What Businesses are Doing to Improve their ROI in 2020

It’s almost 2020; if you haven’t reached this year’s business goals yet, it’s time to hustle. You want to greet the new decade with a kind of energy and enthusiasm that will propel your business closer to success.

And if you don’t, fret not because we are here to share ways to increase your returns in 2020 for the investments you have made this 2019.

1. Go Green

Is there a way you can inject sustainability in your brand? If so, do it right now. Green is in and more consumers are leaning towards eco-friendly brands. But you do have to make sure to walk your talk. Buyers today are not easily convinced by marketing jargon. If they detect that you’re greenwashing, they’ll stop buying from you. 

Really take time on this one. Even something as simple as biodegradable packaging or accepting used product containers will go along way. Your customers will be impressed and more likely to stick with your brand.

2. Focus on the Youth

Young adults comprise a big part of the consumer market so it only makes sense to focus most of your marketing efforts towards them. If you’re already doing social media marketing for your business, great! Time to tweak your strategy so that it speaks to the younger generation. Get acquainted with content trends and don’t be afraid to try new social platforms. 

3. Real-time Customer Service

A customer served right away is good for your business and AI chatbots can help you with that! AI is already a growing industry. In fact, you may already be experiencing it yourself. When you go to your favorite e-commerce website, you may see a small chat box that’s available in case you have any questions. Now wouldn’t it be nice if you have that for your own too?

Instead of having a human who can only service the chatbox for limited hours during the day, why not use an AI system that can be left idle for hours and still be active 24/7 to answer any customer inquiry? It’s very cost-effective and can help increase your sales.

4. E-Commerce-ify Your Website 

You probably already have a website for your business but is it shoppable? There’s nothing more frustrating than going to a brand’s website and realizing you can’t even buy from it. Online shopping is already mainstream, and its impact on brick and mortar business is real. If you only have a brick and mortar store but no e-commerce site, now is the time to get on it. Make sure all your products are shoppable online. You’re likely to get more sales here and you may not even need a physical store!

5. Remote Work is the Future

Speaking of a physical store, do you also have your employees work physically in the office too? You may want to consider transitioning into remote work. The idea of not being able to overlook everyone’s work is hard. It takes a lot of trust and collaboration to run a remote team effectively. But once you have that taken care of, it can do wonders for your business. 

For one, people are happy to be working independently in their homes. Second, they’re more motivated and accountable for doing their part. And third, you may never have to pay for office rent space ever again! The money you gain from this process can be better utilized in other efforts that help grow your business.

In Conclusion

Other businesses are already doing these too! You don’t have to wait for the new year. If you have the means to do it now, good! The sooner you start, the faster you’ll see those returns.

What other steps are you taking to prepare your business for 2020? Share your thoughts in the comments below.