Back to Blog

Tuesday, 20th December 2022 | Marketing

Marketing ideas for your business in the new year

As the end of the year approaches, it’s time to revisit your marketing strategy to meet current consumer expectations. Forecasting trends is tricky, but what’s clear is that in 2023, customers value privacy, inclusivity, transparency, and overall authenticity, and it’s your job to show them how your business practices meet these ideals. Read on for six steps you take right now to market your business in 2023.

As the end of the year approaches, it’s time to revisit your marketing strategy to meet current consumer expectations. Forecasting trends is tricky, but what’s clear is that in 2023, customers value privacy, inclusivity, transparency, and overall authenticity, and it’s your job to show them how your business practices meet these ideals. Read on for six steps you take right now to market your business in 2023.

Understand your changing audience

The first thing you need to do is revisit your market. Review your sales and marketing data to make sure you have a realistic grasp on the size, demographics, and character of your target market. Pay close attention to any changes in your ideal customer and use this updated intel to seek out new opportunities. For example, if your business has grown or taken a new direction in recent years, it might be attracting a new audience. Make sure you’re communicating with the most appropriate market segment.

Update your website

Your website is one of your most valuable marketing assets so it’s crucial that it be in good shape. Review your site to make sure all the content is correct and up-to-date. Check to make sure that it loads quickly and displays correctly across desktop, tablet, and mobile platforms. You probably look at your site regularly so consider getting someone with “fresh eyes” to take a look. Ensure that your site works intuitively and offers a seamless customer experience. A site that’s pleasant to use will help you convert new visitors and retain returning ones.

Maximize the potential of social media

With more than 4.7 billion people using social media, your business cannot afford to ignore it. If you’re just starting out on social platforms, now is the time to claim your presence. Set up accounts for your business on top platforms like Instagram, Facebook, and TikTok. Investigate which sites your ideal customers might be using and ensure you’re on them too. Post relevant content, regularly, and make sure that you keep your profiles fresh and current. Try running contests or promotions to boost engagement, and take advantage of the built-in shopping capabilities available on many platforms. You can communicate a lot about your brand values by aligning yourself with other local small businesses through collaborations or sponsorships.

Leverage video content and live streaming

Video content has been a rising trend for the past several years, and is well-suited to businesses who want to increase awareness, improve lead generation and sales, and reduce support calls. Consider how video content might work for your business, keeping in mind that consumers appreciate being entertained. Live streaming is popular and an effective way to connect with your audience in real time. Engage your audience with quality storytelling. Inform them with a clear and concise script. Be creative.

Get interactive with your audience

When was the last time you did an online quiz or game? How about worked with an online calculator or map? Interactive content is engaging, which is why audiences–and marketers–love it. It’s low-cost and can help you increase brand loyalty, generate leads, and drive sales. Think about ways your business can use interactive content to grab your customers’ attention.

Respect consumer privacy

More than ever, consumers are concerned about privacy. Demonstrate respect for your customers’ privacy by compliance with standards like GDPR, by properly acquiring and using user data, and by continually informing your customers of exactly how you’re handling their information.

If you want to stay ahead of your competitors in 2023, now is the time to fine-tune your marketing efforts to communicate your business’ authentic brand and values. Take an inclusive, transparent, privacy-first approach, to reach your target audience.

5 Cost-Effective Strategies to Scale Your Canadian Small Business

Congratulations! You've built a thriving small business. But with success comes the exciting (and sometimes daunting) question: Is it time to grow? This guide explores the signs your business is ready for expansion and offers 5 cost-effective strategies to achieve it, all while keeping your finances in check.

Why Grow Your Business?

The definition of success varies greatly between businesses. Some prioritize revenue, while others focus on community impact. Regardless of your goals, a thriving small business is a strong indicator of potential for growth. Here are some key reasons to consider scaling your operations:

Demand: Are you struggling to meet increasing customer demand for your products or services? Expanding your capacity through additional staff or inventory can help.
Profit: Healthy profits allow you to reinvest in growth initiatives. Analyze your current profit margins to determine if expansion is financially viable.
Longevity: Many businesses strive for long-term success. Consider how growth will impact your business's sustainability and future potential.

Is Your Canadian Business Ready to Expand?

Here are some key factors to consider before taking the leap:

Growing Team: A growing team suggests your business is handling an increased workload. Hiring additional staff is a clear sign you're ready to handle more.
Unable to Meet Demand: Are you turning away customers due to limited capacity? If so, this indicates a need for expansion to capitalize on existing demand.
Abundant Cash and Financial Stability: While increased revenue is a positive sign, it's not the only factor. Analyze your overall financial health to ensure expansion won't strain your resources.
Meeting or Exceeding Business Goals: Surpassing your existing goals demonstrates a successful business model. Scaling your operations can help you achieve even greater success.
Too Much Space or Resources: Are you finding yourself with unused space or underutilized resources? This could be a sign you're ready to expand your product offerings or customer base.
Intuition: Sometimes, your gut feeling is the best indicator. Trust your instincts alongside the data if you feel strongly about scaling your business.

5 Cost-Effective Strategies to Grow Your Canadian Business

Growth doesn't have to break the bank. Here are 10 ways to achieve sustainable business expansion without overspending:

Start with a Growth Business Plan: Don't jump in blindly. Create a roadmap outlining your specific growth goals and strategies. Revisit your original business plan and adapt it to reflect your new ambitions.
Do Your Research: Educate yourself on Canadian industry trends and competitor strategies. Talk to other entrepreneurs who have successfully scaled their businesses. By gathering information, you can avoid costly mistakes and make informed decisions.
Nurture Your Existing Customers: Loyal customers are your most valuable asset. Prioritize excellent customer service and implement strategies to retain their business.
Leverage Social Media: Build a strong social media presence to connect with potential customers organically. Utilize free social media tools to create engaging content and interact with your audience.
Automate Tasks: Free up valuable time and resources by automating repetitive tasks. Explore cost-effective automation tools that streamline processes like scheduling, payroll, and data management.

Focus on What Matters Most: Growing Your Business

Running a Canadian small business requires dedication on many fronts. When it comes to growth, securing the right financing can be a major hurdle. At iCapital, we help you overcome this hurdle and free you to focus on what matters most: Growing your business.

iCapital: Fast Funding for Canadian Businesses

Get approved in 24 hours and fuel your growth with iCapital's streamlined financing solutions. Choose from flexible options like Term Loans, Recurring Term Loans, and Secured Business Loans – all with transparent fees. Apply online in minutes and get started today.

Small business financing Canada

iCapital Helping SMBs Weather Cash Flow Challenges

Unplugging for Success: How Small Business Owners Can Take a Well-Deserved Vacation

In the whirlwind of running a small business, taking a vacation might seem like a distant dream. However, it's precisely when you're in charge that you must prioritize your well-being and rejuvenate yourself. Planning a vacation isn't just about booking flights and accommodation; it's about ensuring your business can thrive in your absence and that you can return rejuvenated and ready to tackle new challenges. Let's delve into how small business owners can successfully unplug and enjoy a well-deserved break.

Planning for Success

Start by considering the best time of year for your getaway—ideally when projects are wrapping up, and sales are steady but not overwhelming. Tie up loose ends before you leave, pay bills in advance and update clients and suppliers about your absence. Provide them with contact information for someone who can assist them while you’re away.

Empowering Your Team

If you have a team, view your vacation as an opportunity for them to shine. Begin preparing them well in advance, gradually delegating more responsibilities as your departure date approaches. Offer detailed instructions for complex tasks and discuss potential scenarios they may encounter in your absence. This empowers your team and fosters a culture of trust and accountability within your business.

For entrepreneurs or sole proprietors without a team, automation can be a game-changer in maintaining business operations during your absence. Embrace the power of AI and automation tools to streamline processes and keep your business running smoothly. Consider utilizing answering services to handle customer inquiries and appointment bookings, allowing you to step away without compromising customer service. Automate bookkeeping and computer processes wherever possible, striking a balance between maintaining service levels and ensuring your business retains its personal touch.

Unplugging for True Relaxation

Strive to minimize contact with clients and staff while you’re away, allowing yourself a true break. Schedule occasional check-ins if necessary, but limit them to specific times and stick to the plan. Communicate with your staff about how they can reach you in case of emergencies, but otherwise, resist the urge to constantly check-in.

Returning Refreshed and Rejuvenated

Upon your return, keep your schedule clear for the first few days to catch up on missed tasks. Make a list of items requiring immediate attention to help you ease back into work seamlessly. Remember, taking a break allows your body to recharge, leading to increased productivity upon your return.

Embracing the Benefits of Vacation

If you’re still hesitant to take a vacation, consider the benefits it offers. Time away from work allows your mind and body to recharge, leading to increased productivity and creativity upon your return. Even short breaks can profoundly impact your overall well-being and business success.

Prioritizing self-care isn't just a luxury; it's a necessity for sustainable business growth. By planning strategically, empowering your team, and embracing the benefits of unplugging, you can enjoy a well-deserved vacation while ensuring your business continues to thrive in your absence. So book that trip and savour the opportunity to unwind and recharge. Your business—and your future self—will thank you for it.

Management

Springing Forward: Essential Marketing Tips for Small Businesses

As the world awakens from the slumber of winter, small businesses have an opportunity to tap into the vibrant energy of spring and breathe new life into their marketing strategies. Just as nature undergoes a transformation, so too can your marketing strategies. Spring presents a golden opportunity for you to refresh your approach and connect with your customers in meaningful ways. Here are six essential marketing tips tailored specifically for small businesses like yours as we transition into the season of growth:

Host Engaging Events:

Springtime calls for outdoor gatherings and community events that bring people together. From street fairs to garden parties, consider hosting events that showcase your brand and provide value to attendees. These events offer a unique opportunity for you to connect with your customers on a personal level, fostering relationships and building brand loyalty.

Refresh Your Branding:

Just as the world outside undergoes a transformation, consider giving your branding a fresh update. Infuse your website, social media profiles, and marketing materials with imagery and messaging that captures the spirit of the season. Whether it's incorporating vibrant colours or using nature-inspired themes, refreshing your branding can captivate your audience and make your brand stand out.

Offer Springtime Promotions:

Take advantage of the season to offer enticing promotions and discounts that resonate with your audience. Whether it's a spring sale, a limited-time offer, or a special promotion tied to seasonal activities, create a sense of urgency to encourage customers to take action. By aligning your promotions with the themes of spring, you can drive sales and attract new customers to your business.

Connect with Your Community:

Spring is a time for renewal and connection, making it the perfect opportunity for you to engage with your local community. Partner with other businesses or organizations to co-host events, sponsor local initiatives, or participate in community clean-up efforts. Demonstrating your commitment to your community can build goodwill and strengthen your brand's reputation.

Embrace Seasonal Content:

Spring offers a wealth of opportunities to create content that resonates with your audience. From tips for spring cleaning to ideas for outdoor activities, leverage the season to provide value to your customers through your blog, social media, and email newsletters. By sharing timely and relevant content, you can strengthen your relationship with your audience and position your brand as a trusted resource.

Track and Measure Results:

As you implement your spring marketing initiatives, be sure to track and measure their effectiveness. Use analytics tools to monitor key metrics such as website traffic, social media engagement, and sales performance. By analyzing the data, you can gain valuable insights into what's working and what's not, allowing you to refine your strategy and optimize your efforts for maximum impact.

Spring gives your small business an invaluable chance to revitalize your marketing endeavours and forge deeper connections with your customers. By integrating these essential marketing tips into your strategy, you can harness the vibrant energy of the season and position your business for growth and success in the months ahead. So let's seize the spirit of spring and spring forward together towards a bright and prosperous future for your business.

Marketing