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22 January 2018

5 Crucial Factors for your Business Development in 2018

Posted By: AIB Business
developing-new-business-strategies-for-2018

Right now, it’s business as usual, with 2018 well and truly underway, Christmas a mere memory and February almost upon us. Your doors are firmly open and goals have been set. Having developed your business plan for 2018, you’ve probably already considered the practical steps you need to take to ensure the year is a lucrative one for your business, but sometimes with your head buried in specific targets, new product plans and market developments, it can be easy to forget some basic principles that still require a place in your strategy. 

We’ve compiled a handy list that will be key to your business’s continued development in 2018.

Communication is Key

It may seem obvious, but good communication is one of those things that is necessary for almost every aspect of your business. It can be the difference between just a workforce and a happy workforce; a one-time customer and a satisfied regular. It’s also how we develop new relationships, which are a key factor in growing our professional base. Sometimes we take it for granted and it can suffer. When this happens, staff can become disillusioned and customers left unimpressed, so it’s crucial your internal and external communication methods are regularly monitored and kept up to standard. You’d be surprised what kind of barriers present themselves when circumstances develop or change, so keep communication channels clear and open.

Up Your Cross-Channel Marketing Game 

With so many channels to reach your customers on, it can be difficult to consistently link up your communications effectively. By neglecting to do this, you may run the risk of your message getting lost amidst a dozen others on one marketing channel. Instead, run your message across a selection of relevant channels (making sure to optimise correctly by channel) so that your customers are more likely to notice you and familiarise themselves with your brand. This could also be a good opportunity to delve deeper into digital and explore this medium further. It’s certainly a place where you’ll find plenty of customers these days.

Remote Working

As technology rapidly advances and the lines between work and life become much more blurred, remote working is a concept that’s taking hold across many different sectors, large and small. Traditionally, we think of ‘office jobs’ as being 9-5, pure and simple. That’s no longer the case. Providing your employees with an option to work remotely will most likely result in stronger productivity levels, greater job satisfaction and, of course, cost savings on your side. Win-win. Life is busier than ever, and with some professionals juggling work, kids and a home, their schedules demand this type of flexibility. It might feel alien to begin with, but your business will feel the benefits of introducing remote working as an option. 

Use Storytelling to Sell Your Brand

The power of marketing cannot be underestimated, and to build on this, the power of storytelling marketing is nothing short of remarkable. Storytelling is how we can emotionally connect with our consumers on a level that goes beyond the practical. You don’t need to pump hundreds of thousands of euros into marketing your brand; you do need to know who you are, what you stand for, what you’re all about, and find a way to communicate this to customers so a lasting impression is made.

Manage Your Stress Levels

If you’re feeling constantly stressed or overwhelmed, your business will suffer – it’s as simple as that. Stress management and a healthy work/life balance are now deemed more important than ever - and for good reason. Practices like ‘mindfulness’ and yoga might just feel like buzz words and short-term trends, but the premise behind them is positive: a calm mind and body is much more productive than a stressed, panicked one.

It can be difficult to make the time, but try and devote even an hour or two a week to whatever it may be that allows you some stress relief and provides you with a sense of calm. It doesn’t have to be yoga; maybe it’s swimming or even a game of soccer with your local team. Whatever it is, your business will thank you for it in the long run.

Need Help with Your Business?

If you need advice on ways to further develop your business in 2018, we can help. Make an appointment to speak to your AIB Business Customer Advisor today. 

 

Please be aware that all of the views expressed in this Blog are purely the personal views of the authors and commentators (including those working for AIB as members of the AIB website team or in any other capacity) and are based on their personal experiences and knowledge at the time of writing.

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Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Copyright Allied Irish Banks, p.l.c. 1995.

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