With the excitement to enter the New Year, there is hope for endless opportunities and possibilities the year 2021 will bring. For every size of the business, resolutions must be designed that help you out stay motivated and consistent throughout the year. A one-time plan might not conclude results accordingly but multiple attempts pave the roads to cope up with major challenges that come the way.
The year 2020 was not less than a dark perspective of life where all businesses experienced a serious jerk in their sales and revenue. The ultimate lockdown situation due to the COVID-19 outbreak has shaken the foundation of even large enterprises. On the sunny side, it enabled a sense of resilience in all organizational processes to just not only survive the crisis but also thrive by overcoming those dynamic potential challenges.
We have mentioned below some 2021 resolutions for businesses with respect to their scale. Each business entity got affected by the hard times and strived to control the circumstances to their full. The intensity might vary, however, the vision and purpose of every business remain the same. Nevertheless, below are some 2021 business management resolutions for small and medium businesses (SMBs) and large enterprises.
Ensure Guaranteed Management
Management is the first step to business growth. Here we define management as “The system of administering each module and process of your organization in a highly efficient manner”. A holistic strategy is to determine all the business processes and optimize them with respect to each aspect to make them highly functional. Some common business processes include data management, HR management, task or project management, sales and leads management, marketing plans management, and digital processes management, etc.
For instance, small businesses or young startups need to first align the data management processes from start. Instead of manually managing each record on an ad-hoc basis, a database must be maintained to keep track of each entity. The additions could be made periodically. The medium-sized and large enterprises can automate the process of data management. Through advanced business software, the data can be maintained, tracked, and monitored seamlessly without any manual effort. As the size rises, the intensity of work and its effect increases. For larger enterprises, managing a bulk of data manually is a highly inefficient and time-consuming process. In this new year, establish a firm foundation of the data management process by keeping each and everything consolidated in one place for easy access.
Read: Boost Up your Business Workflow with SugarCRM Implementation and Automation Capabilities
Refresh your Business Plan
Establishing a business plan is a thing must do this year. Your business might suffer amidst the hard times of crisis. This is the time to recover your investments by obtaining profits you were unable to get in the previous year. For this, you first need to revamp your business plan. Determine the elements that directly or indirectly affect your business. Are these your stakeholders? The wasted investments? The limitations in your business infrastructure that need makeup? Prioritize your crucial processes and refine them to the extent the stage requires.
If you are a small business, it is appreciated to design a business plan for the next quarter. You can also give highlights for further plans in the draft form that could be proceeded with accordingly. For enterprises, a business plan must contain each and every factor that is influenced the past year. Institute a plan of action to overcome those similar challenges in this new year.
Automate your Regular Processes
We all know the pace with which the world is adopting cutting-edge technologies. The time is to automate those processes by employing innovative business solutions. For instance, instead of hand-operated processes, that require additional effort, time, and resources, businesses should move forwards towards automated applications. Any business can shift the business operations in a CRM or an ERP system that manages all business dynamics in a seamless manner. The system predicts your performance, reminds you of meetings, sends automated emails to your clients, help you remodel the marketing campaigns, and most importantly, give you revenue predictions for next month. How cool is that!
You being a small or a large business need to adopt solutions that align well with your business needs. Automate the processes such that business productivity could be increased. You can utilize your potential employees in other high priority tasks by automating certain system modules. The more the productivity will be, the greater will be the business growth.
Also Read: 10 CRM Trends and Predictions to Watch Out For 2021
Retain your Customers
Your customers are your business. The happier your customers would be, the stronger your brand image would be. Customer satisfaction is crucially important for businesses that create a reputation in the market. First of all, sales funnel management should be flexible enough to entertain customer concerns, interests, and demands in a flexible manner. Customer satisfaction should be ensured by providing a highly personalized experience for customers. The year 2020 was hard for businesses with respect to customer retention. Many potential customers left during the global lockdown. In 2021, the major objective should be retaining your customers.
Businesses must incorporate the factors that highly contribute to customer retention,. Whether it is your software, customer support services, or the marketing department that needs stringent planning. The ultimate goal of customer retention should be achieved by keeping business profits at the level.
Stringent Customer Service Framework
In any business and its survival, your customer service department plays a central role. Invest in making your customer service center highly interactive and strong to address customer concerns elegantly without any delay. The more active your customer support would be, the higher chances would be to onboard potential clients.
Small businesses can start with the establishment of customer support. Considering the high competition, large enterprises should invest in automated bots and assistants to handle customer queries in a highly efficient manner. This would ultimately add to your brand image in the market.
Update Marketing Plan
Your marketing plan should be highly dynamic. Considering the inflation in the past year, the renewed marketing plan must incorporate all the strategies and aspects that could increase the leads. Determine the channels where you could find your target audience. Revamp the marketing plan to grab your customers and generate a large number of leads.
Small businesses can design a marketing plan by investing less but by employing smart marketing strategies. Enterprises should invest in built-in marketing tools in the CRM system. This helps you run marketing campaigns automatically and get useful insights by determining their performance. Through this, the ROI (Return on Investment) can also be calculated.
Also Read: Sales and Marketing Trends 2020: An Overview in the light of Advanced CRM Platforms
The new year resolution for business management can shift the paradigm of business entities by extending their scope. An exponential business growth thus can be ensured by taking into account the discussed key resolutions. Set up your business resolutions today to make get the most out of 2021.
