Are you a business in the start-up stage, or the early growth stage? Naturally, you will want to achieve success as early as possible. But what is the best way in which to gain success while your business is still finding its feet? For this, we asked TechQuarters, a company that provides IT support services London businesses ranging from SMB to corporate enterprise level have been relying on for more than 10 years now – and the company started out in the CEO’s back bedroom, with a couple of collaborators.
Any business can succeed by adhering to a few basic principles. Remember, a good idea is all it takes to start a business, but a good idea alone does not make a successful business. Planning, organization, and collaboration are just a few of the key aspects of a successful organization. So, if you have a small business, below are some great tips to help you achieve success in the early stages…
1. Keep Excellent Accounts
If you are a small business founder, then you have probably been wearing many different hats. Not only are you the top decision-maker in the business, but you have also probably been presiding over marketing and promotion, general administration, possibly even customer service, information technology, and accounting.
As you grow, you will naturally hire talent to manage all these areas, but in the meantime, you need to be managing everything as well as they would – because this will set the foundations for future work and make success easier. This is especially true with your accounts.
Your accounts are all of the financial records associated with the business. Having detailed financial records is not only essential, but it has many benefits. To start with, financial records must be reviewed for any audits, or compliance checks that are performed against you – ensuring your accounts are accurate, consistent, and detailed will make this process much easier.
What is more, keeping detailed accounts ensures you will always know the business’ health. It can help you identify potential challenges, and make predictions for the future of your business.
Finally, it is worth considering noting for any business that may want to seek funding or investment that the more comprehensive and detailed your financial records are, the more trustworthy you will be in the eyes of investors. The strength of your business will be easier to quantify with detailed accounts – and the strength of a business is a major factor for investors.
2. Devise a Strong Digital Marketing Plan
It is widely agreed that Digital Marketing is the way in which all businesses will eventually market themselves to target audiences and customers. With the increasing dependence of both individuals and organizations on technology, it makes sense that digital efforts will have the biggest impact.
Digital Marketing encompasses a diverse area of disciplines and focuses, but to name a few of the biggest ones, there are:
- Social Media
- Search Engine Optimization
- Website User Experience
We all know how popular and widely used social media is – in fact, half of the entire global population uses at least one type of social media. Not only is it an excellent way to connect directly with target audiences, it is also a great source of data – you can gain valuable information on demographics, customer trends, buying behavior, what content is popular, etc. Similarly, search engines are a rich source of data and one of the most common customer contact points (considering most people use search engines when browsing the internet). If the point of social media and search engine optimization is to direct audiences to your brand, that means you must have a website that is attractive, professional, and easy to use – thus Website UX should be a critical aspect of your digital marketing strategy.
By devising a strong Digital Marketing Plan, you will have the best chance of discovered by your target audience. In the best-case scenario, this will in turn lead to the maximum conversion of leads into customers, provided you adhere to the following tip…
3. Implement Customer Relationship Management
CRM is one of the secrets of all successful businesses. The mark of a successful business is often how loyal its customers are, and how effectively they can convert incoming leads into customers – and these two factors are the primary focus of customer relationship management systems.
CRM systems usually web-based apps and services, whose primary function is to integrate the data and resources of a business’ Marketing department, Sales and Business Development departments, and their Customer Service department. These three areas of the business are critical for attracting target audiences, turning them into customers, and then further turning customers into brand advocates – a lifecycle that is much easier to achieve when the resources of each department are connected with a CRM system.
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