The days when organizations were more concerned with the façade of their buildings than their websites are coming to a close. Today, businesses large and small need to embrace web-marketing plans and inexpensive cloud-based solutions to optimize their efficiency and improve profitability.
Let’s review some more tips to creating a more profitable (and virtual) operation:
6. Virtual employees and contractors. When you think about profit margins, think in terms of virtual employees and contractors. The more virtual your operation, the greater will be the benefit to your bottom line. Virtual employees can deliver services in a more flexible working environment. (Management of these types of employees and contractors needs to focus on measureable results.)
7. Outsource. Where and when possible, outsource non-critical operations. For example, if you are a smaller business, it’s easier and more cost-effective to host with a well-recognized hosting provider (such as 1and1 or GoDaddy) than to operate your own in-house server. Similarly, it may be less expensive to outsource marketing activities than to staff internally. Before hiring administrative personnel, consider outsourcing with a virtual assistant. (See above.)
8. Web marketing. If you’re thinking about attending a trade show or offering an onsite seminar, reassess your priorities and extend your budget by leveraging web marketing activities. Utilize e-marketing, social-media marketing, web seminars, case studies, blogs, SEO and other digital-marketing efforts as opposed to traditional marketing methods.