Tips for a Better Success Strategy in 2020

The beginning of the new year, marks the beginning of a new chapter, a chance to make things better, in both personal and professional endeavors.

Inside Telecom provides you with a few essential tips on making 2020, a successful year for your business.

Making your current customers feel appreciated

Retaining customers with loyalty programs and rewards schemes is a smart way of keeping loyal customers close and ensuring they will not stray to other competitors. It is apparently more difficult to gain new clients than it is to retain old ones, so show a little appreciation and focus on a strategy that provides reciprocal benefits to loyal customers. The level of proactivity you demonstrate, will determine the growth of your business.

Gratitude contributes to overall happiness. If you establish a strong element of trust between you and your customer, they will most likely invest more in your services and products over time. Don’t be a vendor to your customers, be a partner!

Social media revamp

The start of the new year calls for a more polished social media strategy. Ensure your corporate identity is well represented on all platforms. Setting up a robust profile with rich content for customers to engage in, is the only way to drive traffic and to ensure you are staying relevant to your diverse audience. It has become an important way of helping businesses connect with customers whilst showcasing expertise, brand values and products. Grow revenue by building a community around your business using social media pulling-power. Don’t be afraid of trying new ways to engage your customers online – video content comes highly recommended.

Know the competition

It can be very easy to operate your business with tunnel vision – only seeing the direction of your goals and not allowing yourself to be distracted by others in the business. However, it is very important to research the competition around you to help improve your own strategy. The industry is largely saturated and there are a lot of big players that you should be aware of, to help make your own products and services stand out. Use this knowledge to empower your vision and help further refine your business strategy. Know your competitive advantage and without delay, target your efforts in that marketplace. Utilize competitor information to lead, not follow.

Social responsibility

Customers today, place a high value on social responsibility and respect companies that prioritize the needs of the community through local initiatives. Without the element of giving back to your community, people around you will feel less inclined to buy into your products and services. Instead, customers wish to engage with a business that has cultivated positive brand recognition. No strategy should be complete without a well-thought out CSR plan for the coming 12 months, to show existing customers and new ones that you genuinely care about the community you serve. Note that initiatives must be ingrained into your corporate identity and not just a superficial ‘accessory’ to your business strategy. Authenticity is key.