How-To Add Value To Your Business

adding value to business

Adding value to your business is essential. I am sure that you have heard it before.
When I started my business, adding value seemed like a mystery.

What is that? Where do I start?

After trial and error, I found what successfully adds value to my business. This article explains a few tricks that worked for me. If you are searching for ways to add value, I suggest trying these techniques.

Respond to Calls, Texts, and Emails ASAP

Strong communication skills are necessary in every relationship. If you aren’t responding within 24 hours you could be severely hurting your business. Your clients should be a priority. Prompt communication is one of the best ways to ensure clients that they are important.

Increase Speed of Production

One of the reasons that I left my previous company was that everything took FOREVER to get done! It was extremely frustrating. After experiencing slow performance, I made it a priority to produce websites within one to two months.

If you are increasing your production speed, you can also get more work done which leads to increased revenue.

Offer Discounts and Rewards

Discounts can come in many forms. If you are an ecommerce company, you might choose to send seasonal coupons through email. Coffee shops often use punch cards.

I provide a $100 reward for current clients who provide a referral that totals over $1,500 in revenue, and a $50 reward for over $1,000. I also provide free SEO audits to potential clients.

Improve the Quality of Your Product

If you want to be a high-quality business, provide a high-quality product. Don’t skip corners.

As a website developer, I try to build the highest quality websites as possible. I also make sure that my clients are 100% satisfied before I complete the job.

Make sure that your clients are happy. Pay attention to your reviews on social media and Google, and provide feedback. Customers occasionally improve reviews if you put in an effort to solve the problem.

Keep Your Technical Skills Up-To-Date

Technology is always advancing. Don’t let yourself get out-of-date.

One of the best examples for every business is responsive design websites. Responsive design websites fit to your mobile device. If you have not yet built a website that is compatible with phones and tablets, you could be missing out on business.

As a website developer, I require the knowledge to convert websites to be compatible with mobile devices.

Adding value is essential when you map your way to business success. Determine your business goals to get started. Contact Get Global Marketing for help with your online marketing.

5 Reasons for Stagnation in a Business

business stagnation

“Stagnation” is a scary word for most business owners. However, at some point almost every business hits a rough patch. It is important to evaluate your business processes when this occurs. The following are a few common reasons that you may experience stagnation within your business:

Trying to Do Everything Yourself

No one can do everything. As a business owner, you can’t manage social media, perform the hiring, clean the bathrooms, and do accounting – or at least you cannot do it all well!

Many companies are stagnant because business owners try to do everything themselves. Know when it is time to hire an employee. Sure, another employee means more payroll but sometimes growing your team is the only way to increase a company’s revenue. Be realistic with what you can do.

Unfamiliar with Customers

Are you pumping out thousands of dollars in ads and still not getting results? The problem could be that you do not know your customers. Before you create another ad, perform thorough market research.

Priorities of a Market Analysis

  • Gender
  • Age
  • Demographics
  • Location
  • Professions
  • Estimated market size
  • Key communication channel

Lack of Capital

Most entrepreneurs avoid taking out loans unless absolutely necessary. However, you have to spend money to make money! Sometimes a loan is necessary to purchase equipment that can advance business operations. A smart purchase can be an investment toward your business and put you ahead.

Loans for Small Business Owners:

  • Fundbox
  • Kabbage
  • Quarterspot
  • Bluevine

No Defined Niche

No business can be all things to all people. If your business is stagnant than your target audience might be too broad. Try narrowing down your audience so you know exactly who you want to do business with.

For example, as the owner of a website development and online marketing company, I had to establish the type of companies that I want to work with. While I realize I could make more money with large businesses, they are not my niche. I market toward businesses that have 5 or fewer employees, or other independent contractors.

Poorly Trained Employees

Your employees are essential to your business growth. If they are not trained to do their jobs then your company will remain stagnant.

For example, if you rely on salespeople at your company, make sure you have provided them with all of the product information, tools, and training to do their jobs well.

Stagnation is normal in every business. Keep these five key areas in mind when your business pauses in growth. Get Global Marketing can perform a full market analysis of your customers.