There’s no denying business can be tough at times. In this article, we’re delving into four of the most common challenges that proprietors share with us and have explored some potential solutions.

Hiring talented staff

This is fundamental to the success of your firm. Get your recruitment strategy spot on and it could bring in a great candidate who will help to grow the business. Get it wrong, and it could cause you a lot of wasted time and energy, not to mention money. So what will make the difference? 

First on the list, an attractive offer. Gone are the days when opportunities were so scarce that candidates would be queuing at your door. Think about what sets you apart from other firms in your market sector. Pay is important, but it’s also good to talk about culture, your business model and any opportunities for training and development too. Drawing up a job description and posting it online shouldn’t be the end of the process.

Consider the fact that the best candidates are more than likely in employment, so you may have to be more proactive. Network, talk to others in your sector or maybe even recruit a specialist agency if needs be.  

You can visit our guide on finding the right employee here.

Lead generation for those with a core business

The lifeblood of any firm is a regular supply of new enquiries. But how do you go about ensuring a steady flow? The inbound marketing model is all about attracting people to your business by offering them content that’s relevant to them. When they get to your website you’ll need something that will grab their attention. 

Of course, you need to get them to your site. Experiment with paid online advertising on social sites, such as Facebook adverts. These enable you to target your message to a specific audience. A personal injury solicitor might target those in employment within a 20 miles radius for a relatively low budget. Whereas an independent financial adviser might aim to target high income individuals within a certain network to maximise its reach. 

Once they land on your site, think about what they might want to download in exchange for their details so that you can build an ongoing relationship. Videos have a particularly high engagement rate. Also, don’t be afraid to re-approach some of your list - just because someone wasn’t ready to interact with your business when they first visited your site, doesn’t mean they won’t respond to another advert at a different time. 

If you’ve not seen it already, we’ve published a handy article on online marketing that could serve you well. 

Also, just as a reminder, this lead generation information is for your core business. Lead generation for the YBS brand is managed internally. 

Spreading brand awareness

Marketing studies have shown that a consumer needs to see a company’s name or logo at least seven times before recognition becomes automatic. Sadly, it’s unlikely you’re going to get a new client from just once piece of communication. You might also be wondering how you can possibly compete with larger firms and their equally massive marketing budgets. 

Sally the solicitor is never going to be able to compete with a massive 200 employee legal practice, for example. Nonetheless, there are definitely things you can do to create a buzz around your brand. Be active on social media, such as Twitter and Facebook, representing your core business. Blog regularly, share your opinion and aim to become an authority in your chosen area. Q and A magazines are great for this. Don’t forget you can also use your existing clients to get your name out there through high quality merchandise such as notebooks, pens or even umbrellas.

Stay on the cutting edge

There’s no doubt it can seem overwhelming trying to keep up to date with all the latest technology. However, there are some great systems available to help you run your business as efficiently as possible. Take a step back and look at your processes. Would a new phone system let you work more flexibly and help you deliver a better service? Would a Customer Relationship Management (CRM) system help you to keep track of your clients more effectively? Don’t be afraid to ask for demos or a free trial. Be clear about what you need the technology to do for you. Is it right for your size of business and your budget? Check out what sort of support is on offer by searching online or looking in trade publications, magazines or journals. 

Yorkshire Building Society has worked together with growth marketing agency, ClientsFirst, to supply this content. We hope it helps you grow your core business and you have found it of interest. Please ensure that if you apply any of these tips to your YBS agency that you comply with the specific marketing guidelines which can be found in the YBS ‘Working Together’ Agency Operations Manual.

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