From the British Chambers of Commerce to the Organisation for Economic Co-operation and Development and the Bank of England, the consensus appears to be the same, that 2014 will herald growth that will see the economy recover to levels higher than before the financial crisis hit UK businesses.
That's great news for everyone - the big question is - are you and is your business ready to make the most of this growth?
We all know there are effectively only 3 ways to grow your business:
1. Get more customers
2. Increase your average transaction value
3. Increase transaction frequency
The good news is you don't have to do all three to grow your business. Get just one right and the growth will come.
In a recent survey, over 60% of business owners didn't know:
a) How many customers spent with them in 2013.
b) Their average transaction value
c) Frequency of customer purchases
I'm sure that doesn't apply to you!
So - what's your growth strategy in 2014? Update your website? Improve your search rankings? Better use of Social Media? More direct mail? E-mail marketing?
Sometimes it can be a challenge knowing where to start - and working out what's going to bring the best results. Some business owners are too busy working in their business to work on their business. Others spend hours on vague activities, or responding to other people’s agendas. Is that familiar? Are you one of those business owners playing “Blind Archery” (thanks to Dan Kennedy for that one!)
What's for sure is that "if you keep doing what you always did, you'll keep get the same results that you always got". And maybe, that's just not good enough for you or your business.
If you want more from your business in 2014, and are eager to share in the growth that is forecast but not sure where to start, talk to us - we can help. We won't bamboozle you with marketing gobbledegook and we don’t claim to be experts at everything – but we know where to look to get the answers to the questions that business owners are faced with.
If you’ve got it covered – that’s great. We wish you every success in 2014 and beyond.
If you need help to make 2014 a great year for your business just give us call on 01952 884876.
I champion the best businesses in Telford and Wrekin, businesses recommended by you. If you run a local business or know a really great local business that you think deserves to be known by more local...