If you are a small to mid-sized business owner looking to optimize your business strategy here are my top three keys:
1. Create/Articulate your unique value proposition (UVP)
A value proposition is a two-sentence phrase that communicates what it is that your company does that your competition doesn’t do, can’t do or won’t do in the market place. It documents how you want the market to know your company.
2. Become more customer-centric
Best practices for becoming more customer-centric include creating an advisory board or user group to solicit feedback from your customers (make sure you listen more than you talk), align key performance indicators (KPIs) by using customer satisfaction scores and other related metrics, do what you said you were going to do , hire/train your employees to be externally focused.
3. Better leverage social media
Social media has had dramatic effects on small and medium-sized businesses over the past 10+ years. LinkedIn, Twitter, Facebook, YouTube and many other platforms are leveling the playing field for companies in just about every industry, worldwide. If you employ or sell to Millennials and Gen Xers you realize that they are depending more and more on social media to communicate/connect with one another multiple times per day.
If you want to learn more about optimizing your business strategy please contact me directly at (615) 395-0200 or firstname.lastname@example.org.