Rethink Ineffective Advertising
If you’ve let your marketing budget remain stagnant for a while, it’s time to review whether your efforts are really making a difference and resulting in more leads and more customers for your business. If there a way you could be marketing more cost effectively to your customers? For example, through content marketing and online advertising, rather than adverts in the local newspaper?
Ensure Your Premises is Cost Efficient
Rather than pouring money down the drain on inflated electricity bills and printer ink, set aside some time at the start of the New Year to review your usage. Is printer ink costing you a ridiculous amount of money each month? If so, would bringing in a new environmentally friendly printer policy to encourage employees to print less documents help to reduce costs? You could even consider enforcing an email only system and going completely paperless if it works for your company. It might also pay to switch to LED bulbs to reduce your energy bills, and even considering investing in insulation if you own the premises could save you a lot of money on heating bills in the long run.
Review Your Software Subscriptions
If you’re spending a lot on software solutions that aren’t necessarily right for your business, the New Year brings the perfect opportunity to shop around for a better offering in terms of product quality and price. Most software programmes offer free trials, so consider rolling out a few tests early in the year and logging everyone’s opinions to have banked next time your subscription renewals come around.
When was the last time you shopped around when it comes to your business’s banking? It doesn’t pay to be complacent, and with the industry constantly changing, it’s unwise to stick with the same bank without even considering your options. If you’re an SME, the Money Saving Expert guide to small business banking is a great place to start if you’re looking for guidance. This resource offers a plethora of advice on everything from the best business bank accounts to the top cashback cards, so it’s well worth checking out.