MarketingProductivitySocial Media

Prospects for Profits: How Your Online Business Can Earn More

Small businesses have been through a tremendous amount of turmoil since the pandemic began. Many entrepreneurs have pivoted to stay open, including shifting over to a greater online presence. These businesses can increase their profit margins with the right tools on their belt, such as a solid marketing plan, which Almost Magical Marketing can help you with.

 

Marketing Mechanisms

When you think about marketing, what comes to mind? A good marketing plan can send a business into the stratosphere, particularly when it is well-constructed and diversified for maximum customer exposure. When consumers are engaged in this way, tapping into the four basic human needs, it creates a compelling argument for the purchase of your product or service. When you position yourself as an ally that can help solve problems, you are in a great position to offer products and services that meet those needs, such as consultation, a blog with relevant content, a podcast, and more.

Use free social media to your advantage. Establish social media accounts for your business to expand your outreach. Share info about products, compelling photos of your goods, and updates on discounts and sale items. As your business grows, it may be worthwhile to consider collaboration with other businesses to maximize both companies’ outreach potential.

Creative Collaboration 

As you think about what your online business offers, consider the types of goods or services that would complement it. If you sell art, for example, it may be worthwhile to collaborate with an interior design specialist. When you coordinate with other businesses online, provide links and shoutouts to one another’s companies. Offer discounts when customers use both businesses, and give clients additional perks when they post about you on social media. 

Another great way to collaborate with other companies is to work together on giving projects. By joining forces for the greater good, you tug at your customer’s heartstrings, as well as truly help a cause you care about. The exposure you get from giving to others shows customers that your company has a heart. This can go a long way in building your brand and establishing a relationship with your customer base. Meanwhile, as you collaborate with complementary businesses, it is important to get competitive with those in the same market. 

Stealing Sales

Your staying power relies on your ability to compete. How can you differentiate your company from others within the same market? Examine competitor websites and products to determine how you can up the ante and make yours stand out. If your competitor’s rates are lower, add value to your price point to make it worth your customer’s business. Offer a guarantee on satisfaction and quality so clients know you are committed to their experience. 

Being competitive keeps you on your toes and helps you focus on staying relevant. Business owners who are aware of their competition’s skills and products can invest more energy in their specific niche or amp up customer service. When your business begins to grow, you may need to bring on more staff to meet demands. At some point in your business evolution, it may be helpful to consider a streamlined payroll system to simplify your life.

Perfecting Payroll

There are a lot of ways a better payroll system will improve your business. The best benefits lie in the simplification of processes: time tracking software, for instance, allows employees to clock in and out and even edit their timesheets easily, while business owners can streamline scheduling and keep a close eye on productivity levels more efficiently. An app that integrates with your payroll system is even better for accurate and on-time paychecks and tax reporting. 

Online business owners who invest in a solid payroll program and establish a brand that is competitive, relevant, and well-marketed are likely to thrive in today’s economy and into the future. Your online business can reach greater heights with a little help. Check out Almost Magical Marketing’s free ad training for starters.

 


Image link: https://pixabay.com/photos/buy-shopping-cart-keyboard-online-3692440/

Image credit: Pixabay.com

Contributor: Amy Collett – BizWell.org

 

About Us:

Almost Magical Marketing is a full suite digital marketing agency specializing in Chatbots, Facebook Advertising, Social Media Management, Sales Consulting, Franchise Marketing, and Branding. Our team of almost magical llamas brings a wealth of experience from multiple industries. 🦙✨

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