How to Revamp Your Business

Every business needs to change and adapt to the times. This is something that many businesses are investing in, and a large enough business may even have a dedicated research and development department and may look into updating their design and approach on a yearly, if not a quarterly, basis.

However, most businesses won’t have the funds, the means, or the expertise on hand to commit to ongoing development and improvement. Revamping your business doesn’t happen organically but instead strategically.

Revamping your business

Prevent your company from falling behind and keep it fresh and exciting for your customers, clients, and partners. Revamping your business can cover anything, from the full scope of your business to the aesthetics, but with this guide, you’ll have a better idea of what you should focus on and the best way to get the job done:

Understanding What Your Business Needs

One of the first places to start when looking to give your company a revamp or refresh is with an audit. If you are unsure how to measure your company’s effectiveness, hire an outside team. If your employees and yourself are happy with the behind-the-scenes workflows and output, then focus on the website and digital presence with an SEO and digital audit. If you think your internal workflows could be better, bring on a business consultant.

There are always improvements that can be made. If you were 100% happy with the results and your company’s direction, you wouldn’t need to revamp it.

Understanding the way is key. Knowing why your business costs are high can help you lower them. Knowing why you are losing followers can help you stop them from dropping off. Knowing why your website’s traffic just dropped can help you fix the issue. An audit can help you better understand why everything is happening and equip you with the insight needed to steady the ship.

The key to success here is to bring on the right specialists who can and will look through your business and identify key issues and winning solutions.

Common Issues (and How to Fix Them)

Though a tailored audit and business strategy will be needed for you to get the most comprehensive and dedicated strategy forward for your business revamp, there are several common issues that all businesses tend to struggle with at one point or another. By being aware of these common issues, and more importantly, knowing how to fix them, you can keep improving your business where it matters most.

1. A Drop in Social Media Activity

Social media ebbs and flows. When it’s going great, you have many new customers, great engagement, and you can use that attention to cleverly market your business and encourage more people to visit your website. When it’s not as effective, you start to lose followers or find that your accounts experience a massive drop in activity.

There are so many ways to sell, grow, and build a thriving company through socials, but if your accounts are dwindling, you lose those opportunities. Social media marketing and outreach are an important part of any digital marketing campaign. A digital marketing agency can help understand what is going on with your accounts and create a strategy for organic growth in followers and engagement.

2. A Drop in Website Traffic and Engagement

Your website should be the destination all of your marketing channels funnel towards. It should be the ultimate goal for every digital marketing and traditional marketing campaign, regardless of whether you operate a brick-and-mortar store or not. However, several key signs indicate that your website is not performing as well as it needs to.

Always keep an eye on how the traffic is flowing. If you get a lot of people onto a page who just bounce off, then you need to create a more targeted landing page and perhaps even look into updating the aesthetic and UX of your website.

If there is a specific hiccup, such as customers leaving baskets at the checkout, check for technical issues that are causing this drop in traffic.

While the latter example is an easy fix, the former requires a full strategy. You may need to revamp your website design, content strategy, digital marketing strategy, or all three. A good way to get the best possible results is to hire a digital marketing agency, particularly if they offer all relevant services from web design to marketing and even SEO, as this digital focused Denver marketing company.

3. A Lack of Repeat Customers

It’s expensive to market and manages your company just for each customer to buy from your store once. While some businesses certainly don’t expect repeat custom, it is important that previous customers refer their company to their friends, family, and colleagues. Word-of-mouth marketing and repeat business are two of the best ways to grow your business, but they can also be two of the most challenging goals.

If you have a lack of referrals or repeat customers, don’t worry. There are many solutions to help you grow.

To start, you need to look at your retention schemes. A blog, a newsletter, special sales, and expanding your product or service list can all be a great way to bring previous customers back. If it is referrals that you are after, then offer a deal. If your existing customer refers to three friends, they get a discount, for example.

Essentially you need to:

  1. Give your existing or previous customers reasons to return by offering value (content, benefits, etc).
  2. Reward them for their ongoing engagement (special access to sales, discounts, etc)
  3. Offer exceptional customer service (and experience) beyond the sale.

Start small and grow the offerings you provide. By getting more customers and site visitors to sign up for your newsletter, you can offer value and grow your relationship with each newsletter sign-up. From there, slowly add features and benefits that help your bottom line while also giving your customers more than one reason to return.

Dragan Sutevski

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan