Life as a small business owner or entrepreneur is all at once thrilling and stressful, full of new challenges and expectations. With three months under your belt in the new year, now is the perfect time to take a look at what worked in the past, and what improvements can be made for the future. Success can hinge on the ability to adjust and evaluate, so take a look at these tips that can help your small business flourish throughout 2017 and beyond.
Step Up Your Online Presence – A strong digital footprint is essential for businesses of any size, but small businesses especially need to make sure they’re getting the most out of an online presence. Your website and social media game needs to be strong, with clear brand communication and persuasive content. Target posts and tweets to make sure you know your online audience; you don’t have to be everywhere, just where you know they’ll be. And make sure your SEO strategy casts a wide net, as accessibility leads to higher exposure.
Connecting Customers – More and more, customers don’t want to feel like they’re being sold something; they’d rather be connected to something instead. The connection economy rewards value in building relationships rather than transactions. Look to examples like Uber and Facebook as companies that connect consumer to desired content. Facebook is the largest media company in the world, yet they create no content. Uber, the largest “taxi” company, own no vehicles. Connectivity as a business concept will only grow in the years to come, and it’s up to small business owners to take advantage of the opportunities this business model brings.
Be Smart Data-Driven – A growing trend in business is the urge to become data-driven. While the concept has some merit, make sure company decisions are being made by you and not inflexible data analytics. There’s nothing wrong with data-born insights advising the choices you make, but small businesses need to also rely on their best piece of insight – the knowledge and opinions of the trusted personnel that got you this far in business. Let big data inform you, not overrun you.
Customize – One-size-fits-all is becoming an outdated approach in business, and small businesses should integrate specialization into their model. Focusing on smaller, specific audiences will lead to success in customer engagement, as this approach fosters personal attention and a better chance of brand evangelizing by a loyal base.
Paycor is a small business owner and entrepreneur's best friend. Check out some of our other articles for business owners, or take a look at our entrepreneur's guide to using technology to take your small business strategy to the next level. As always, if you have questions, contact us and learn how we can help.