Business is about making money. However it is also important to assess and find places where you can save money also.
Businesses globally have been forced to embrace digital solutions faster than any other business trend over the past decade. With consistent discussions around the Great Resignation, working from home and the hybrid work model, the reality is that the cost of “going digital” is expensive. Small businesses in particular are left to find software or workarounds to fill the gaps and many solutions they have to choose from have been designed for large scale enterprises and agile teams.
The SaaS industry is both the problem and the solution when it comes to creating inefficiencies in businesses. Across the globe businesses were sending employees home during the world pandemic and presenting them with the software solutions to accommodate the working from home model to keep their businesses moving. However now with the hindsight of managing fully remote teams, the issue comes down to money and who can solve the problem you are having right now.
5 ways you can make your business increase revenue
Review your SWOT analysis
Identify what your weaknesses are post the pandemic and talk to your employees and customers. They will share with you where you can improve.
Review your subscriptions software
The digital age has had many businesses take up new software that does “X” better, but in many cases, these have overlapping features you are already using. Software is expensive, if you are using 5-6 different tools to run your team look at where you can reduce these.
Learn basic SEO
For your own knowledge, so you are focusing on the right parts of your online business and optimising it for the future. Ranking, Speed, Search results are important. Lay the foundations for the changes coming to the internet in the next few years. An optimised website now will help you convert more customers as mobile first websites are preferred for eCommerce shoppers.
Outsource your marketing strategy
Internal is not always better for small dynamic teams. Overheads are high, consider an agency or freelancer who specialises in marketing rather than filling the gaps internally and stumbling your way through it with untrained team members.
Review your lead generation
Many businesses set up “set and forget” or ‘Evergreen’ marketing solutions a few years ago and have not reviewed these to see how consistent they are. This could be Facebook Ads, LinkedIn Strategies, SEO, Google ads, reviews. All of it. A lot of businesses have been running the same lead generation for years. Review and assess what is working, look at the metrics of conversions and cull anything that does not convert. Stop pouring money into areas that do not convert!