SME owners, when you have achieved one of your key objectives and are generating regular profits you will be faced with another major consideration for your business. How should you re-invest some of this profit back into your business to ensure growth? Below are ten smart ways you can re-invest.
Re-Invest in your Business – 10 Smart Ways
1. Marketing audit – Hire a marketing specialist to review all your marketing and sales communications materials and make changes where necessary.
2. Refresh your website design – Even your loyal customers will stop visiting your site if it stays the same month after month and year after year.
3. Advertising – You’ve worked out where most of your sales are coming from so it’s probably time to advertise specifically to your most receptive target audience.
4. Hire more staff – Depending on your industry this could be on a temp to perm or commission only basis – also consider virtual intern programmes.
5. Invest in your staff – Have an away day – Close the business for a day and focus on establishing better bonds with your team – ensure they feel part of the business rather than just employees.
6. Upgrade your equipment for greater efficiency – New laptops, smartphones or printer/scanners etc. ensure all equipment is networked.
7. Invest in yourself – What is your biggest professional weakness? Find a training course or conference that addresses it and be sure to attend.
8. Broaden your range of products or services – what will it take to increase your range of products or services? Take the necessary steps and add to your potential revenue streams .
9. Book exhibition space at an industry conference – In addition to raising your profile this will give you excellent networking and sales opportunities.
10. Invest in social media – Enlist expert help to ensure that you have a social media strategy that delivers meaningful results for your business.
We hope you find this information useful and of course we would be happy to help you re-invest successfully. If you’d like to talk to us,give a call on +448452264247 or email us at mail@marketingfundamentals.com.We are a leading Content Marketing agency in London.
Kind regards,
Marketing Fundamentals Team
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