Reinvigorate your business on a budget

While I suspect you’ve already done your strategic business planning for 2015, you might still be wondering what else you could do to “turn the knob” on all or part of your business.

It’s a natural thought process at this time of year. In the words of Saturday Night Live… you think your business needs more cowbell.

Here’s a checklist of baby steps you can take that will help you reinvigorate your business without spending a ton of money.

Marketing

The best way to not spend a ton of money on marketing is to track the response you get. You can do this with tools ranging from a yellow pad and a pen, to a spreadsheet, to sophisticated software. The key isn’t the tool you’ve chosen as much as it is that you actually track response and make future marketing decisions based on what those responses tell you.

For example, if you advertise on the radio, on cable TV, in a newspaper, email, web advertising and via direct mail, you need to be able to tell which of those are making the phone ring AND making sales happen. It may not be one of them, it might be all of them or a subset of them.

You need to know which media work for you and which don’t. It doesn’t matter if one works for someone else if it doesn’t work for you.

Likewise, sales copy that works on the radio may not work on one or more of those other media.

You need to know which campaigns work on which media.

Ultimately, you need to know what works so you can stop spending money on what doesn’t.

Accounting

Do whatever it takes to make this as easy as possible. Without a clear view into your numbers, you might be making decisions that are taking your business in the wrong direction.

If this means getting help, find a way – even if you have to use temporary help or an online service. If it means changing the tools you use, do it.

Even though accounting is not particularly sexy or fun, it’s the only scoreboard you have.

Sales

Close the sales prevention department.

The “sales prevention department” includes all of those things that make prospects shrug their shoulders and walk away.

Among other things, it’s the sign that they can’t read, the phone that wasn’t answered, the salesperson who didn’t attend to them, the cashier who barely looked up from the register except to look at their phone, the website they can’t use to do business with you, the process that made buying not worth the trouble, and the inane, repetitious paperwork that wore them out before they could give you their money.

Customer service

If your customers bought something in the last 90 days, have you followed up with them simply to check that their purchase did what they wanted? What if it didn’t? What did they do? Was your staff of any help?

Follow up.

Back office and Infrastructure

What costs your business time and money every day? If you asked each staff member what would help them do their work more effectively and efficiently, what would they say?

Ask them. You might learn something.

Cover your assets

If you can’t find instructions that would help someone restore your data if computers were stolen or burned up, your business is at risk. What are you going to do about it?

Do you care if your business outlives you? If you do, ask yourself this: “What would happen to my business over the next month or so if I died in a terrible accident today?

Communications

Can you reach all of your customers with a message personalized to them?

Can you reach all of your customers without placing an ad on TV, radio and in the newspaper?

In both situations above, can you do so by the end of the day today? How about the end of next week?

Website

I could discuss this topic in great detail and suggest lots of changes, but remember, we’re talking about reinvigorating your business website on the cheap.

Does your site have your phone number on it? Does it have a map on it? Does it have your physical address on it, where appropriate? Little, easy to forget things make all the difference.