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| Tips to Help You Revitalize a Stagnant Business |
There are times when your business may need a "jumpstart", something to get the interest and excitement flowing again.
Maybe it's because your business has been shut down or restricted due to outside conditions (COVID-19 anyone?) or maybe simply because you or what you offer is in a rut? No matter what the case, when you have a small business, it is easy to get complacent and bogged down in the seemingly endless responsibilities of running your own business.
Things like paying bills, managing employees, and all the other things it takes to get through the day, can be daunting. You can find yourself burnt out or in a rut. But that is not good for you or your company!
In order to really succeed and grow, you need to be willing to embrace change and strive for innovation you need to find a way to revitalize your Business! And the quickest and easiest way to do it is to Launch a new product or service!
Adding a new product or service to your business is a great way to propel your company in the right direction. When done right, it can bring a new interest and energy to your entire company.
5 Benefits of Adding a New Product or Service to Your Small Business
- Keeps your Company Fresh and Current
- Helps You Get Past a Lull or Slow Time
- Reawakens Your Interest and Passion for your Business
- Solves a New Customer Need or Problem
- Attracts New Customers and Interest in your Company
Even the best small businesses can get stagnant ~ and that is increasingly true the longer you have been in business. Staunchly holding on to only what you have done in the past does a disservice to you and your clients. Infusing your business with new and innovative ideas keeps you moving forward.
Helps You Get Past a Lull or Slow Time
Many businesses go through periods when their sales are slow. Adding something new can help infuse your company with a new source of cash.
Reawakens Your Interest and Passion for Your Business
Even business owners can get bored or complacent. Developing a new product or service can be just the thing to get your mojo going like it did when you first started. Brainstorming sessions and the excitement of the launch may be just what you need.
Solves a New Customer Need or Problem
The best products or services stem from solving your clients’ problems. Tap into the good relationship you have with your existing customers to find out what they need ~ and then figure out what you can do to help. The answer can lead to the perfect new product or service for your company!
Attracts New Customers and Interest in Your Company
Chances are that there are others out there who have the same problems and needs as your current clients. Offering a new product that solves that problem will attract those potential new customers. These customers may not have even known about your company before, but now you will be on their radar.
The lure of these benefits will tempt you to jump right in and get your product on the market. But this is when you need to put on the brakes ~ at least for a little while! Take time to do some research and reflection before you go public.
4 Questions to Ask Yourself Before Launching a New Product “Tweet This”
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| Kimberly Kline, API |
The perfect place to start is by asking yourself 4 vital questions ~
- Does it tie in with your company brand?
- Does it help you achieve your goals?
- How will your new product fit in with your existing ones?
- How will you market this new product?
That is why making sure that your new product closely matches the brand and goals you have established is vital. Now is not the time to offer something that is contrary to that image.
Fit should also be considered. Is this new service compatible or complementary to what you now offer? You may even consider dropping one or more of your current products that are no longer performing or relevant.
Instead of starting from scratch, another option is to revamp one of your existing products or services. The key is to keep in mind current need. Sometimes all it takes to generate new interest is to tweak what you already offer.
Marketing this new product should also be addressed. You will obviously want to inform your existing customers of your new addition. Giving them a sneak preview and even a special “before official launch” deal is a great way to start.
But you will also have to consider how to garner the interest of new clients. Preparing eye catching and informative posts for your social sites will surely be part of your strategy.
If you have a blog, then you will also want to create at least one article focused on your new product. This is the perfect opportunity to go into more depth and really share the problem or need your product addresses.
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| How to Launch a New Product or Service |
If you don't blog for your business, this might be the time to start! Blogging will help you keep your passion and focus fresh ~ and it is also a great way to help your clients solve their biggest problems!
To learn more about how blogging can help your business, check out “Are You Afraid of Starting Your Small Business Blog? I can Help!”.
Only after you have asked and answered these four questions, is it finally the right time to launch! And you will now have taken the quickest and easiest step to help revitalize your business!
Interested in help with your blogging efforts? Contact API Now!
We can edit your existing blog, write an article for you, or even guide you in getting started from scratch.
We can edit your existing blog, write an article for you, or even guide you in getting started from scratch.
Please visit our Hiring, Business Mentoring, Security Consulting, and About Us pages to find out more!
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