After a tough and challenging year dominated by COVID-19, businesses are busy thinking of ways to increase their success moving forward. Are you one of them? From new product ideas to marketing campaigns, all sorts of ideas are being brainstormed by small and large businesses around the world; as post-COVID-19 consumerism is going to be a lot different than consumer behavior before the pandemic. Therefore, changes need to be implemented to stay competitive in what will be a strange and unique consumer environment.
So, whether you’re a start-up business or an established brand name in your industry, here is a short guide filled with easy-to-follow steps that will help you to be more successful.
1. Conduct a supply chain analysis
A business’ supply chain is vital to its success. If there are flaws or weaknesses within it, a business will naturally suffer and underperform.
So, now that more of the world’s population is being vaccinated and businesses are beginning to trade properly again, you need to conduct a supply chain analysis. This is smart, as it will enable you to identify changes that need to be made. For example, you might be storing too much inventory; or have poor transportation methods for your goods.
By making positive and productive changes to your supply chain, like reducing waste, your business will grow and become more competitive.
Also, it will give you an advantage over the many businesses that don’t conduct regular supply chain analyses. In fact, some businesses don’t make any alterations to their supply chains for years, which is a recipe for disaster.
2. Stay up-to-date with your competitors
As businesses start to reopen and the world’s market is becoming increasingly competitive, so it’s important that you stay up-to-date with the actions and behaviours of your competitors. After all, they are in the same position as you – they also want to ensure that they maintain their market share.
You should pay close attention to their product lines and marketing campaigns, as well as their pricing. Of course, you don’t need to send a spy to watch their every movement, but make sure you have a specialist in your team assigned to a market research role. This way, they’ll be able to create a portfolio surrounding your competitors and what they are currently doing!
3. Focus on digital marketing
Digital marketing has, unsurprisingly, become the dominant form of marketing.
Consumers everywhere buy and research products using their smartphones and tablets – so, it’s your business’ responsibility to take advantage of this by having excellent digital marketing resources.
You should work to build a strong presence on social media platforms, from Facebook to Instagram.
Also, your website should be optimized for the modern consumer – with plenty of product images and videos, an easy-to-navigate menu, excellent call-to-actions, and customer support options. It is also important to recognise the importance of a mobile-friendly website. Consumers these days are using their smartphones more than ever to access company websites. If your website isn’t mobile-friendly, it’s going to drive consumers away, consumers who will simply assume you are a poor-quality business or do not care about your e-commerce presence.