make smarter decisions as you plot out your growth plans this year? Learn the lessons from your past, and apply them into building a stronger future for your business.

Tip #2: Utilize Data to Strengthen Marketing Efforts

Did you know that Facebook offers free data for any business page profile you manage? In fact, you can gain data from your social media efforts on nearly all social media channels available — and most often, this is free to utilize.

Additionally, email marketing companies such as Constant Contact and Email Contact also offer data for their users to review based on past email marketing campaigns both individually and as an analysis of like-minded businesses. You can discover when your subscribers open your emails or whether or not they dismiss them entirely. Plus, find out what time and what day of the week has the strongest success rate of people reviewing emails sent, and much more.

Here’s the catch. Email marketing, social media, and various other marketing efforts allow you to review the return on your efforts based on data collected. The key is, however, you actually have to review it. And then analyze it. And then apply necessary changes to strengthen your efforts. Is it turn-key? No. Is it worth taking the time to do? Yes.

Tip #3: Invest In Updated Technologies and Resources

The saying that goes “you have to spend a little to get a lot” couldn’t be more true when it comes to business. Time and time again, businesses of all shapes and sizes shy away from investing money in new technologies or even updated features to existing software or other business equipment. And time and time again, this has haunted business owners who choose to save some immediate cash versus invest in resources and technologies that would help them grow their business.

What’s on your 2016 wish-list of the latest and greatest upgrades that could help your unique business? Possibly it’s an updated point of sale (POS) system. Maybe it’s adding a second store location. Or possibly it’s investing in new vendors and inventory that will better meet the demands of your always changing consumer audience.

Whatever your investment wish is, consider how you can make it a reality. Utilizing business capital can often help with this — offering you nearly immediate funds to get the ball rolling and more importantly, helping your business grow to where it needs to be.