With new life of spring fast approaching, many entrepreneurs look at this time of year as both a fresh beginning for life and business. It is time for out with the old and in with the new. Some may even remember New Year’s resolutions and take a renewed look at Q1 business goals. Now is a perfect time to dig into some of the testing you may have been running with different campaigns, marketing initiatives, joint ventures partnerships, the launch of new products and services, or phone scripts.
Every once in a while we all need to be reminded of product lines and margins. Now is an excellent opportunity to go in and do a product mix audit – analyzing profit margins, customer feedback, vendor performance, supply chain operations, and marketing messages. When was the last time you looked at your products and services? When was the last time you had someone secret shop your company? When was the last time you looked at customer feedback regarding customer satisfaction and loyalty? When was the last time you looked at conversion, traffic, and the growth of your list on your website?
As spring cleaning is upon, here are some suggestions of a few things to look at with your business:
- Direct Mail
- Referral Program
- Special Events
- Joint Venture Partnerships
- Purchase Frequency
- Average Ticket Size
- Number of Customers – Trends over time
- Marketing initiatives
- Employee training
- Sales personnel
- Administrative Needs
- Customer Care
- Growth and Expansion
- Emerging Markets
- Website (eCommerce and general online presence)
- Competition (When was the last time you researched them?)
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