When it comes to increasing the productivity of your small business, an effective shared media products marketing strategy coupled with working smarter can yield tremendous results. But what exactly is meant by “working smarter”? And what can small businesses do to optimize their operations?
It’s important to remember that productivity comes down to strategizing rather than simply working harder or longer. At its core, it refers to how well an organization converts input – including labour, capital, and raw materials – into goods or services, known as output.
Organizations should evaluate every aspect of their company closely to determine where operations can be refined, improved, or outsourced. This means weighing both quantitative and qualitative data to make informed business decisions that will enhance productivity and foster success.
Here are 3 key strategies to improving business productivity and how shared media products marketing can help:
Use technology effectively
Web-based technologies are both highly accessible and highly valuable when it comes to enabling organizations to dramatically improve their operations. Businesses looking to pursue cost reduction or prevent customer service problems can employ a variety of production management tools such as spreadsheets, off-the-shelf software, and custom-developed applications.
When it comes to marketing, the ubiquitousness of technology and relatively low costs associated with digital advertisements has led to too many businesses relying solely on a mass-market approach to drive sales. The ease of email advertising, for example, employs a largely impersonal approach and the abundance of such advertisements means that prospective consumers are promptly dismissing the material. In this way, technology is not being used effectively. Conversely, a shared media products marketing approach is highly curated and personal; you can be strategic in targeting a particular demographic who is more likely to be interested in your product or service based on a variety of factors (age, income, education level, etc.).
Refine your existing set-up
As businesses grow, it becomes difficult to maintain control over the various aspects of the organization. It’s important to evaluate your internal process from the perspective of a potential investor and ensure you are preserving the objective of the business. Try to study and observe each process in your business – materials, information flow, labour, capital – to better understand the links between various elements of your production chain.
Such analysis enables you to work smarter and enhance business productivity by identifying and eliminating waste throughout your company. Similarly, shared media products marketing helps to decrease waste since organizations are better able to convert the input into an output and are investing less effort into targeting uninterested or irrelevant consumers. Thus, the advertising content is more likely to resonate with consumers since a more strategic and thoughtful approach is taken.
Strive to continuously improve
It’s important for businesses to remain dynamic in the face of a rapidly changing market to ensure their operations continue to thrive in the face of competition. This means implementing an ongoing improvement strategy whereby revaluation takes place continuously. By assessing competition regularly and taking into consideration best practices when developing your business plan, you can help ensure long-term productivity and success. Additionally, outsourcing can prove greatly beneficial when it comes to improving cost-effectiveness and working smarter.
Furthermore, it’s important for companies to evaluate their strengths and weaknesses and employ an objective approach when it comes to redesigning processes and increasing efficiency. Shared media products marketing fosters continuous improvement as it is highly measurable. Businesses can employ promotional codes or coupons to determine the amount of traffic and revenue generated from a particular campaign, meaning that a greater percentage of resources will be allocated correctly. This allows them to improve their future marketing campaigns in accordance with the conclusions drawn from past initiatives.
To find out how a shared media products marketing strategy can improve your business productivity, contact us today!