5 Tips for Business Owners in 2020
A new year and a new decade mean it's time to step up your marketing efforts and security if you want to see increased profits in 2020 and beyond. That means embracing new avenues and methods of drawing in potential customers. From using customer relationship management (CRM) tools and investing in identity theft protection to using video marketing and taking better care of your employees, there are plenty of ways to help boost profits this year. Here are five tips for business owners in 2020:
1. Use Customer Relationship Management (CRM) Tools
Implementing CRM tools into your sales strategy is a great way to boost profits because this kind of software allows companies to attract, retain and nurture customers all in one convenient interface. CRM is the fastest-growing software on the market, most likely because it provides a return on investment of about $8.71 for every dollar invested. Other benefits of using CRM software include automated outreach activities, a better understanding of each of your customers' needs, the ability to build stronger relationships with your customers and prospects, and improved analytics and performance reporting.
2. Invest in Identity Theft Prevention
Investing in identity theft prevention can help cover some of the costs associated with identity theft so that if someone in your company becomes a victim, you can minimize loss. With identity theft protection from a comprehensive service like LifeLock, you'll get bank account application alerts, monthly credit score tracking, online annual credit reports and scores, breach notifications, and monitoring and alerts for your Social Security number, credit and financial accounts. You can also get alerts for online payday loans, unauthorized USPS address changes, monitoring of your information on the dark web, and privacy monitoring. You can save on your protection by taking advantage of their current promotion and saving up to 25 percent off your first year of identity theft protection. With a variety of plans to choose from, you'll be able to select the plan that best suits you and your team.
3. Use Video Marketing
Video marketing is quickly gaining traction as one of the most popular marketing methods in the digital marketing space. Incorporating video marketing into your marketing efforts can help your company boost conversions by giving customers easy-to-digest information that helps them make an informed decision when it comes to making a purchasing decision. Create product demonstrations, product comparisons, and how-to videos, and reach out to influencers that can help highlight why your products are better than the competition. Let them know exactly how they'll benefit from using your products and how your products can improve their lives.
4. Consider Content Marketing
Content marketing is another form of marketing that can help you draw in more leads and convert those leads into paying customers. This kind of marketing produces three times more leads than paid search and companies that publish 16 articles per month produce 4.5 times as many leads than brands that publish four articles per month. Make sure that when you're producing content you're not just focused on volume. The content you create must be relevant to your target audience if you want to be effective with your efforts and provide value. Before you begin creating content, research your audience and use keyword research to help you provide content that's easily searchable for potential customers. And be sure to create a variety of content, both long-form and short-form content, to make the most of your efforts.
5. Take Care of Your People
Taking care of your people means creating an environment and culture that people want to work in so that you can increase profitability and meet your sales goals. The best ways to make sure you're doing that include communicating consistently and openly, allowing flexible scheduling, and making sure health and wellness is an important part of your company culture. When you take care of your people, they'll take care of your customers. A happy and healthy work culture and environment make for a much more productive and results-driven staff. Employees who are generally happy have out-produced unhappy ones by an average of 12 percent. So make every effort to ensure your employees are happy and healthy and you'll start seeing an increase in productivity.
By incorporating these tips into your business this year, you can run a more secure and even more profitable company. From keeping your employees happy and healthy and implementing content marketing to using video marketing and investing in identity theft prevention measures, these tips will help you boost income and leverage the most powerful marketing tools to ensure your company's success.
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