How Do I Reduce My Costs?
Use Digital Tools To Save Time
There are digital tools now available for almost every need and business sector. If you're a consultant needing to manage client notes centrally on the road or a personal trainer that needs to manage their busy week schedule, search for tools that can be adopted to make life easier in your business, saving time and reducing costs - Download 30 Digital Tools For Business.
Monitor The True Cost Of Your Sales
A sale is a sale, right? But what if you spent more on getting the sale than the profit you make. Many businesses large and small fall victim to this. Using Business Intelligence you can not only monitor if you're losing money in your sales cycle but also look for areas to improve it - reducing your cost per sale and overall costs to the business. Monitor your sales cycle through your CRM system on a regular basis and don't get caught out.
Move Your Business To The Cloud
Many businesses still own and manage their own servers and software platforms, paying IT companies a small fortune annually to support them. Re-assess what technology your business really needs and use lower-cost cloud services to replace those expensive capital purchases and support costs. This will also allow your business to operate anywhere with an internet connection and all costs are fully tax deductible.
Integrate Your CRM, Accounting & Marketing
Streamlining your business and simplifying processes is a great way to reduce costs. Analyse your marketing tools, your CRM and accounting platforms to look for ways to automate and link them together. This will not only let you monitor, analyse and review performance overall but also save you A LOT of time managing your business.
Automate Your Customer Relations
We don't mean remove the personal interaction here. Use automated messaging, customer updates and friendly offers using formats such as email or SMS to keep in touch with your customers and clients without worrying about finding the time. There are a number of tools such as AWeber for automating emails and many for SMS. These can be used to offer discounts off your next purchase or to simply get your customers more engaged with your business.
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