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How to Future-Proof Your Business

anthony mederick • Feb 15, 2019

How to Future-Proof Your Business

If there is one constant in business, it is change. Your customer's spending habits, trends in the industry, disruptions in the market -- they are always changing. There are dozens of variables that could affect your business positively or negatively at any given moment. Smart business owners know this and prepare for the future. They shore up problems in their business. They look to become leaders in their industry. So how can you solidify and strengthen your business going forward? Read on as we discuss the most important ways you can future-proof your business now.

Diversify Your Business


Most companies gain prominence in the market through one product or service. Savvy business owners expand from this position so no they are not solely dependant on one particular revenue stream. Apple is a great example of a diversified company. Apple got its start by making computers for your desktop. These days Apple's revenue chart includes sales from their smartphones, tablet devices, streaming music and movies, software and more. That is future-proofing in action. Examine your business by looking for opportunities to expand your products and services. 

Eliminate Areas of Weakness

Shoring up problems is essential if you want to future-proof your business What risks is your company currently facing? In what areas do you fall short? Examine your business, from your staff and business systems to your legal compliance and liability risks. Often times, it only takes failure in one area to bring you down. For example, even something like bad web design can hurt your business. For example, is your business over-reliant on a few key members of your management or staff? What will happen should they leave? Savvy business owners consistently identify areas of weakness such as this and take steps to mitigate them.

Listen to Your Customers

Any business starts and ends with their customers. To that end, you need a system to listen to customers and track their behaviour. Every month it seems we are seeing a major retailer go out of business. Most of them are closing as a result of adapting too late to eCommerce. Customers began to expect online options and many companies didn't react quickly enough. Discover what your customers expect from your business. What are they telling your customer service agents? What feedback are you receiving? The easiest way to gauge customer experience and expectations is to simply ask. After a purchase, end your sales process by asking customers to rate their experience. Ask them to fill out a questionnaire. Send follow-up emails to ask if they are satisfied and how your company can help them. Customer feedback is crucial to identify where you can improve and where you can focus your business.

Future-Proof Your Business: The Final Word


The world is changing at lightning pace. With every innovation, you can find companies who thrive and others who fail. To future-proof your business, you need to be in step with progress. Look at trends in your field so you can lead the way. Add to your products and services in a way that makes sense and serves your customers. Improve your customer support and listen intently to what customers need and, more importantly, expect. We would love to help your business with your website. From website development and marketing to SEO and social management, we can help. Check out our services or contact us now.

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Over 30 million people attended a live festival in 2016. That is a large market to promote your business to. Plus, people spend more time wandering festivals and browsing vendors since they last several hours long. You want to get noticed and leave a lasting impression that will get those same people hooked on your product. Use these 10 clever marketing tips to attract and secure new and valuable customers at a festival. 1. Announce Your Location on Social Media Sharing your location with your social media network is one of those great marketing ideas that is simple yet effective. You can create an event page, share a live stream, and promote special items that will only be available at the festival. There is no better way to promote your business than interacting with your fans. 2. Have Free Gifts Creative marketing ideas at the festival include attracting people with give-a-ways. You can have promotional stickers, key chains, or frisbees to get people excited about your business. The products will go home with festival guests to stay in their mind for future business. 3. Use Interactive Staff The best marketing ideas won't work unless you have a full staff that engages with people. Festival attendees like to have fun, so make sure your staff encourages that enthusiasm. They should come out from behind the tables and talk to people. This can make your area look exciting and popular. 4. Have a Good Deal Sometimes vendors overprice their product because they figure that festival-goers have no option but to buy at an inflated price. But, this can backfire as people look for value since they've already spent a lot of money on tickets. Take a look at your price and the value of the product. Consider offering a discount or bundling products like a drink included with a meal. 5. Collaborate with Other Vendors Innovative marketing ideas can include help from your neighbours. Offer discounts and promotional items if a customer visits your partnering vendor. This can attract more people and show that the community values your company. 6. Get a Good Location Location is key to foot traffic and getting noticed. if you can get your registration in early and spend a little more money for a prime spot, then do it. It not, invest in arty signs throughout the area to direct people to your location. 7. Get on the Festivals Payment Option Many festivals use promotional ideas like prepaid wristbands or smart cards. You can accept this form of payment to attract more customers and get paid easier. People with prepaid options tend to spend more and won't have to worry about finding an ATM. 8. Collect Data for Future Festivals Make sure you keep track of what works and what doesn't so that you can improve next time. You can ask people how they found you or if they like you on social media. Also, look at your sales to see which items gave the most profit. 9. Hold a Raffle The easiest way to build an email list is by holding a raffle. Get people to fill out a slip with their name and email to win a prize by the end of the festival. Then you have an email list that you can use to send promotional items and keep then aware of your business. 10. Go to the Right Festivals You want to make sure that there is a market for your product at each festival. So, know your festival type. You may find a niche that works better than going to every festival in the state. Create a List of Marketing Tips Choose which marketing tips that you would like to try and start a list of how you will implement them. This will keep you organised and focused. If you haven't done so already, start building your social media presence. Contact us to develop your marketing online to increase your traffic.
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