- Assess How Your Home Business Contributed to Your Goals
- Review your Customer Acquisition and Retention Strategies
- Analyze the Financial Numbers of Your Business
- Think of a Backup Plan for Your Business
- Analyze Your Web Analytics
- Prepare Your Mind for New Challenges Ahead
- Assess Your Marketing Strategies
- Make a List of Strategies that Worked
- Check Your Competition
- Develop Your Goals and Strategies for Next Year
- How to Start a Successful Small Business
Marketing is a huge chunk of your daily efforts, both in time and in expense. It is important that you periodically monitor what worked for you in terms of bringing in the most sales, increasing awareness to your brand, and engaging with your customers.
- How do you market your business? Do you think you’ve used the best methods based on your goals and resources to reach your target audiences?
- Do you measure the success of your promotions? Do you know which marketing and advertising campaigns worked best in generating response? It is important to have a clear definition of success for each marketing action.
- Have you set clear targets to achieve in terms of sales or revenues?
- Do you know the return on your marketing investments? Compute your return on investment and find out how much each campaign actually cost.
- How do you craft your advertising and promotional materials? Are you including a strong call to action in your ads? Are your headlines compelling enough? Remember it takes two to tango – while advertising in the right medium is important, your ad should also be crafted to elicit the response you want.
- Are you using email marketing? How effective are your emails in bringing in sales? How can you improve your response rate? Look at the regularity of your emails, the subject lines you use, content you send out, and the quality of your lists. Email marketing, done the right way, can be a huge source of sales and return traffic for any business.