Sunday, June 13

What Do Successful Companies Have in Common?

Successful companies are those that understand their niche and work to capitalize on their teams’ strengths. Working to perfect a business model is something that every business can do––whether your small business operates as a single proprietorship in a small town or you run a multinational law firm with offices all over the world. However, perfection can often feel like a fleeting dream that can’t be accomplished.

Successful companies share a core commitment to excellence as well as generalized traits that others aspire to bring into their own company’s climate. Working to achieve these traits is a great way to ensure success for your own small business in the long term.

Focus on advertising.

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Your sales team will typically be working overtime to create revenue for the company, but one place where successful businesses park their extra-budgetary considerations is in advertising. Growing your marketing budget might sound like a waste of time, but the more you focus on brand strength, the better your products or services will sell in the local and digital communities.

Crafting great advertising and brand persuasion power is a core component of many sales training programs, and it will serve you well as your business continues to mature and grow into a power position among competing interests in your space. Sales is the backbone of any successful corporate endeavor, so creating a powerful team here will serve you well over the long term.

The same tactic stands as a measure toward success for a marketing strategy for law firms, too. Legal teams must double as salesmen in many instances as they win the trust of prospective clients. Whether you’re based in New York, Chicago, or Toronto, learning the art of sales is an effective way to improve your basic services to clients that require legal assistance.

A focus in your advertising must take on two disparate segments in order to really strike the target that you’re aiming for. Social media savants like Sam Ramey know the importance of utilizing both an SEO and social media blitz, as well as a paper marketing campaign to capitalize on your local marketplace.

Build your digital marketing plan.

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Salespeople are bolstered by the robust digital footprint that an SEO campaign gives to your company profile. Utilizing Linkedin, blogs, and other social media practices to create a wide-ranging online image that presents your company and its product line in the best possible light is a crucial step in gaining a larger, loyal following among potential clients. This is particularly important for industries headquartered in small towns or nearby larger urban areas. These settings make for a great corporate space, but creating market traction here will require an all-out attack on the marketing front, especially for new businesses.

Online exposure is a great way to go about promoting your business in a cost-effective manner. With the help of SEO professionals or your own website’s blog section, you can tap into the best way to connect seamlessly with potential customers in your small town and beyond. Social media is a great way to present yourself and your business in whatever context suits your needs. Social media pages and blog postings leave a long term trail on the internet that clients are liable to uncover during their search for services similar to yours. When they find you, you’ll want to impress with notes and targeted language from your sales team in order to organically convert prospective clients into a long-term business relationship.

Utilize print services.

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The best way to bolster your SEO practices is to rely on physical advertising as well. The combination will prime prospective clients for when they inevitably stumble upon your business and brand online. Online shopping now accounts for almost a quarter of all consumer spending worldwide (and 3.5 trillion U.S. dollars’ worth of purchasing), and this means that an online store and corresponding digital marketing materials is a winner for any brand.

Particularly important is the understanding that Covid-19 lockdowns across the United States and worldwide will continue to drive digital sales higher in the new year. In order to find success for your brand, you’ll have to lean into your online store while continuing to prime clients with in-person marketing as well. By pairing these two types of advertising together, you can capture a larger segment of potential clients in your area who are likely to recognize and use your brand, thus growing your competitiveness in the process.

Consider adding new product lines.

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Whether you’re looking into franchise ideas for small towns or community outreach with an essential service that’s currently lacking, growing your brand takes a long term strategy. This often includes a continued expansion of product or service offerings.

Learning how to make a difference in your community is a great way to boost your business’ profile among prospective clients without too much reliance on traditional marketing practices that can be costly. Thinking about your community’s needs is a great place to start. If you operate a grocery store, think about adding a delivery service; if you run a local car wash, try adding hand waxing to your lineup of services.

Adding new products to your offerings is a great way to get your small town community excited about your business and the services you offer to match its needs. Evolving alongside the requirements of your town is a great way to find success, continuing to grow as your business progresses with more staff members and time. One way to gauge these changes is to think about how people are currently interacting with your brand. If you’re only selling one type of service to most of your repeat customers, then thinking about additional products that could complement that offering––or creating a premium version of it––might be the perfect way to shift your focus toward winners in the short term.

Alternatively, along with the help of your sales team and marketing gurus, you could engage in a long-running campaign to introduce clients to the future of your business. A car wash, for instance, might make more money on an automatic wash than hand wash offerings, so providing a long-running discount on the automatic service that brings its consumer cost down might encourage more clients to use this alternative service. Plus, it also primes them to continue using the automatic wash even after you raise the price back to a standard level.

Creating a relationship with buyers in your local area and online is crucial to finding long term success. But you’ll also need to continually think of ways to grow your revenue, in order to remain in operation and to bring in more cash year after year. Pairing marketing with sales is the mark of a success story, so make yours one of them.