It’s never a bad time to step back and take a look at what could make your company better. It’s easy to forget that there’s always room for improvement when you’ve been running your business the same way for a long time. But, now is the time to evaluate your business. It’s a good idea to rethink your marketing objectives every so often, so your company stays relevant and your consumers don’t forget about it. If you need some tips for how to re-evaluate your company goals, here are some to get you started.
1. Dust off the cobwebs to stay relevant.
Your business goes stale when your marketing platform does. In today’s world, your online presence should be the main element of your marketing platform. In order to stay relevant with the latest technology and to gain new consumers, you need to create and update your social media accounts. Stay with the times! Make a Facebook page and Instagram and Twitter accounts for your company. This is how consumers stay up to date on your company’s affairs.
Is your company having a big sale this weekend? Post it on Facebook. Is your business going to feature new products in the next month? Post them on Instagram. You will gain followers and customers by doing this. There is also potential for gaining business partners this way. There are so many positives that can result from having a social media presence, so why not take advantage of it? These are smart goals that are easily achievable and your company will thrive in the process.
2. Pay attention to your consumers.
Your customers are the most important part of your company. Without them, you wouldn’t be in business. So, when you’re figuring out how to evaluate your company, think about what they might want from you. Depending on what kinds of products and services your company provides, the simplest plan may be to have your customers take a short survey. Or, if you are in the presence of your clients as they are spending their money at your establishment, just simply ask them if there is anything that can be improved upon. Your customers will feel valued, and will be glad knowing that their opinion means something to you. Plus, you will be getting feedback right from the source.
3. Refresh your brand.
Don’t stop re-evaluating things in the shallow end. Go deeper into what really matters for your company. Your brand is a really viable aspect of your business. It attracts consumers and states what your company is all about. Is your brand up to date? Does it reflect everything you want it to? What does your slogan say about your company? Refreshing and updating your brand is always a good strategy to consider.
Many companies have used a variety of different slogans over the years to tailor their brand messages and stay relevant to consumers. Doing so is part of what makes them successful. If your slogan needs a change, don’t waste any time. A refresher is never a bad thing.
4. Make sure your company goals are specific.
No matter how long your company has been in business, it’s important to remember the goals you initially had for both the company and for yourself. Has your company met these specific measurables? If not, think about ways you can reach them. The sky’s the limit. Don’t settle for less than you and your company deserve. Make little adjustments when you evaluate your business plan to suit your needs. If you want more consumers, go out and get them. Advertise more often. Spend some extra money to get a billboard on the busiest highway. Spread the word through social media. If you want to franchise, start financing. Even if you don’t have the money to spend right now on every single little thing that needs an adjustment, making a few changes will keep you in the right direction.
5. You have to spend money to earn money.
Don’t overspend, but don’t forget that you need to spend money in order to have a thriving business. You need to spend a decent amount of money on supplies for your products. You also need to spend money on the upkeep of your brick-and-mortar locations. Keeping things clean and looking nice is just as important as the products you are selling. You will attract and keep customers by caring about the aesthetics of your company. This requires a lot of strategic planning to get right but people will always be impressed by what pleases their eye if you do plan correctly.
If you’re looking for more ways to evaluate a company, contact us at Ballantine today. We’ll provide more examples and information that will help your business succeed!
I'm the Director of Digital Services and Partner at Ballantine, a family-owned and operated direct mail & digital marketing company based in New Jersey. and started in 1966 by my great uncle!