A small to mid-size enterprise (SME) is a Business that maintains below a certain amount sales, assets or number of employees.
State of the poor economy due to a drop in footfall business across the world has hit hard on all businesses but small and medium business is less with supports are impacted most. Business owners are feeling the heat of epidemics like corona virus impacting in dropping sales and low ROI on their investments.
Whether you are affected business or you are looking for increment in sales the mention points give you the insight of things you can strategies and will work out as a new perspective to handle the current turbulent time. Your decisions & suggestive implementations during this phase will have a long-term positive impact on your business.
In this article, would like to share two different activities that businesses can plan and review. The first one is the traditional or conventional methods other are Optics & Content (O&C) approach. The traditional approach makes you due diligence in your current sales & marketing operations and finding the gaps like an extension of markets, channels, products or review pricing strategies but the O&C approach makes you ready for markets and stimulates the traditional methods and leads to substantial growth.
Conventional Methods:
Extension of Market:
Markets can be expanded by adding new products, territorial areas or adding a complementary product line.
Pricing Strategy:
Pricing impacts buyers mind fast so incremental or decrease in prices, Product bundling, offers coupons or discounts and rebate are some of the impactful strategies for pricing
Rejuvenate Sales Channel:
Refresh sales collateral or by incentivizing sales partners or by connecting old partners.
Optics & Content Approach
In 2005 a group “ The Design Council “ findings 63 important companies in FTSE (Financial Times Stock Exchange) in a decade and find an outcome that companies that put prominence on design elements did significantly better than the ones which did not work on it. It is proven that every 1 buck spends on design element bring back 2.5 times in future profits.
Are as you can work on design elements
1. Study Web Design –
Study Web Design, which is for strong consumer trust. Look at the first encounter of the consumer. A bad or unimpressive design leaves space for the trust of customers on your business. Find the right partner that can make an impactful successful design and t builds confidence in the customer's mind.
2. People first Consume Through their Eyes –
People first consume through their eyes before they consume the product. Work on packaging design because product packing defines how people react to the product. Packing design is a big influencer in creating perception for products and services. Visual appeal for any product can be made in less than a second so follow expert.
3. Improve Target Audience –
Improve Target Audience by making design changes align & tune to your new target audiences. This will help in the brand transition to people, which were not in your list of the target group. Do some style adjustments to appeal to larger groups.
4. Reframe your Social Media Strategy –
Reframe your social media strategy in content and design elements. Think about how to be more searched and liked. Graphics play an important role in scroll stops. Capitalize on new trends and designs on the base of popularity and objective to make aware. Talk about what people want to hear with the right optics and make a last impression in the consumer mind for your brand.
5. Create Visuals –
Create visuals that give a message of your morals brand carry and want to communicate. Be it your trader’s distributor or customers built the message that appeals to all.
6. If you have an outdated logo not aligned to your line of customers evolving in the market think of new logo design. Change in the logo will be a good business decision if their needs of the hour during the time of slow down. Evaluate on the basis of competition, trend, your past marketing results v/s investment.
Conclusion –
Design is a good business decision to engage and bring the value invested return back. Tough Times in economies never last for long they are bound to revert with fresh possibilities. Business scholars say in the phase of down business, companies survive who reinvent themselves by understanding their customers and by bringing newness in their products, sales strategy and majorly the way they are presented to the world by fresh optics a design. Strategies are powerful revenue producers in tough circumstances, but the growth of your company will depend upon your understanding and unique designer ways to the customers you serve.
At last, you will be glad that you spent on design elements improvement in your company as during the tough times when you have time to do something constructive, don’t lose the opportunity to bring time to its best possibilities and get ready for the future.
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This post first appeared on Seven Ultimate Ways To Make Your Small Business Website, please read the originial post: here
