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10 ways to boost productivity this year
Everyone enters into the new year with vigor and excitement, and you should extend those positive feelings to your business. Resolutions may be nice for going to the gym or eating less junk food, but to improve your business in 2016, it makes more sense to have concrete plans.
There are a number of different ways your company can make positive changes this year, and a lot of it will depend on the size of your business and the industry that you serve. Regardless, consider these tips for boosting numbers this year and making 2016 a smashing success.
1. Narrow your market
According to the Small Business Association, focusing in on certain demographics or markets can make market research and product development more comprehensive. Even larger companies can benefit from a renewed sense of direction.
By selecting a small section of the population to narrow in on, research becomes more clear and focused. This doesn't mean realigning your business with a specific group or demographic, but instead this can be a way to boost sales and corner a specific market by addressing very specific needs and market demands.
2. Prioritize specific targets
Within a more narrow scope, it may be helpful to start the year by picking certain potential new customers or partners that would be most valuable to your business. Depending on your industry, it may make sense to develop marketing around a specific city or region, whereas other companies may want to focus on landing one particular client.
Regardless, SBA reported that ranking and prioritizing specific targets is a way to give you and your team focus in the new year.
3. Increase sales and good standing with existing customers
An easy way to boost revenue in 2016 is to reach out to your existing customer base and develop strategies for increasing sales. Retaining customers also has its perks.
There are many ways to convert existing customers into big spenders and incentivize loyalty and continued partnership.
4. Add new complementary services to an existing product
The website Money Crashers reported that one way to dazzle your existing customers this year is to offer new perks and deals. This can be used to reward your partners and clients and also as a tool for enticing a renewed order or contract.
A flashy new offering is also a way to raise the stakes for competitors and ward of rival businesses. Customer appreciation can go a long way toward bringing in new revenue, and a new eye-catching perk is a great idea to get the ball rolling this year.
5. Bundle products
Another easy way to make customers and clients excited about doing more business is by bundling products and services. This may result in savings on your customers' end, but according to Money Crashers it can also drive sales.
Bundles work great with items that pair together logically, and may make folks buy things they don't necessarily need. A basic example would be to combine socks and shoes, because even though most folks don't actually need shoes, the prospect of savings is often too hard for most shoppers to pass up.
6. Offer specials discounts
Like bundled products, sales can drive customers to make purchases they might not otherwise consider. Black Friday is a perfect example of how savings can drive people into a frenzy.
So long as you don't discount prices too much, offering specials or sales can be a way to bring in new customers and boost revenue that might not otherwise come your way.
7. Increase social media marketing
An easy way to boost your business' reach without breaking the bank is investing more efforts into your social media campaign. This doesn't mean adding new employees or overhauling your budget, but a fresh approach to your digital fingerprint is a good way to bring in new customers and boost credibility.
Not every business needs to have a catchy, highly interactive presence on social media, but sites like Facebook, Twitter and LinkedIn are great ways to make new connections and boost your brand. Make sure your company is taking advantage of these services in 2016.
8. Treat your employees
According to Reader's Digest, one way to increase productivity within your business is to maximize your employees' efforts through simple rewards and perks. Happy employees end up being productive employees, and showing your staff some appreciation is always beneficial.
Rewarding your staff can come in the form of bagels and coffee or a new and inviting take on social events. Treating your employees doesn't have to be an expensive pursuit, and so long as gestures are genuine and helpful without being disruptive, odds are you can boost your employees' output with a few nice rewards throughout the year.
9. Invest in new technology
If you are serious about shaking things up and making 2016 a big year, spending a little bit on new computers or other technologies can have a big impact on overall output for your office. Things like extra monitors can make a difference for individual employees' productivity, while better conference room amenities can serve to make meetings smoother or more informative.
New computers or tech can be expensive however, and should only be considered after a review of your company's budget. Otherwise, a different approach should be considered.
10. Maximize existing technologies
According to American Express, an easy way to boost productivity without splurging on new computers is to make sure the office tech that you currently use is being maximized.
Make sure your computers have the latest operating software, and consider adopting new applications or policies that make things more efficient for your employees. Likewise, American Express reported that taking time to properly train employees on best practices and new capabilities is a way to ensure that each individual is maximizing output.
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