Correct These Mistakes To Save Your Business Before It Is Too Late
It’s important to be aware that 90% of businesses will fail in their first year. While this is a rather bleak statistic, it’s an important one to keep in mind. It will ensure that understand why you can’t afford to make any serious mistakes with your business. There are a variety of mistakes in business that you can bounce back from. However, there are others that are going to kill your company stone dead.
These are the problems and issues that we’re going to explore today. You need to make sure that you are correcting these troubles as soon as you can.
- Does your business have reviews online at resources like Google?
- It should and you might ask: why does my business need Google reviews?
This is a good question and the answer is simple. Reviews provide customers with the security and the peace of mind that they want.
More than 80% of customers are going to check reviews online before committing to the purchase of a product or service. Why is this?
- Customers are always more likely to trust the word of other customers rather than direct messaging and brand promotion from your business. That is in many ways to be expected because they know that you have one goal in mind.
- Customers are simply expressing what is likely to be a real opinion about a product.
So, how do you build up reviews?
Well, believe it or not, the best way is to ask. After a customer engages or buys, request a review and you’ll be amazed by how many you receive.
A lot of businesses will avoid taking this step because they are terrified of the issue of a negative review. However, one hundred mixed reviews are always better than zero. Zero suggests that customers aren’t using your services or you have something to hide. Both perceptions will lead to problems for your company which must be rectified.
If you do get a negative review that could be damaging, you can’t ignore it. You need to make sure that you are taking steps to correct the issue. Address the review publicly and make sure that you send a clear message to customers that you do care about their opinions and want to make the right improvements. This helps you with both the customer that left the reviews and the users who are checking out responses to your business before buying.
Dangerous Marketing Techniques
There are a lot of marketing techniques that will seemingly deliver fast results for your business online. An example of this is buying follows.
Buying follows may seem like a great idea because it does boost the appearance of your business. However, you need to be careful here because it’s possible that you get caught. If you do, your business will appear significantly weaker and this is actually going to damage your reputation in the long term. Social media networks have been cracking down on the use of bought follows too.
This isn’t the only dangerous technique. There are a lot of false promises out with companies claiming they can get you to the top of the SERPs. There’s just one problem here. Even Google has admitted they can’t promise this which should tell you exactly how organic this process is. It’s entirely based on the algorithm and it’s vital that you are aware of the challenge here.
That means that you shouldn’t just any business that suggests they can provide you with the right results overnight. In most cases, this will be a scam. If it’s not a scam it could be a cookie-cutter service. Here, you will be provided with marketing but it will be the same solution delivered to every business. Marketing needs to be more personalised than this. It needs to match the individual goals and objectives of your brand.
The worst-case scenario here is that you will earn a Google penalty. A Google penalty will knock your company out of the running completely and lead to a difficult situation. Ultimately, recovering from the wrong Google penalty can become an impossible challenge for the typical business.
A Lack Of Quality
We’ve already mentioned the issue with reviews. As such, it should come as no surprise that quality is an important consideration when navigating the modern business market. You need to make sure that you are putting the right checks in place.
It is absolutely vital that you are not causing damage to your business brand by providing a solution or product that customers won’t be able to trust to match their needs and requirements.
Usually, if there is a problem with the quality it can be sourced back to an outsourcing solution. Outsourcing is one of the best ways to save money in business. It will ensure that you can cut costs in the right areas. However, you do need to make sure that the service provided matches with the high standards of your company.
Remember, if there’s an issue here it will hurt your business far more than them. Your customers will blame you and that’s why you need to vet an outsourcing service carefully.
Finally, you do need to make sure that you stay in the green when you are running your business.
Going into debt is one of the easiest ways to kill the longevity of your company. It makes your business far less attractive to investors and weakens your position on the market.
You can avoid this issue by making sure that you do hire an accountant. They will be able to keep a check on your books and they can even make sure that you are able to save in key areas. An accountant can also provide the additional benefit of helping with taxes. This can always bring heavy costs for any business. The right accountant will show you how to save here and save legally.
We hope that this helps you understand some of the mistakes you can make in your business model and the steps that you should take to prevent disaster.
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