Manchester Business Tips 101
Running a business can be a vast undertaking and is not for the faint of heart. For every success you have in expanding your market share, there’s another business that will no doubt lose ground. Here are five basic business tips that will give you a competitive edge in the marketplace.
Prioritize Leads Over Sales
Yes, of course, you want to give your business growth a spark and increase revenue. But the sustainable way to do this is to focus on building a loyal list of avid fans and a strong consumer base.
The combination of content marketing, optimized website forms, and email automation follow-ups, is important to the success of your business. This strategy develops trust by giving away value before you ask for someone’s hard-earned cash.
Provide Solutions, Don’t sell Products
People aren’t seeking out your brand, they’re seeking a solution to their problem or trying to find a particular type of product. Don’t list every benefit your product provides. Instead, focus on the solutions. Explain in simple terms why or how your product can someone to achieve their goals.
Perform market research to create a profile of your target customers. How does your product solve people’s problems and make their lives either more pleasurable or just plain easier?
Always Optimize Pricing
Decreasing your prices doesn’t guarantee that you’ll increase sales. If you position your business as a premium brand, your customers may not be driven by value anyway, and so cutting prices may even harm your brand.
As a premium brand, you can optimize pricing without decreasing what’s on the label. One example would be to offer an ‘exclusive’ benefit that your competitors don’t, or can’t, provide.
On the other hand, if your business is value-driven, don’t assume that decreasing prices means that you’ll incur a loss. It can actually help you to rapidly bring a load of new customers on board, who may buy further items you have to sell, as well as return at a later date.
Own Your Niche
It’s sometimes better to be a master of one domain, as opposed to being a jack of all trades. Yes, it’s true that multiple streams of revenue spreads your risk, as if one fails, you have others to pick up the reigns. However, consumers often perceive specialists as offering products or services of a higher quality than generalists.
Use Social Media Wisely
Social media provide a great way for you to build a strong relationship with your customers. But just remember to keep the word ‘social’ in mind. If all you do is engage in shop talk on Instagram, it won’t work. Try to give some personality to your brand when you write posts or updates. This may include times when you might want to present yourself in a professional light, which is where studio hire in Manchester comes into play. At other times, you can go for something more rough and ready. It depends on how you want to position your brand to your audience.
Develop a voice that works with your brand identity. Also try to amuse, entertain, help, or inform. And as you don’t want the consequences of poor PR, don’t Tweet after a few drinks, try too hard to be funny, or patronize your audience.