Entrepreneurs have really enjoyed the great success on their small business journeys, choosing a good choice to start your own business comes with so many risks. One of the major risks is the financial burden that it can bring.
How you can Elevate your small business:
1. Reducing Extra Payroll Costs and Gaining More Resources
A common misconception is the hiring of an in-house is cheaper and also solves an immediate need. But all this things that are listed are not usually the factoring in the added costs. For the onboarding, the recruiting, the training, and then retaining the employee with much expenses. Even an extra expenses such as for the health insurance, the retirement plan matches, the vacation and the sick days, the payroll taxes, the life insurance, the disability coverage, the tuition reimbursement, and even more.
When all is said and done, for you to hire a new employee usually totals about 1.25 to 1.4 times the base of salary range. Addition of the time that was invested in training the new person and also familiarizing them with the business.
And if that employee finally ends up leaving, there goes a very huge investment.
Even if you notice that an outside marketing agency seems the more expensive based on their hourly rate. It is often a more cost-effective solution than the hiring of an in-house, not to mention the added benefits of having an expert team on the call with many other additional resources and also manpower available.
2. Modernize the Marketing Strategy
We are living in a fast-paced market. The New apps, the trends, the SEO updates, and the best practices are constantly coming and going.
Are the small business owners able to capitalize and stay on top of it all and also maintain efficient conversion rates?
A modern marketing strategy will utilize the inbound marketing techniques, such as the high-performing web content. In addition to the more traditional outbound and the marketing methods, such as the commercials and the PPC ads.
Today’s marketing strategies cover a wide broad range from the keyword research. To the graphic design, to the omnichannel campaigns, to the social media, to the call volume, to the email, and everything in between, all of these leading up to data measurement and analysis.
To be really successful, the person that is in charge of the marketing efforts needs to be very up to date with the most recent marketing techniques that is available. What worked last year or even the last month might not be effective at all today.
3. See Long Term Results
A survey was carried out and there was a record of about 71% of the CallRail’s survey respondents. Having a feeling that their business was currently well positioned for the long term growth and the long term success. But 25% of them did not feel too confident about the future of their business. And the rest of 4% admitted that even if their business continued on its current trajectory, it is suspected that it would eventually fail.
To build and to also maintain a business, it requires a long-game strategy in addition to the flexibility that is needed for you to overcome the short-term problems.