Is your business stuck in a rut? Have you reached a plateau where you feel you are doing more work with less results? It may be time for you to shake things up. If you do what you’ve always done, you’ll get what you’ve always got.
You may be hesitant to change anything up too drastically. You may have spent a long time and a lot of hard work building your business to the point of having a regular client base and consistent income, and you don’t want to do anything that risks losing this.
Here are some easy tips and changes to take your business to the next level without losing what you have already worked hard to achieve.
Set Clear Goals
Setting a goal is a great way of motivating yourself to make positive changes. It is too easy to just vaguely think, “I need to eat better/exercise more/make more money” and never actually take the steps needed to achieve this goal.
You need to be able to explain your goals with clarity to your clients, employees, and prospects. Use the SMART model to ensure your goals are
Setting a time-based goal can shake you out of complacency and force you to stop procrastinating. For example, you could say, “I want to increase monthly profits by 15% by the end of the year.”
Even if you do not reach this goal and only increase profits by 10%, this is still an increase that you probably would not have achieved without the goal being set!
Send Out Regular Newsletters
Taking your business to the next level may require regaining the interest of previous clients who haven’t hired your services or purchased your products for a while.
Often, this is simply due to you “dropping off their radar.” You will be well aware of how busy life can get, especially for any clients who may also be business owners!
Sometimes simply sending out a newsletter (either via email or post) mentioning what your business has been up to recently and detailing your prices can jog your clients’ memory of what a great job you did for them and lead them to contact you for more work.
Studies show that it often takes 7 to 10 times for a prospect to see your brand before they make a purchase. Ask for your prospects’ emails in exchange for valuable information, samples, or an e-book.
Use a Digital Marketing Solution
If you want to attract new and profitable clients to replace your old lower-paying clients, consider offering more services. By offering new services and marketing yourself to new audiences, you can increase profits and build up a stronger business.
Learning digital marketing tips (such as SEO strategies) can open up brand new markets and segments, expanding your potential pool of clients. You want to ensure that you don’t lose your existing customers by only focusing on new clients.
Consider outsourcing to a white label SEO reseller program. This can offer a significant ROI by bringing you new prospects and giving you the opportunity to focus on what you do best!
Create a Referral System
Engage your customers and clients and ask them to see what you can do better. Then empower them to essentially be your best sales team! According to survey by SmallBixTrends, 85 percent of small businesses get customers through word-of-mouth.
Give your clients an incentive to send you referrals. Through referral programs, you can amplify the results word-of-mouth brings. This is one of the fastest ways to grow your business, by having your clients be your top brand evangelist.
The easiest way to start a referral program is by simply asking your current customers to tell their friends about you if they’re happy with your services. Make them feel part of the family and create an awards program. For every client or customer sent your way, reward them with something simple as a thank-you card, a gift card, special discounts, or beta access to new products or services.
Update your Pricing Model
If you cannot change your business model or fit more work into your schedule, you may have to adjust your prices. Look at market prices and ensure that you remain competitive but are not giving away your services.
Look at bundling services or products or adding ala cart services to bring in additional income. This in effect can help you raise your rates without seeming as though it is the same product for service for just a higher price.
It is important however that you communicate clearly any price changes to your clients. Sending out new prices with a slight increase to all your clients can be a simple way to boost profit. If a client tells you they cannot afford the new price, then make sure to negotiate with them.
Even if only one client ends up paying the full new cost, you have still increased profits. You may also be able to replace clients with new clients who can afford to pay you more.