Successful businesses have been far and few within the last year; small business owners decreased by 22 percent. Living in a new world means businesses have to adapt to the new rules to become successful. Continue reading below for five tips to help ensure business success and contact attorney Jeff Mitchell  for help regarding small business legal needs.
During the first couple of months of the coronavirus pandemic, the number of small business owners dropped by 22%! That is 3.3 million owners who stopped being active across the United States. Figures remained low throughout 2020 and into 2021. The world has changed, meaning that businesses must adapt to new circumstances, demands, protocols, and expectations.
But what does it take to run a successful business in 2021 and beyond? If you’re eager to discover business advice and ideas that will keep you moving forward, carry on reading to discover our top 5 tips for business success!
1. Social Media Is Everything
No matter what type of business you’re operating, you must have a social media presence. Around 68% of US adults use Facebook, but there are other channels you can use to promote your brand. They include the following:
Paid social media ads are the 4th most effective approach for raising awareness about new products or services. Search engines are the most popular, so it’s just as important to make use of a website and SEO (Search Engine Optimization) to ensure you appear on the first page of Google, Bing, and others.
2. Build Relationships
As the saying goes: “It’s not what you know, it’s who you know!” Learning how to run a successful business requires strong relationships. When it comes to owning a business, you have to treat everyone like family, including employees, partners, suppliers, and customers. Word of mouth is the 3rd most common way that customers hear about new products, services, and businesses. When people love your business, they will recommend it to others. A survey of small business owners in the US found that 85% acquire local customers through word of mouth.
3. A Successful Business Needs a Brand
Before you launch your business, you need to have a solid brand. You need logos, a website, and social media channels. And you need a message, product, or service that resonates with potential customers. 86% of customers consider authenticity as an essential factor for their trust and support in a business. However, only 43% of customers feel that most brands create content that resonates as authentic. It’s essential that you continually reinvest in your brand to keep it up-to-date and fresh!
4. Prioritize Customer Service
Delivering fantastic customer service should always be a priority. In the US, 70% of customers spend more money on a business that offers great customer service. Customers remember good (and bad) service, and so even when your business fails to deliver the initial product or service that the consumer expected, working hard to ensure their happiness will leave a lasting impression. Finding success doesn’t start with a product. It starts with taking care of the customer’s needs.
5. Personalize Your Offers
Whether it’s posted through your door or appearing in your e-mail, junk mail is a nuisance! Generic offers shared among the masses may seem like a great way to reach customers, but the lack of personal touch will leave a negative impression. You can’t hope to send unique offers to every potential customer, but you can provide specific offers to different demographics. Use social media to reach different groups or include an element of chance by having customers spin a wheel that decides their discount or offer. Make your customers feel special and business success will soon follow.