The Second Half – Tips for Finishing the Year Strong

Summer is a great time, filled with hot summer days and long summer nights.  Yet those of us in the northern hemisphere running online empires might be tempted to chill on a few too many ice creams, Jamba Juices and homemade smoothies.  Summer is a great time to get ready for the second half.  Taking a few steps back to consider what’s been working, what customers and the market wants, and using technology can be the difference between closing more sales, and just doing cruise control for the balance of the year.  Let’s discuss this in more detail.

The Second Half – Tips for Finishing the Year Strong

Understanding What’s Working Now

If you have been marketing online for any time at all, you know that things change quickly, and it is important to monitor your results regularly.  In this case you want to look at a half year to get a better understanding how you can improve results for the second half.  Armed with this information, you have the power to tie that into several areas of your overall plan.  (If you missed it, see the post for Evaluating Marketing Results So Far This Year).

What Do Customers and Your Market Want

As you participated in conferences and trade shows, what have you been hearing from customers that is holding them back or frustrating them?  You may or may not come out with product or strategic ideas, but how can you keep the conversation going around this issue?

What is your market saying about their pains on Twitter, Facebook pages, LinkedIn Groups and other social outlets? Is there a way you could modify your product, or how it is sold to increase revenues in the second half, or put yourself in a better position in the New Year?

Entering the Conversation and Partnering

Also, in reviewing your competitors, what are customers saying about how their product falls short?  Can you enter those discussions with a possible solution that the customer wasn’t aware you could offer?  Are there partnering possibilities that you might be overlooking that could help customers and increase sales for both parties making you look like a hero in the process?

Building On Existing Successes

Are you actively pursuing customer quotes, testimonials, and case studies for posting to your website?  Having a 3rd party share with prospects how your company, product, or service made their life better is compelling.  If you sell products online, find that the post order “Thank you” page is a great place to ask customers why they decided to buy.  If you are already doing that, review recent submissions and update your site with the most compelling quotes (be sure you have permission from the customer).

Make Customers the CEO

Talk to existing customers in your target market and find out from their perspective what is working and what could be better.  As them to advise you on how you can build on existing successes.  If appropriate, invite them to be the CEO for a day, and ask them the top 3 things they would change about your company’s product or service.  There can be gold in their responses, by all means take notes!

Looking Forward

If at all possible, break away for a half day to review all areas of your business, and brainstorm areas that need to be modified. As the saying goes, “The only thing worse than singing out of tune is doing so enthusiastically.”  Giving yourself time to thoroughly evaluate your business is not only smart, but can recharge your batteries for a harmonious second half.

Scaling

Sometimes increasing sales is a matter of scaling.  After evaluating key areas, consider how you might implement more resources for the rest of the year.

Outsourcing can be a great way to complete stagnant projects, or jumpstart future ones.  It may be appropriate to hire someone full time, so your time can be spent on more revenue generating activity.

Technology. Is there a service or software available to make your life easier and more productive?  If you use an auto responder service, how can you be using it to automate more areas of your business (more ideas here). If your are dealing with paper sketches, multiple electronic versions of emails, documents, and mind maps to get stuff done, have you considered the time you are losing with this approach?  Decide now to use a hosted project management tool like 5pmweb.com, activecollab.com, or others suggested here. Online collaboration tools are worth their weight in gold.

Got Questions?

Pausing to consider your business can be really good for business.  Whether it is marketplace conversations, customer input, or creating more leverage through technology, applying this information (even a single area) in your business can make a positive impact.

Was this helpful? Do you do a mid-year review in your business?  Why or why not?  Chime in below.
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