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How to Improve Your Business Model in 2021

Everyone could use some growth. It doesn’t matter if you’re just starting out, or if you’ve been a company for ten years. So if you’re ready to grow, here’s how to improve your business model in 2021.

Use Smart Recruiting Tactics

Hiring the wrong people costs you time and money. If you’re like most business owners, those aren’t things you like to waste. Improve your hiring process by: 

  • Purchasing well-written job ads through a programmatic recruiting program so you attract better candidates to interview.
  • Involving more people in the interview process. Let team members sit in on interviews to gain more perspective on potential hires.
  • Setting goals you’d like new employees to accomplish for your company before you begin interviewing. That way, you can choose candidates capable of fulfilling them.
  • Having a test day. Let potential employees experience what the company is like on a typical day and see how they perform.
  • Encouraging your candidates to interview you too. If they know what you’re about upfront it’ll reduce your turnover.

A smart approach to recruiting will increase the chances of finding the right candidate on the first try. 

Build Trust In Your Business

What brings in new customers, helps you keep good employees, and strengthens your brand? Trust. People want to do business with companies they can rely on. Here’s how to build trust in your business.

  • Be reliable. Only commit to projects you can finish. Provide the same customer experience every time. Let people know they can count on your company.
  • Be honest. Know your strengths and limitations and admit to them both.
  • Take responsibility. Own the decisions you make and the actions you take.
  • Show trust in others.
  • Have an open-door policy with your employees. Let them bring thoughts, problems, and solutions to you without fear.
  • Guarantee your products and your work.

You build trust by committing to a standard and upholding that commitment.

Identify Your Base

Before you can market to your customers, you have to know who they are. So how do you identify your base?

  • Ask yourself if your product or service has broad appeal or needs to be aimed at a specific market.
  • Determine if your product or service is more appealing to a certain age group.
  • Consider if what your selling has a built-in limitation. Winter coats, for example, will likely only sell in cold climates.
  • Look for other factors your customers have in common.

In order to have an effective marketing campaign, you have to know who you’re marketing to.

Manufacture Your Marketing Plan

Your marketing plan is your blueprint for how to reach new customers. People see marketing plans and campaigns every day, whether they realize it or not. With so much content being thrown at them, you’ll have to make yours special.

  • Make simple, straightforward ads that get your point across.
  • Use video marketing to its full potential. It’s the main form of media consumed today, so invest in high-quality content.
  • Hire a social media manager to streamline your posting schedule and craft quality posts.
  • In addition to traditional ads, consider “behind the scenes” content. Show people your less serious side.
  • Work with influencers and promoters who can get your message in front of a larger audience. Be sure to choose people who align with your brand.
  • Run interactive campaigns like contests and giveaways.
  • Sell your company, but don’t make it the only thing you talk about. If all your content is selling, people will disengage.

Clever marketing sells your company and your product without being annoying.

Starting using these tactics now and you’re sure to see improvement in your business model before the year ends.

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