5 Tips For Businesses Going Into 2021
The effects of the coronavirus left a significant mark on businesses, and the impact of those effects continues as 2021 progresses. Coronavirus caught various business owners by surprise and caused a downward spiral for many companies.
The effects of the coronavirus left a significant mark on businesses, and the impact of those effects continues as 2021 progresses. Coronavirus caught various business owners by surprise and caused a downward spiral for many companies. Yelp reported that permanent business closures reached 97,966, representing 60% of closed businesses that won’t be reopening. With a new year comes new challenges that require new solutions. If you want to survive and thrive in this market, you have to become innovative. As a business owner, it’s your responsibility to plan a prepare for any problems that may arise this year, so here are five tips for your business going into 2021.
Prioritize Your Consumers
While it may be tempting to focus on your business needs and wants first, it’s crucial to remember who is giving you business. Your decisions impact your customers first-hand, so you need to make sure the changes are in their best interest. The more you cater to your clients, the more appreciated they will feel and become more loyal to your business.
One effective way to figure out your clients’ needs is to engage in a conversation with them. Ask them for any areas they particularly enjoy or dislike and consider how you could improve customer experience. Other strategies such as surveys or emails also work and serve as a more structured process. Your customers’ interests should always come first since they will make or break your business, but especially now when everyone feels unheard.
Become More Personal
Regardless of how interesting you may think you are or aren’t, customers are attracted to authenticity. Your story is essentially the business’s story. Consumers will notice how raw and genuine you are and will feel more comfortable with your brand. You’ll appear more as a friend and less as a salesperson. There are several ways you can go about promoting your story.
Incorporating your story into your social media platforms is an effective way to gain attention. You can use highlight reels, Instagram stories, or monthly posts to remind loyal customers and inform new ones. Another great way is to make a YouTube video speaking on the brand and how it came to be. The goal is to seem as genuine and authentic as possible while reaching a multitude of people.
Stay On Their Minds
Everyone understands how crucial marketing is in the business world. By staying on your customers’ minds, you’re giving your business its best fighting chance. We don’t know what’s to come in 2021, but it’s not the time to let your guard down now. Maybe your budget isn’t big enough for the marketing projects you want, but that does not mean you should stop marketing completely; it just means you have to rethink your marketing budget and strategy.
Use social media to your advantage. Studies have shown that “nearly 50% of the world’s population uses social media. That’s over 3 billion users worldwide.” Take advantage of the situation by posting daily stories, weekly posts, and interacting with your followers. Not every follower will result in a sale, but consistency is key, and your chances significantly increase with every social post.
Best Hands On Deck
If you want to give your business that competitive edge you’re looking for, you need to have the staff fit for the job. Studies show that “82 percent of consumers in the United States said they stopped doing business with a company due to a poor customer experience.” Your product quality should come right after the quality of your service. Your customers should feel respected, cared for, and listened to.
More and more people nowadays are more concerned about how they’re treated than what they’re purchasing. The service you provide should be so remarkable that it becomes a part of your brand and who you are. Your staff is a direct reflection of your business, so they should be up for the part.
Follow a Cause Bigger Than Yourself
Conscious consumers remain loyal to authentic brands and those that support a larger cause. Your business demonstrates that you care about social impact as well as making a profit. While younger generations are gravitating towards companies that do good, many also have similar considerations when choosing a place of employment.
One report, the 2006 Cone Millennial Cause Study, stated that 89% of respondents said they’d be likely to “switch from one brand to another (if price and quality are equal) if the second supports a cause.” By incorporating social impact into your company’s drive, you create opportunities for attracting and retaining loyal customers and employees with the same goals and values as you.
2021 does not have to be a repeat of last year’s problems. Learn from your mistakes, and take the time to restructure your brand to gain that competitive edge. Take these tips into consideration and watch your business beat the odds.