Spend 5-8% of your total budget on marketing in the first year. “In our study of the cost of starting a business, we found that companies that spent more. On marketing in their first year had less revenue.” Make sure you’ve covered the following bases. Before launching any sophisticated campaign: Choose the right social media channels for your brand. And once you’ve chosen your platforms, make sure your brand appears consistently and consistently across all of them. Optimize your website for sales. It only takes a second for a customer to form an impression of your website. Everything from homepage navigation to site speed to the checkout experience needs to be on point.
You can link to offers on your website that capture email sign-ups. For example, a 15% sign-up discount), or use your social media accounts to run a free giveaway in exchange. For contact information. You can even start doing this before launch with your “coming soon” page. Reward loyalty. It is more affordable to make money from loyal customers than to find new customers. Consider creating a VIP program for your loyal customers and offer them discounts for their referrals. Cross-promote with complementary brands. Cross-promotion allows you to associate with related companies that can market your services, in exchange for you marketing theirs, at no cost to either of you.
Grow Your Email List
Are there any local influencers in your space who Cameroon whatsapp number list might be interested in your product? Offer them gifts in exchange for a mention on your platform. Identify key performance metrics (and track them). You’ll want to familiarize yourself with Google Analytics. To see how your website is performing and where you’re losing customers. And if you’re running paid campaigns, calculating customer acquisition costs is one way to see if your marketing efforts are working. Practical guide to Google Analytics for your online store Throughout this guide you will understand the importance of using Google Analytics and the most important metrics that you must take into account to have total control of your store and grow your business.
Plan a good shipping strategy In the age of free shipping, small businesses are under pressure as they try to remain competitive against the likes of Amazon. While big brands with large shipping volumes can negotiate lower rates with carriers, smaller companies with smaller shipping volumes have no bargaining power. That usually means they have to settle for high rates and absorb shipping costs if they want to offer their customers affordable shipping. Before doing anything, ask yourself: Are you going to pass on the full cost of shipping to your customer, charge a flat rate or absorb shipping costs? Are you going to get free packaging from a carrier or are you going to use branded packaging?
Meet The Micro-influencers In Your Market
Are you going to make international shipments? Are you going to insure and track the packages? The answer to these questions influences your total costs, so understanding them from the beginning will allow you to allocate enough money for shipping. Typically, small business owners have to negotiate rates themselves with each carrier individually. Free guide: Preparation and shipment of merchandise From deciding how much to charge your customers. To understanding insurance and tracking shipments, this comprehensive guide will take you step-by-step. Through the entire process. 7. Know your tax obligations (or hire someone who does) Tax laws and regulations are complex and can change often, so being aware of your tax obligations is essential if you want to avoid large penalties or fines.
Plus, understanding the tax laws means you can take advantage of some real cost savings. There are many ways for small businesses to legally reduce their taxes. Some tips to keep in mind in your first year: Keep your business receipts. The parking fee on the way to a client appointment, the coffee you have on the way to the office… all these small expenses add up over time and can be accounted for as business expenses if you keep the receipts. Find deductions for your business in your own home . If you run your business from home, you can deduct a portion of your home-related expenses, such as heating, electricity, and other home maintenance expenses. Hire a family member. Check with the Treasury if you are in Spain or the Fiscal Agency of the country where you live to see what options you have.