As business leaders we all understand that whilst indicators may suggest doom and gloom, there needs to be a way through. Simply staying positive, whilst commendable, does not lead to success – planning and action leads to results. Below are our suggestions for positive actions to take forward in 2023.
- Evaluate your software – is it fit for purpose? Muddling by with a multitude of disconnected systems leads to inefficiencies, errors and customer dissatisfaction. Fully aligned Enterprise Software Systems, on the other hand, improve ease of use, ensure customer data is current and provide a phenomenal customer experience.
- How about hardware; do you have the right kit for the job?Sending your sales teams out with iPads enabling real time inventory checking and orders drives sales and customer satisfaction. And if your VoIP system is linked to your CRM, all teams are better placed to rapidly offer the right advice.
- Is your data clean? Great data is key to keeping your customers well-informed, increasing sales and preventing mistakes. Yes, you need to clean your data, but also use a Single Database across your business. Having one set of up-to-date data for use by sales, marketing, operations and finance ensures a healthy platform for growth.
- Monitor marketing statistics. Digital marketing has brought a wealth of features for tracking success (and failure). Use statistics to ensure as much vital Return On Investment as possible. Do more of what works, but keep track of the stats.
- Keep an eye on customers – where are they? Are they shopping in the same ways and places… or have their habits changed? You need to be where they are whether online, in person, via social, through chat, on the phone… the list goes on. Whilst you may not be able to be EVERYWHERE you do, at the very least, need to know the most popular hangouts.
- Intelligent inventory. When times are tough, cash can be king. Don’t tie up more cash than you need to with higher than necessary stock levels. Use a back office system that offers in-depth insights into stock levels, helping you keep optimum levels; maintain happy customers and a healthy cash flow.
- Stay on top of supplies. Work closely with suppliers whether at home or abroad. Introduce Supplier Management software functionality, including integrations with suppliers, for smoother fulfilment. You’ll also be better placed to keep an eye on price changes which could impact your profits.
- The price is right. Your business may charge different amounts for the same product or service depending upon location, customer type, amount ordered, discounts, credits, etc. Make sure your system can cope with all the pricing challenges you give it – don’t compromise! Charging the right price, to the right customer, at the right time increases profits, customer satisfaction and return business (the reverse can happen without it).
- Automate. Use automation to increase competitiveness by reducing costs, improving pace and eliminating mistakes. There are so many areas of business activity that can be streamlined, improving staff morale and simultaneously improving customer service.
- Keep learning. Whilst the economy may be grinding to a halt, technology and business practices continue to race ahead. Stay alert to change that can positively or negatively impact your business and make adjustments where you need to.
If you need help with any of the above, Sparkstone are here for you. One size does not fit all and we offer a holistic approach – we want you to have business systems and processes in place that are exactly right for your business. Enterprise Software Systems provide configurable solutions to unique challenges – we’re here with you to take on the challenge!