5 New Year Resolutions for Small Business Owners in 2020

25 Jan 2021

2019 has been no short of an eventful year for business. We saw significant developments in how we should converge and utilize different technologies. We saw the welcome rise of women in tech, net neutrality, growing hype of 5G and many more and they have ushered in positive vibes for the business community in 2019.

Well done 2019 and thanks for the happy memories provided!

Are you done with your New Year resolutions?

We know most of the New Year resolutions are about beefing up on the personal front ( such as hitting the gym more often, leaving ‘puffs’ forever and so on) but there is no reason why your business shouldn’t be allowed to beef up too. Instead, we believe that, even if you had a fantastic 2019 businesswise, it’s wise to make business resolutions this New Year so that your business can make that all-important leap to the next higher level.

Here are 5 New Year resolutions you can make to build a more flourishing business in 2020-

  1. Strengthen your customer service

Let’s get this straight! By providing your customers and potential buyers a seamless experience, you can outclass your competitors for sure. And, excellent customer service cannot be provided from a ‘counter’ anymore. Customer service interactions of the modern age call for increased transparency and web-presence and virtual ‘word-of-mouth’ has the power in it to ‘make or break’ your hard-earned business. Research shows that by 2020, customer service will become the most critical component of any business, leapfrogging past price or product.

So, start putting your best foot forward in this direction and gather those all-important “5-star reviews”.

  1. Work on your social presence

Having a Facebook account for yourself is one thing and making your business active on social media platforms is another. With the latter, you need to do a lot of work from refining your tone, learning the ‘art and science’ of interacting with your social media followers and so on. And of course, you need paid promotion along with organic postings.

Make sure your business strikes a chord with your followers across social media platforms and make yourself more accessible with your followers. It will lend more credibility to your business. We talked about providing quality customer service to customers, and you can offer quality service through social media channels as well.

  1. Own the power of digital marketing

Conventional advertising is fast becoming a thing of past now. Most consumers are becoming desensitized to conventional means of advertising that tend to follow them wherever they go. This is where the power of digital marketing finds its well-deserved space.

Digital marketing is all about increasing the visibility of your business with the help of Search Engine Optimization (SEO) basics. Learn to channelize the power of digital marketing for the growth of your business this New Year and start creating high-value content, with keywords that can link potential customers to your business. You may even think of hiring a digital marketing agency to manage all the aspects related to digital marketing on your behalf.

  1. Get mobile friendly

Studies have shown that about 90 % of the small business owners have not optimized their sites to be mobile-friendly and you are indeed losing out on incremental business if you are among them.

Sounds awkward but true! By not being mobile friendly, you give an impression of not caring too much about your business to the increasing population of mobile users. Mobile is ruling e-commerce already as almost 66% of the American online shopping time is consumed on smartphones these days.  

Mobile optimization is a large task and takes care of multiple aspects of your business such as brand building, customer service, traffic generating and establishing relationships,  to name a few.

Making your site optimized for mobiles has to be a part of your New Year resolutions, if not already!

  1. Reach up to your target audience

Have you taken time so far to define and reach up to your target audience, instead of casting a wide and ineffective net all along?

If you think you have not done enough in this aspect- do your research this New Year, zero in on your target audience and focus your marketing and other efforts more on them. Do understand that your business can't have everything for everyone and instead, channelize your time and energy more to appeal to those consumers who are more likely to get engaged in your business. This renewed focus will give the much-needed meaning and purpose to all business decisions you make from now onwards.

You may even decide to go up close and personal to your customers through workshops, meet-ups or even informal get-togethers. Use such occasions to express gratitude to the customers for their support and patronage. This will not only boost your rapport with your customers but will also allow you to know about ways to serve them better. This will also spread much-needed goodwill for your business and put you above your competitors.

Hope you have found out your business resolution(s) to make this year. Then we would like you to commit on the one(s) you have zeroed in on and ensure that your business remains progressive and stays proudly afloat among the stiff market competition.