After operating in survival mode for the past two years, many businesses are wondering how they can emerge into the ‘new normal’ and compete with the huge influx of eCommerce brands now flooding the market. It’s time to give your brand a boost, writes Chris Dahl, director of sales and growth at Pin Payments.
Small businesses dominate the Australian market, with 99.8 per cent of all Australian businesses considered small to medium enterprises. Yet, as a business founder with competing demands, it can be hard to find time to invest in your own brand.
Despite this, putting some much-needed energy into your own businesses will improve operations, guide future strategies and, hopefully, increase sales and revenue. While many businesses have been operating in ‘survival mode’ since the onset of COVID-19, 2022 is the time to turn up the heat on your operations and output.
So, here are five ways to boost your brand this year.
How to invest in your own brand in 2022
1. Consider other sales avenues
Did you know that during the pandemic social media was one of the top ways businesses boosted sales and stayed afloat? Social media platforms are a highly effective and viable business tool to help you directly market to your target audience.
If you haven’t done so yet, you can easily create a shop front for your brand through platforms like TikTok, Instagram or even WhatsApp. By doing this, you’ll be able to set up shop on your social media page as they browse through your feed.
Side hustlers can also utilise their existing followers to build their brand and generate sales without investing in other expensive tech.
2. Be open to new ways of working
2022 is the year for agility and bucking business trends. After two years of the pandemic, employers are beginning to imagine a ‘new-work world’ which blends work from home models with a more collaborative and creative office life. Big businesses are building hybrid working models which foster teamwork and collaboration instead of person-to-person office spaces.
Whether you’re working in a micro team, are a sole trader or have a bigger business, it’s time to reimagine what your workplace will look like for 2022 and beyond.
Aussie startups like Finder.com, ColourSpace and BrewDog are already doing this by bringing a bit of home to the office, creating softer lighting, curated artworks, pooches at work and more idea-inspiring spaces.
Now is the time to turn traditional models on their head and rethink your business practices, whether they’re digital, physical or a blend of both.
3. Take some time out
It might seem counterintuitive, but taking time out from work and getting some much needed rest might actually provide you with the clarity to make better business decisions.
It’s no secret that the last two years have been incredibly tough, both in business and life in general, but founders are often the last people to take time for themselves. So, make sure you schedule in some rest and recuperation time.
4. Embrace new technology
Since COVID-19, technology has become one of the most important aspects of our lives. Given that shift, businesses must embrace tech and stay abreast of new developments in order to both survive and thrive.
Interestingly, a survey we recently conducted of small to medium businesses across Australia revealed that most businesses are still operating in ‘survival mode’, due to the hit of the last two years. And of those, a large portion revealed they would not make any investments in tech this year, due to the uncertainty surrounding the pandemic.
However, not doing so could see your business left behind and negatively impact your customer and sales funnels for years to come.
5. Nurture your staff
With the Great March Resignation nipping at our heels, it’s never been more important to invest in your staff. After two years of a gruelling adjustment to the new work-world order, employees are (rightly so) burnt out!
When pulling together your operations strategies for the year ahead, think about how you might reward valuable team members and support your staff from a holistic perspective.
For example, once the world opens up, can you offer digitally nomadic staff the chance to work overseas whilst on holidays? Or perhaps you can provide parents greater flexibility in their working hours to accommodate for school pick-ups etc.
Regardless, this is the year for showing appreciation for the hard work your team has put in.
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