Optimism is rising in the Family Business world which is great
news. Nearly 50% of the companies polled are more positive about the
economic outlook than they were 12 months ago. But optimism alone does
not make for peaceful night sleep.
The biggest concern for Family Business owners is how to free up cash flow in order to grow revenue.
Business owners are concerned about increasing their profit margins & making their company as lean as possible so investing in technology should be a priority. We are not talking about sacking all of your employees & replacing them with robots but if 60% of small businesses think being online is integral to growth then why are they only investing a fraction of their annual budget in it?
Few companies are equipped to keep up with today's technology let alone plan for the future. More than 22% of business owners say that outdated business systems are a top challenge with small budgets allocated to maintain them. Business owners are reluctant to get personally involved therefore paying vast sums of money outsourcing the role which means they have little knowledge of the work being carried out. Family Business owners feel they have little or no knowledge to carry out the task themselves. To a person who "needs" to be in control this can be exceptionally hard... and keeps them awake at night.
Computer technology is often complex and out of many people's comfort zone, so they choose to spend their time posting company products on social media sites instead. These sites are, by definition designed for "social" interaction so promoting your products here can be an expensive, time-consuming and in many cases financial results are poor. If Facebook is your place to market your product or service then make sure you are using Facebook for Business.
Having your own bit of "space" on the web is not only essential it is vital.
Here are a few reasons why.
Start by clicking the link below to find out if we can help you sleep at night!
The biggest concern for Family Business owners is how to free up cash flow in order to grow revenue.
Business owners are concerned about increasing their profit margins & making their company as lean as possible so investing in technology should be a priority. We are not talking about sacking all of your employees & replacing them with robots but if 60% of small businesses think being online is integral to growth then why are they only investing a fraction of their annual budget in it?
Few companies are equipped to keep up with today's technology let alone plan for the future. More than 22% of business owners say that outdated business systems are a top challenge with small budgets allocated to maintain them. Business owners are reluctant to get personally involved therefore paying vast sums of money outsourcing the role which means they have little knowledge of the work being carried out. Family Business owners feel they have little or no knowledge to carry out the task themselves. To a person who "needs" to be in control this can be exceptionally hard... and keeps them awake at night.
Computer technology is often complex and out of many people's comfort zone, so they choose to spend their time posting company products on social media sites instead. These sites are, by definition designed for "social" interaction so promoting your products here can be an expensive, time-consuming and in many cases financial results are poor. If Facebook is your place to market your product or service then make sure you are using Facebook for Business.
Having your own bit of "space" on the web is not only essential it is vital.
Here are a few reasons why.
- If the social media sites are your "thing" then link your website to these platforms enabling your customers to access the full range of products and services you offer. You can add more information onto your website including your company profile, history and contact page which will all raise your credibility.
- Automating part of your business process will free up valuable time and money but imagine if you can automate it all. There is a wealth of information out there enabling you to keep in regular contact with your customers. For instance, Aweber will enable you to send out automated emails of pre-written content which could include discounts/sales/new products etc.
- A website allows you to forge relationships with your existing and potential customers. Writing and posting information relating to your products and services not only shows that you are human but that you care and that they are appreciated. You could ask for their top 5 product related "concerns" and then try to solve them.
- You are the expert of your product or service so don't miss out on reminding people how valuable you are to the community, it may be local or international but you provide a service that people want so tell them how you are different to your competitors. What is it about you that makes you stand out from the crowd.
- Customer service should be high on your list so interact quickly and efficiently with your people's concerns. Make sure you have a Contact Page on your website and that it is monitored regularly.
Start by clicking the link below to find out if we can help you sleep at night!
We can show you how to effectively advertise and market your
products or services online. There is a step by step guide to follow but
you will not be on your own, we give you the support of a mentor,
business community and access to training modules.
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