William Smith
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New Financial Year Resolutions to Grow Your Business

December 31st: people across the planet are taking stock of their lives and declaring goals to help them progress in the new year to come. ‘New year, new me!’ We’ve all heard it before, but whether people stick to their new year’s resolutions or not isn’t always the point. What’s important is that they are assessing their behaviours, habits, and relationships, as well as acknowledging their strengths and weaknesses.

The same can – and should – be applied to business. Now the New Financial Year is in full swing, every business should make an evaluation of their performance over the previous period, identify fresh ways to improve, and create New Financial Year resolutions that will place them in better stead for the future. If you’re ready to make impactful changes to your business this year, here are some common resolutions that you should set.

 

S.M.A.R.T. goal making

Before you introduce any new goals into your business, ensure that they are S.M.A.R.T. (Specific, Measurable, Achievable, Relevant and Timely). A resolution isn’t any good to your operation if it is vague, unrealistic, or incapable of being tracked. You and your staff not only need to know what it is you’re trying to achieve, but also:

  • How are you going to achieve it?
  • When are you going to achieve it by?
  • How will it benefit your business?
  • Is it possible within your capabilities?

 

Invest in assets

Do you have outdated or dilapidated equipment? Perhaps you’re looking to diversify and need support to do so? Take advantage of the Federal Budget 2019 funding designed to support small-medium business. The instant asset write-off scheme has been increased form $25K to $30K and extended until 30 June 2020. Plus, a $60M boost to the Export Market Development Grant means small businesses can set their sights on global markets and receive grants to put toward their overseas digital marketing an any costs for exporting out of Australia. Find out more about this here.

 

Locate areas to develop, diversify, or consolidate

Industries are changing faster than ever before. So are customers. To keep ahead, look back on the different areas of your business to see how they are performing. Is one area excelling beyond your capabilities? Is another haemorrhaging cash? Are there any openings to bring departments together, or to adapt them to align with growing trends? Refer back to your end-of-financial-year results and conduct research into innovations and movements within your industries. This will likely expose shortcomings and identify opportunities to combat any changing tides, whether that be in your sales funnel, your operating expenses, or even how you track customer data.

 

Refresh your website

Your website is more than a digital shop-front for your business; it is your one chance at a stellar first impression. If you are still operating with an old design, it may give off the impression your product or service is not up-to-date and leave potential customers looking elsewhere. Try refreshing your website with striking new designs, impressive new features, or more sophisticated backend technology.

 

Change-up your advertising campaigns with digital marketing

It’s no secret; digital marketing is the future of advertising. Recent research shows that ad buyers allocated 41% of their budget to digital, the same proportion as they do for TV, and over time this is expected to reach 50% or more on digital marketing alone. Whether you’re a fresh start-up or an established firm, a comprehensive digital marketing campaign can help you reach new eyes, garner a community following, and offer new ways to tell your story. Strategies include:

SEO

Google, Bing and other search engines are constant reference points for new products and services. Using various onsite and offsite actions to improve your web rankings, SEO is well-established method to help your business reach the first page of results.

PPC

For further help getting to the top result on Google or Bing, or perhaps pushing your business more subtly to your audiences, try the display network, remarketing management services and pay-per-click (PPC) campaigns.

Social

Billions of people are active on Facebook, Instagram, LinkedIn, Twitter and other forms of social media every day, with millions of posts being uploaded every second. Find a voice and push your brand to interested audiences with timely ads via social media marketing.

Content

Establish your brand voice, realise what your customer looks like, and build your authority within your industry by engaging in effective content marketing strategies. Whether it’s through blogging, e-books and whitepapers, or simply attractive web copy, offer your audience real value to build their trust in you.

 

Let us help you plan your New Financial Year

Digital marketing is most effective when conducted by the professionals. If you would like to learn more from one of the leaders in the industry, speak with a consultant at WME by calling 1300 663 995.

By William Smith


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