No matter how successful your business is, from time-to-time every company experiences a lull and needs some reinvigoration to bring the spark back. In this post, we’ll look at a few ways — from upgrading premises with a property pension fund to reinventing your brand — to inject new life into and reinvigorate your company.
The combination of fast-advancing technology and the rise of SME’s has made the modern business world more competitive than ever. For business owners, this means getting with the times so they stand a chance at succeeding. They also need to recognise what is — and isn’t — benefiting their company, fixing the latter as quickly as possible.
Below you’ll find a few methods that business owners implement to reinvigorate their company’s image, structure, and marketing abilities.
Improve your website
In an era where the internet is the social and professional powerhouse, any business will lose to their competition if they don’t have a website — or if they have a site that isn’t up to scratch. There are many ways to improve a website, but the three main aspects to focus on are design, content, and SEO.
Design: For your site to stand out among the millions of websites online, it’s vital for the design to create an excellent first impression, look professional, and be a visual representation of your brand. Couple this with a need for it to be quick, efficient, and user-friendly — it’s safe to say that implementing a new design could be the breath of fresh air your business needs.
Content: High-quality content — whether it’s your website’s copy or on-site blog posts — gives your brand a voice, allowing you to speak directly to your audience, or in this case, your customers. If you have noticed a distinct lack of engagement or increased bounce rate on certain pages or your site, your current content (or lack of) may be the culprit.
SEO: If you’re someone who spends a fair amount of time online then you’ve come across the term SEO. This stands for ‘Search Engine Optimisation’ and relates to the various methods you can use to improve your ranking on search engines. Implementing good SEO practices, such as the use of keywords and backlinks, are a simple yet effective way to rank higher on Google and increase your chances of finding new customers.
Time for a rebrand?
There are many aspects that help with the popularity, success, and longevity of a business, but today one of the most crucial is a company’s ability to establish themselves as a brand. If you are struggling to engage your target audience or merely want to change how your business presents itself, a rebrand can be a fantastic way to bring something new and exciting to the table.
Before you start, it’s essential to establish precisely what you’re aiming to get out of a rebrand, working closely with designers and/or marketing professionals to come up with a strategy moving forward. While a rebranding with new logos, aesthetics, and website design is an exciting process, it’s important to recognise what your customers like about your company and ensure the core values of your business remain intact. Look for the specific aspects you feel are missing.
A change of scenery
Although many of today’s businesses are online and don’t occupy a physical space, those that do can enjoy a variety of benefits from moving to a new location. For business owners, it’s an opportunity to expand the company, increase the size of your team, and operate on a larger scale. Not only this but providing your employees with a bigger and better workplace environment is an ideal way to boost morale and increase productivity.
Purchasing a new property will be a lot easier for large organisations or businesses without tight budgets, but there are alternative ways to raise funds that might be new to you. One of which is a property pension fund. There are two different types of property pension funds — SIPP and SSAS pensions — but the latter is most useful and suitable for business owners. A SSAS pension is designed for someone who needs a pension to support their company that allows them to transfer their funds between the business and their pension while benefiting from a corporation tax relief.
Rather than attempting to raise funds via a bank loan or any other method, a pension provider can transfer previous financial contributions from your SSAS pension to the company bank account (and back again if necessary).