Many times, we feel we are doing everything the right way in business and we do not think to evaluate some of our actions when results begin to dip.
We keep trying to re-invent the wheel or do something different without evaluating what went wrong and then looking for the right solutions to fix the problem. Its time we stop guessing and trying out new things without the knowledge of it being successful or not. It time to be intentional in how we do business.
I am going to lay out 3 very important steps to rescue a business that’s going downhill and get back on track.
Lets dig in.
Over 10 years ago, business was all about signing CAC documents, getting a store/office, employing people, promoting and selling your goods and services through word of mouth, radio or television.
That was brilliant then. But things have changed. Thanks to the internet. Some of these businesses have come to a complete shut down because another rival has disrupted the market sphere and taken over the target audience. It happened in 3 simple steps.
It’s that simple. That’s how you keep your business up and running and relevant in the marketplace.
1. Become an Authority.
Now many people may wonder how this is done, but trust me this is the easiest part of the puzzle. Here, you are simply establishing yourself as an information and solution provider in your niche. You cater to the needs of your target audience by providing relevant information that guarantees a big win.
This is done through blog posts on your site, short Facebook or Instagram Live videos and Social media updates; simply giving valuable information on what is currently happening in your market space and ensuring that your viewers and listeners are always itching to hear from you.
The goal is for them to always perceive you as the google search result they always want to click and read from.
Stop spending the huge sum of money on TV and Radio, get your target audience to listen to you and always want to hear from you, that way you win them over to ultimately do business with you in future.
2. Build an active community
To have an active community, you need to be creative and do things different from what your next door competition is doing.
How well are you responding to your target audience on your social media platforms? ITs not just to respond but you’ve got to do it with an intention of solving their needs.
Are you giving them what they need or what you think they need?
This is done by using polls, surveys and even free informational tools to get a feel for the kind of things they want to hear from you and the kind of problems they have. Then, you go to the drawing board to become creative with your response to what they have already stated.
Make it fun for your community, let them get to know each other well and trust you to always be their solution provider. Stop pushing things in their face thinking it is what they want without actively getting involved in asking them what it is they need.
Always be available to respond to messages on your relevant social media platforms. Truth is, many businesses have a bad response time, so be the difference.
3. Provide solutions on all platforms relevant to your business.
Conquer one and then you conquer all. This is the best strategy you need to understand to rescue a failing business. Find that ONE platform that has your ideal clients on it do Point #1 and #2. Do them so well till you are seeing massive results. Then you can go on to the next big platform.
So if you started out on Facebook because you conducted different searches and narrowed it down to the fact that a good segment of your target audience is on Facebook, then start there. Become an authority with consistent updates and impeccable response time to comments and questions. Once you are getting more numbers, an active and engaging community then its time to duplicate your efforts on the next platform that has your target audience waiting to hear from you.
Now, these 3 points listed have been tried and used by Fortune 500 successful companies. Its no more about tossing products into the public eye and hoping that whoever is interested in calling you with their cash in hand, ready to buy.
Business has become more intentional, you want to make a statement, give results and ultimately sell to your ideal clients. Going to work with these 3 points will help you achieve great results.