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Spending money to make money. It’s the oldest balancing act known to entrepreneurs. It’s the art of knowing where to cut funding and where to focus more of your budget all in the hope of getting bigger and better returns. Unfortunately, the only real way of knowing what combinations work is through trial and error, carefully looking at which investments pay off best. Or, what you could do, is see the results of other entrepreneurs, and that is exactly what this article focuses on.
Below, we have listed the most effective ways to put more money into your business in order for more to come back.
Spend Clever At Your Next Trade Show
Just like in real estate, location is everything at a trade show and the prime property available is that corner booth. Get it. Yes, it could cost up to $500 more than the spot you usually get but the corners tend to boast a ton of traffic and so it may well turn out to be the best decision you make. It’s not just about more traffic, though, it is also about more marketing space to accommodate the two aisles of traffic.
IT’s The Only Support Team You Need
The world has gone online and mobile, which is why you need to spend more on these areas of your business. By using the services of someone like ProviDyn, you won’t just boost the productivity of your office, you will be able to enhance so many other areas of your business, from your flexibility to your mobile abilities to your security, all of which will pay you back big time.
Time To Pay The Pied Piper
This, for those who don’t know, means PR firms. You may work in an industry that doesn’t require this level of exposure, but for a lot of businesses with products and/or services a PR could change the game drastically. We’re talking magazine placements, inclusion in big blogs and maybe even television segments. Of course, this is no guarantee. It all depends on your product and the PR firm you hire, so have your procurement strategy in place first.
Content Will Always Be King
Your branding (read: identity) is one of the most crucial parts of your business. Of course, it is made up of lots of different elements, but the most important of them all is your content. This is the voice of your business, and the voice is what people connect with most, which is why you need to make sure your content is creative, unique and engaging. If you can’t do this yourself, then hire an experienced creative copywriter no matter what the expense. Look at brands like Critically Endangered Socks and Oatly if you want some inspiration.
Pretty In Packaging
Your packaging is what will make your product stand out on the shelves, standout online and stand out when people scroll down the social media newsfeeds. It is also a secret weapon that can be used to great avail. Make your branded bags the biggest when you attend a trade show and people will use them to put everything else. That means more exposure, which is worth the cost. Make your packaging pretty, like Apple did, and you’ll find your customers add this to the pictures they post online.