Each component in the digital ecosystem, including database management, employee engagement, marketing activities, and customer services, are changing rapidly. Thus, businesses need to understand the changing market trends and customer preferences to take on the challenges for growing in 2022 and beyond.
This article will provide essential tips from top experts to help you beat your competition and build a successful brand in the digital environment.
Advice from Sue Keogh, founder of Sookio
Sue advises businesses to constantly ask whether their business model is scalable?
She advises businesses to implement automated systems that perform repetitive functions, allowing employees to focus on critical tasks instead of wasting time on trivial activities. She supplies worthy examples to substantiate the principle mentioned above. For example, you might have a team of only five employees today. But tomorrow, it may increase to a hundred. Similarly, you might have sent ten invoices in the last quarter. But you may send a thousand invoices in the next one.
Thus, she adds, it would make sense to have all the necessary tools and processes in place that perform mechanical and repetitive tasks quickly and efficiently.
She ends by saying that you should always think about the future. The systems that you put in place today may not give you instant benefits but will play a pivotal role in five or ten years down the line.
Advice from Antonia Chitty, founder of Family Friendly Working
Antonia never fails to give helpful advice to businesses of all sizes. She says companies should focus on what they aren’t doing right now. For example, asking questions such as:
- Do we lack an efficient invoice system?
- Do we embrace diversity in our workplace?
- Do we adhere to sustainable practices?
She further advises businesses to partner with freelancers who have the required skills and expertise to help the company achieve greater heights in 2022 and beyond.
Advise from Janice B. Gordon, founder of Scale your Sales
Janice says that the number of opportunities far outnumber the challenges for new and growing businesses in 2022.
He says that customers have vested interests in making a business sustainable. Why? Because a sustainable business can continually supply products to customers without fail.
He further adds that companies must be honest and transparent while communicating with customers. It adds credibility and creates a robust customer bond that is highly likely to turn profitable over a long duration.
Janice also mentions gaining customer feedback for observing changing purchase habits. This step helps to brainstorm effective marketing strategies and segment customers based on geographical, demographical, psychographic, and behavioral parameters.
He finishes by saying companies should build a mutually beneficial relationship with customers by making them your partners in growth. This step will allow you to observe your products from the customer’s eye and improve upon the initial prototypes.
Advice from Bobby Lane, CEO of Factotum
Bobby advises business owners to critically examine their past year’s activities and figure out ways to improve.
He talks about how businesses across industries changed during the pandemic’s peak in 2021 and why it’s high time for tracking performance and ensuring objectives are achieved in time. He further adds that big and small companies should review their plan and assess their performance each month.
Bobby says that turning fixed costs to variables will help companies take advantage of opportunities and face challenges more effectively. He also mentions the importance of building a passionate team that is excited to carry forward the company’s vision and put their heart and soul into it.
He ends by saying that organizations will immensely benefit by allowing teams to shape their strategy and trying new things to help them feel engaged.
Advise from Amanda Webb, founder of Spiderworking.com
Amanda recommends companies should focus on services that contribute most to the overall profit and are easiest to sell. She advises that making too much effort in manufacturing, marketing, and promoting products that haven’t shown promising results in the past isn’t a worthy idea.
She suggests organizations analyze past year sales to identify outperforming products and which ones hardly contribute to the company’s cash reserves.
Amanda ends by saying that companies might feel bad to let go of a few products. But ultimately, it allows them to focus on essential products with a high selling potential.
Delia Goldring, founder of Performance Options
Delia says that businesses across industries are still struggling to make sense in the post-pandemic world.
She adds that organizations have become comfortable outsourcing certain services to reduce their on-site teams. Moreover, flexible working hours is a rising trend and has picked up steam since the onset of the pandemic. She also adds that business owners need to develop favorable flexible working policies to recruit, retain, and motivate a team.
Delia thinks that employee management is a crucial aspect that companies should focus on. The senior management should ensure that employees are satisfied with their job roles and perform excellently well.
She ends her talk by saying that managers should conduct face-to-face meetings through video platforms, jointly set targets, and analyze performance based on milestones.
Today, businesses need to identify their priorities, set achievable targets, collaborate with market leaders, and, most importantly, implement effective business management solutions like ERP software.
ERP systems are specially designed to meet the needs of your business. They link different data repositories and enable various departments to collaborate. Moreover, they create a secure central database that only relevant stakeholders — executives, senior leaders, vendors, suppliers, and distributors can access and share.
So, if you want to increase profits, improve efficiency, and build robust and long-lasting customer relationships, you must implement Enterprise Resource Planning software today.
Nishant Joshi likes to read and write on technologies that form the bedrock of modern-day and age like ERP, CRM, Web Apps, machine learning, data science, AI, and robotics. His expertise in content marketing has helped grow countless business opportunities. Nishant works for Sage Software Solutions Pvt. Ltd., a leading provider of CRM and ERP solutions to small and mid-sized businesses in India.
You can learn more about him on Linkedin