collaborative post // Having a business is a challenging task. You are playing a competitive game, slip on the ball and your nearest competitor will be there to score your customer. It is so easy to become irrelevant. You should never become complacent in business as that is when your nearest rival takes you out.
So that means you need to implement a lot of strategies to stay relevant and beat the competition. These strategies can come in many guises, from improving your internal operations to enhancing your marketing campaigns. To help you, here are a few ways you can stay relevant in business:
You should never stop conducting market research. This is because the market is a fickle beast, it changes all the time, and you need to react quickly to these changes. In fact, it would be best if you could preempt these changes. The only way to do that is through constant research. One of the most important things you should do is know who your customers are.
Use social media and talk to your existing customers as often as you can. Get feedback and read comments and discover how your customers are evolving. The more you can cater your products and marketing material to their tastes, the more likely it is that you will stay relevant.
Relevance is dependent on your ability to research the market, adapt to it and merge and mould with the times. If you cannot do this, you will fall behind and lose out.
If you have a lot of slow and redundant tasks in your business, then you are not going to be as productive as your competitors. Automation allows your business to become far more efficient, and efficiency is one of the ways you stay relevant. You can’t expect to stay with the times if you are still using methods from the 1990s.
When it comes to automation, it helps if you know your business. If you are unaware of all the tasks that get conducted, then perform a tasks audit. Write down every task and look to eliminate redundant tasks, merge some tasks in with others and automate anything and everything you can.
To work out what tasks can be automated, it would help if you spoke to an I.T. professional or read up on the automation of tasks. You may be shocked to learn the scope and scale of tasks that can be automated and made easier.
Engage Your Custoemrs
It has never been easier to connect with your customers. By the use of social media, you can engage your customers as often as you like. By posting, responding to comments, creating great commitment like vlogs and images, and making polls, etc., you can engage and interest your costumes.
The more relevant you become in their lives, the more likely they are to stay your customer. Remember, it is always a good idea to engage the local community topo. By hosting events and being a part of other local events, you can boost your brand in the local area. A good event is always a good photo op too. If you can, try and get children involved in your brand at local events.
Adhere to the Law
There is no quicker way of becoming irrelevant than not sticking to the law. You can get fined, or worse, and that can damage your reputation and irrevocably harm your business.
The law does change, so even though you may be thinking that you are adhering to it at the moment, when new laws come along, like the data reform bill, you may find that you are doing something that is no longer allowed. Your best bet is to have a solicitor you can rely on to let you know when something has altered and how this affects the ruining of your business.
If you have a forward-looking company, then you will be able to embrace innovation and change quite easily. In fact, it would be best if you make change part of your business philosophy. As mentioned above, if you can bend to the times, you are not going to win. Innovation so one of the key ways things change.
A great thing to implement in the workplace is an innovation station where you give your staff the ability to innovate. You could ask for innovation in a suggestion box; your company portal may be a great place for this.
Any innovation that you see as having weight, you could sponsor the innovator to create a proposal for it, and give them a financial incentive too. This is good for the business and the staff member and can keep you relevant.