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Retooling Your Business for the New Year: What to Consider?
2022 has been a tumultuous year for businesses – and is ending just as quickly as it started. A new year beckons, representing 365 days of potential for your enterprise. If things feel a little stale, the new year is a brilliant chance to set things right and begin retooling your business from the ground up.
After figuring out your SMART goals for 2023, you’ll need some practicable approaches to changing things for the better; here are just a few suggestions.
One of the more impactful things you can do to prepare your business for 2023 is to re-evaluate your current business offerings. The new year presents a unique opportunity for you to refocus your strategy; in ever-changing markets and industries, this is nothing short of necessary to remain competitive.
Focus groups and market research can help you understand new developments in your market – and divine any potential gaps that you can fill with a new service or product. There may have been technological developments, which could require you to update your own to compete.
The new year is also a fantastic time for you to refresh your business’s digital presence. You may want to take the opportunity to completely renew your business branding, but you can get a better bang for your buck by creating new social media assets to reinforce your existing brand.
Social media strategy is undoubtedly crucial to expanding your business’ reach, but you shouldn’t stop there. Your website would benefit from similar treatment, in the form of updated content and strategy both front- and back-end. Google is constantly changing its criteria concerning search, as its algorithms adjust to prefer authoritative content over spam; knowing your way around keywords and content optimization is key to making your site visible.
While the internet is undeniably central to contemporary brand strategy, it is not the only avenue to reach new engagement. Offline marketing has its place in your brand strategy and the new year could be the perfect time to refresh your approach.
Offline marketing also doesn’t need to purely mean print advertisements, brochures, and leaflets. You can incorporate installations and events into your new-year brand strategy, from retail pop-ups to event sponsorships and beyond.
Service – and Rewarding Loyalty
Lastly, but perhaps most importantly, the new year is a new start for your customer engagement. Customer service is central to your business’ success, both in the conventional sense and in a wider fashion regarding the scale of your offering. Not only can you re-address customer service through revising customer support and sales strategy, but also in incentivizing repeat customers via a loyalty program or member’s club.
A new year is a year chock-full of events and occasions, which you can also use to your advantage. This makes it a perfect time to begin retooling your business. Discounts and offers for repeat customers that reflect events and holidays can bring people back, spiking your volume sales at key points in the year.