Whether it’s embarking on a new business strategy or maintaining an existing one, the return of investment is always high on priority because that is the only measurement to prove the effectiveness of any marketing efforts. Hence, thorough research is needed before setting out a plan. And that research should include ways to earn money while cutting back on operational costs as much as possible.
That’s even more important during periods of economic uncertainty like the pandemic the whole world is experiencing right now. But even in such trying times, businesses shouldn’t compromise the quality of their products and/or services in order to achieve the two mentioned goals. Otherwise, it will affect their brand and reputation in the long run. This is why it’s important to understand the essence of investing in things, especially marketing tools like Matterport 3D virtual tours that will strengthen your business while helping you weather economic storms and still make money along the way. Here are further tips that should help you achieve all that.
Innovate And Simplify
In a world where technology can be affordable, easy to use, and even simpler to implement, innovating businesses should be an obvious route. Whether you’re running a cafe, in the tourism field, or in real estate, optimizing digital tools such as 3D virtual tours not only promotes your business well but can also simplify a lot of work for you.
You can also find other services online that can help you streamline a lot of essential tasks in your businesses that can be tedious to deal with on your own. With such tasks off your hands, you can actually focus on running your business and finding ways to stay current and relevant for you to actually boost sales.
Negotiate With Suppliers
No business is spared when it comes to economic crises so everyone is more willing to negotiate if it means keeping sales going. So don’t hesitate to talk with your suppliers and ask. If you work it out with them and offer something in return like you signing up for a longer period for giving you a discount, they will more likely agree. Everyone is trying to survive, so by supporting each other like that, you’ll both stay afloat without compromising efficiency.
Make Sure You’re On The Right Energy Plan
Not all energy plans are the same. You should be getting the one that suits the needs of whatever business you’re running. So in times when you really need to be tight on your budget, why not check if you’re on the right one? Since utilities are often the biggest operational costs of most businesses, it makes sense that you review the one you’re signed up with and see where you can save up. Aside from that, there are different energy providers in Melbourne as well. Have a conversation with your current energy provider and see if you can downgrade while still covering your needs. If that’s not possible, check other providers and consider switching.
Improve Energy Efficiency
Once you’ve tackled your energy plan, time to look into how you’re actually consuming energy. There are a lot of sneaky ways your consumption can go up, like leaving the lights on in every room when you can make it a habit to turn them on only when using them. That kind of mindless usage can accumulate and costs money over the long term. The habit of turning off lights or equipment that aren’t in use alone can save you up to 10 to 15 percent of energy. So it pays to be more attentive with these things. You can even take it up a notch and update your lightings to LED ones to encourage energy-saving even more and reduce power bills.
Chances are, you’re already paying for internet bills in your business. Get the most out of that and use that to continue networking or meeting clients through free platforms like Zoom.
And with more businesses going online, it has become a must to utilize every digital marketing strategy to improve online presence consequently increase sales. Virtual tours have now become popular in many industries including retail, tourism, real estate, and more. While relatively new in the real estate industry, virtual tours have shown promising results. While needed, digital solutions like virtual reality come at a price. But that price will give you better exposure online as you proceed to share those virtual tours on social media. It also means customers can continue to visit you virtually and check out the latest about your business. As a result, you stay current, relevant, and convenient which ups your popularity and maintains sales, at least in this pandemic, and increase it when the situation settles down.