Three most popular New Year Resolutions of Small Business Owners
With the curtain about to come down upon 2014 – it’s that time of the year when we all are gearing up for the New Year festivities and carnivals. But amidst all this hula-hoop, we cannot really miss out on New Year resolutions. And if you are a business owner, then making resolutions for the next year should definitely rank high in the to-do list.
So here we are, compiling three New Year Business Resolutions that have been found in common in the list of most small business owners. Read, understand and do add in your own resolutions to the list.
1. Experiment with Marketing Strategies
When marketing has become ‘oh so dynamic’ – we cannot really tackle it if our approach continues to be stagnant and static. Although there is no fixed formula towards attaining marketing success, it’s advisable that this year we try out different marketing strategies. Al least that’ll give us the opportunity to understand what really works for our business and what doesn’t.
So in 2015: ditch the traditional marketing stratagems and go all out on the new-age marketing tactics. Implement cloud based CRM and try out multi-channel marketing through it. Experiment the different channels and zero in on a good fit for your business. Keep leveraging that medium (s) later.
2. Focus on Partner Relationships
Yes, that’s what majority of the experts have to say in common. In fact you can see the fad of partner relationships already budding now. One of the best examples to corroborate this is the cross-blogging process which has become a BIG phenomenon. Nowadays many companies are exchanging blogs once or twice a month. Plus, some have gone to the extent of inviting the managers of their partner firms to write for their own internal blogs.
Implement these initiatives or something in similar lines to this. Imagine the benefit that you’ll get. Your business will get introduced to entirely new audiences that you might not have otherwise been introduced to. Besides that, you’ll gain new, unique content for your blog every month. Amazing isn’t it?
3. Look into your Customer List
Sounds silly but most often, businesses spend a lot of time trying to sell their products to people that do not have the money or the interest to buy. These are whom we call the ‘’maybe prospects’’ or the “tire kickers’’ who take ages to pay. Separate from the real buyers, they move at the speed of a tortoise to reach the end of your sales funnel.
Now imagine the time and effort that gets wasted on these ‘will be-will be not’ prospects. Now imagine what could happen if you spend the same time and effort on the real buyers. Definitely much better sales ROI?
So this year, make it a point to look through your customer list. Determine factors, namely - customer’s budget, decision makers, and timeframe and identify the tire-kickers who take ages to pay, or who argue and quibble about every aspect.
However, overhauling your customer list doesn’t mean that you have to throw these prospects out of your database. Remember lead nurturing can be really powerful in converting the cold prospects to hot leads. So send them back to marketing for further nurturing and work upon them afresh once they are sales-ready.
Patricia is a full time CRM consultant at ConvergeHub and part-time blogger. She has earned herself quite a fame as a specialist and market expert in CRM software. In the last five year she has worked with various companies as CRM consultant to help them move their businesses to cloud. Her expertise lies in offering cloud CRM consultation, CRM customization and integration solutions to small enterprises. For last one she is engaged in building ConvergeHub, cloud-based CRM solution for SMBs, as a consultant.Follow her at Twitter: @convergehub