10 Strategies that will work for your company in 2021

Updated: Feb 18, 2021

Now is when many business owners evaluate how they will make their enterprises stronger within the coming year. Here are 10 tips for building your company’s resilience.

1. Improve Your Goal-Setting Approach

Many entrepreneurs are too vague once they set goals. the perfect method is to form SMART goals — ones that are specific, measurable, achievable, relevant, and time-bound.

Don’t decide to merely “sell to more customers.” Instead, you'll aim to extend your 18-24-year-old customer base by 20% by the third quarter of 2021. Create goals that challenge you or the parties responsible but don’t cause constant frustration and discouragement.

2. Take Customer Feedback Seriously

The internet gives people massive platforms for spreading the word about outstanding companies — or airing their grievances. A 2020 survey about local business reviews found 72% of respondents had written about companies in their areas. Additionally, 20% of reviewers expected representatives from those entities to reply within each day.

Think about what you'll do differently in 2021 so customers feel heard and revered. Don’t make promises you can’t keep, but let people know you value their feedback and can take it under consideration while making operational decisions.

3. Consider Letting Employees Work From Home

The COVID-19 pandemic meant that a lot of people worked from home for the primary time in 2020. it's going to benefit your business in 2021 if they keep doing that — albeit the general public health threat eases. A recent employer survey indicated that 94% of respondents found employees were as productive or more so when working remotely.

Shifting to a partial or complete permanent remote work arrangement could assist you to save on things like rent and furniture costs, thereby increasing your allow things that directly support business growth. Many employees view remote work options as perks, which could aid in your hiring and retaining efforts.

4. Use Data to form Better Decisions

How many times have you ever made an important company decision without the info to support it? Many leaders naturally believe in things like their experience and gut instinct. Those things pay off, but counting on them an excessive amount introduces preventable risks.

Think about ways to use your company’s existing data to guide decision-making processes. If your budget allows, invest in data analysis software. regardless of what, take the required steps to make sure your information is as clean and accurate as possible.

5. signalize to the Solutions You Provide

As you evaluate customer engagement options for 2021, transcend the standard approach of selling products and services. Instead, tailor your messaging to sell an answer for an identified customer need.

If you sell luxury candles, you'll position those products as helping people relax and relieve stress. If you offer a time-tracking app, discuss how it boosts administrative staff efficiency and improves employees’ workflow.

6. Address Your Cybersecurity Shortcomings

2021 is a superb time to possess a knowledgeable cybersecurity audit that illuminates weaknesses and shows where your company excels in preventing attacks. Getting an outdoor expert’s opinion should reveal belongings you previously overlooked.

According to a 2020 global IBM report, data breaches cost companies a mean of $3.86 million per incident. Moreover, 80% of the attacks studied compromised information that identified specific people. Unfortunately, that finding emphasizes how hacks have reputational costs also as financial ones.

7. Enhance the Company’s Social Media Presence

Many people find a company’s social media profiles before encountering their websites. Is your collective presence an accurate and enticing representation of the business's goals, values, and products?

Check for potential areas of improvement concerning the content variety, post frequency, and user engagement. Keep track of which posts get the foremost attention and break down which factors draw readers’ interest.

8. Consider How Videos Could Highlight Your Company

A 2020 report clarified how businesses used video in 2020 and what results in the marketing teams got. The conclusions showed that 83% of individuals cited video as becoming a more important content type for his or her organizations. Plus, 94% of these polled thought it achieved an equal or greater number of conversions compared to all or any other formats.

Videos could give current and potential customers more insights into what your company does. for instance, you would possibly create a video that sheds light on a very complicated manufacturing process that helps your company stand out from competitors. Alternatively, you'll Livestream a buzzworthy event, like a product launch, to assist people to share within the excitement from wherever they're.

9. Automate Your Time-Consuming Processes

Your company almost certainly has some processes that take longer than they ought to. The upcoming year may be a fantastic time to work out whether automated tools could assist you to streamline them.

For example, many companies automate some lead management steps or invest in automated tools that help employees organize their inboxes. Automation isn't a magic fix for all of a company’s problems, but it could make yours more resilient by reducing error rates and freeing up employees’ schedules.

10. Show Employees How You Value Them

Your company almost certainly couldn't survive without hardworking employees. Strengthen it in 2021 by ensuring your team knows you appreciate them and consider them as integral to the enterprise’s success.

Doing that would be as simple as recognizing and rewarding the items people had best instead of only having discussions about their mistakes. you would possibly also start an employee-of-the-month program. These efforts keep team members motivated and maintain high morale within the organization, making your company an excellent place to figure.

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