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Jade Fitzpatrick

Driving Your Small Business For Success In 2022

SMB Resilience: How Australian Businesses Are Surviving Amid A Global Pandemic

If Australians are good for one thing, it’s for our resilience. Being able to come together to help those who really need it, even when we’re dealing with our own adversities, is something we’re really proud of. Consider the summer of 2019-20 when a large portion of the country was battling devastating bushfires that absolutely destroyed more than 24 million hectares of land, taking with it more than one billion animals and 450 people’s lives. As heartbreaking as these fires were, they showed us how resilient Australia is as a nation, with individuals donating more than $282 million in relief to the victims. Then came the devastation of COVID-19, forcing thousands of Australian SMBs to close their doors either temporarily or for good. Whether those businesses recovered or not, one thing was certain – we had to adapt. Enter 2021.

SMBs Australia: What Happened In 2021?

2021 was a rollercoaster, to say the least. With vaccination numbers on the rise, it looked as though there was a light at the end of the tunnel. Maybe the country could return to business as usual. But just as soon as the nation opened up, it closed again with the introduction of the Delta strain. Once more, businesses were forced to close as this more contagious, more deadly virus strain forced us back inside. Those of us who were lucky enough moved to work from home, carting computer monitors and other equipment from our offices and setting them up at makeshift workstations at home. However, those of us who couldn’t had to wait it out, leaving thousands of businesses reeling with uncertainty, their employees unsure if they even still had jobs. They moved online, using the internet and social media to stay afloat while SMBs (which make up 55% of National GDP) figured out what to do next. We prevailed, though, as we have many times before, showing the world that even when all hope seems lost, Australian businesses remain more resilient than ever. Here’s what the numbers are saying about it.

Looking Ahead: 2021 In Reflection

Now that we’ve made it to 2022, many Australian SMBs have had a chance to reflect on the past year. While businesses closed and more and more people worked from home, SMBs were able to realign their values and work towards the things that really mattered. What they learned, though, might surprise you as a study conducted by LinkedIn revealed some unexpected findings:

  • The majority of Australian SMBs know where to invest for growth
  • More than half feel as though the pandemic has helped the futureproof their businesses
  • Over 60% feel optimistic about the future despite the majority indicating some uncertainty

With lockdowns in full swing and the state government’s closing borders, 71% of Aussie SMBs were, unfortunately, affected by slowdowns. The part that turned some heads, though, was the data surrounding success, whereby a massive 38% of Australian SMBs actually performed better than an average year (Mi3, 2021). Additionally, a further 40% indicated feeling positive about the outcomes of 2021 as they use their setbacks to prepare for an even stronger 2022.

So, What’s Changed?

For Australian SMBs, online presence has become one of the most important tools in staying afloat amid the pandemic. LinkedIn reports a 44% increase in ‘new SMB Company Pages’, all of which are highly active and more engaged. Additionally, global brand ambassador, Taryn Williams believes consumer values have shifted. She says relationships between SMBs and their clientele are more crucial than ever. Williams also believes social media plays a huge role in building relationships with consumers and heading into the thick of 2022, she encourages all SMBs to utilise their online presence. She says SMBs should leverage platforms they wouldn’t ordinarily use, like TikTok, for example, to increase organic reach. Further, Williams states consumers want to support Australian SMBs but are more inclined if a business offers sustainable goods and services and adhere to ethical practices.

As of now, many SMBs are looking to the future, focusing on costs and opportunities for growth. During LinkedIn’s research, they discovered three main areas in which Australian SMBs have been able to optimise resources and lower costs: rent, operations, resourcing.

These statistics indicate that Australian SMBs have shifted their priorities. Now, they’re putting more effort into their customers’ needs and working to make employee tasks more efficient. Finally, businesses can begin to operate as normal (or as normal as the pandemic will allow).

Efficiency: The New Normal

As Australians discovered more flexible working conditions, they also found areas to increase productivity. Global Commercial Services Vice President and General Manager, Stephen Pendergast says there has been a 12.4% spending increase on technology and automation software investments. Investing in such areas not only frees up space to focus on activities that push the bottom line, but they remove the risk of human error. CEO of Headbox Australia, Ali Lord, agrees, saying digital solutions to complete mundane tasks removes the legwork and saves costs. Employees have come to expect this now too, with the experts at Salesforce finding investments in technology make for both happy employees and satisfied customers. The bottom line is: work smarter, not harder.

Where To From Here? Tips For SMBs in 2022

If the above stats indicate anything, Australian SMBs have learned to adapt, even with the future uncertain. With omicron affecting more Australians each day, businesses need to remain flexible, adapting to change where they can. To continue to succeed in 2022, it’s important to be proactive. Take what we’ve learned and transform it into meaningful opportunities for growth. We’ve broken it all down into ten comprehensive steps:

  1. Maximise success by lowering costs where possible
  2. Keep up with employee demand and morale by offering flexible working conditions
  3. Use what you’ve learned to make your business more resilient
  4. Be more open to change
  5. Understand what matters most to your customers and employees
  6. Realign customer expectations through honest, up to date dialogue – the good and the bad
  7. Alleviate pressure on staff and give customers the autonomy to find their own solutions by investing in technology
  8. Support local businesses by using or promoting their products and services where you can
  9. Follow ethical practices to attract more of the consumer market
  10. Stay relevant by regularly using social media to promote your business brand

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The Ultimate EOFY Checklist For Your Small Business

Unless you’ve been living under a rock, you know the end of the financial year is approaching. That means it’s probably time to get your social media marketing in order. But if you really want the end the financial year on a high note, there are some things you’re going to want to do. Below is our ultimate EOFY checklist for small businesses, guaranteed to help you end the financial year with a bang!

Get More Traffic’s Top 10 EOFY Tips

At GMT, we’re helping you get ready for the EOFY. That said, here is a checklist to help make the preparation just that much simpler. 

Review And Coordinate Your Accounts

Do you have any outstanding debts or vice versa? Say you’ve paid for Google Ads in Australia but your account is overdue or maybe you’ve provided a service to someone else who now owes you. Use this period to get on top of what you’ve paid to others and what they’ve paid you. You’ll want to make sure you pay vendors any money owed as well. Sorting all this out means you won’t have to worry about it being taxed next year. 

Keep Records And Back Up Your Data

You’ve heard the term, ‘I’ve got receipts’, and well there’s no hard evidence like proof of purchase. Additionally, we recommend backing up any crucial files or data onto a hard drive independent of your computer. You know, for safe measure. Trust us, if systems fail you’re going to thank yourself for being so proactive. 

Review Your Insurance

While you’re at it, you might as well review your insurance policies for any updates. Doing so will allow you to determine if you’re still on a package that’s right for you and your business. It’s also a great opportunity to update your insurer on any change in circumstance. 

Conduct An Audit

Count and recount your inventory so you know exactly what you have and what you need. Doing so will allow you to match what’s on paper with what’s on hand. 

Use Your Calendar

Planning is key so make a note of all your upcoming due dates, including by when you need to lodge your tax returns. 

Lodge Your Taxes

In Australia, the ATO expects you to lodge your taxes on or before October 31st so we recommend getting ready early. Organise your expenses and other tax deductions so you can have your return ready for submission sooner rather than later.

Rectify Bookkeeping Errors

With the financial year ending, you’ll want a fresh start going into the new year. We recommend going through your bookkeeping and identifying any transaction errors on your bank accounts and credit card statements.

Implement And Update Management Software

Management software makes keeping track of your inventory, finances, and other business assets easy. While we also encourage you to check all of these things manually during this time, implementing and updating your management software will save you time and resources in the long run. 

Prepare Financial Reports

Running financial reports helps point out where your business rests financially. Additionally, they’re fantastic for helping businesses outline and plan their budgeting. There are three financial reports you’re going to want to run this financial year and every subsequent year after. They are:

Balance sheet
Cash flow sheet 
Profit-and-Loss (P&L) statement

Prepare For The New Year

If you’re reading this checklist, you likely want to get on top of everything before the new financial year rolls around. By doing so, you’ll be able to figure out how your company performed over the past year and make an action plan for the future. Take a look at what worked and what didn’t and look for areas in which you can improve. Set goals and establish timelines to help you stay on track. 

Make The Most Out Of Your Social Media Marketing With The Specialists At Get More Traffic

Is your website a highway at peak hour? Because boy, you’ll be getting a lot of traffic with the help of our digital marketing experts. One of the leading digital marketing agencies in Brisbane, we’re passionate about helping businesses all over Australia harness the power of social media marketing to take their bookings to the next level. So, if you’re ready to give traffic to your website the green light and learn more about marketing, contact the team at Get More Traffic today!

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How to Start Planning Your Best Financial Year Ever!

The end of the financial year is fast approaching and many businesses are scrambling to create some last-minute campaigns to increase their revenue.

However, just as important as the end of the financial year, is the beginning of a new one. While it’s always good to finish strong, it’s also important to ‌get a good head start against the competition. This means having a plan already set in place to help you jumpstart and launch your way towards success.

For that reason, we’ve put together a couple of tips on how you can get started planning the new financial year with your team and organisation.

1. Review Your Existing Business and Marketing Plan

The start of a new financial year is always a good time to review your current business and marketing plans in order for you to create a sound strategy moving forward.

As you review your business plan, make sure that it includes the following:

  • Your mission and vision statements
  • What products, packages, and services you’re currently offering
  • Your company structure, including the key staff and leaders
  • An overview of how you plan to make sales
  • A map of your basic customer journey

This quick review of your company’s basics and foundations should help remind and refresh you of the general overview of who you’re serving and what problems your business solves. 

This quick refresher should also help you reexamine and reevaluate your current goals, plans, and offerings and whether you’ve met and accomplished them, and what you’re plans might be moving forward.


2. Review the Past Year and Your Current Status

Before you can set a path for where you want to go, you first have to look back and see how far you’ve come.

Do a review and an executive summary of the past financial year. What goals were established? Which goals were achieved? Are there any areas in your business that you could improve on? This would be the perfect time to get feedback and suggestions from leaders and managers.

Take a day or two to meet with your staff and stakeholders to discuss the following points:

  • A SWOT analysis (strengths, weaknesses, opportunities, and threats)
  • Does your current organisational structure need to change to better suit the organisation’s needs?
  • Are you setting the right KPIs for your workforce?
  • How have sales performed in the past year? What milestones were achieved?
  • Competitor analysis–what areas are they succeeding in and how can you match their growth?
  • Are there any plans set in place for unforeseeable challenges?

It will take some time to gather all this data and information, and much more to discuss them amongst your leaders. But achieving a good and thorough understanding of how your business has performed over the past 12 months will help you ‌move forward with setting the right goals for growth.


3. Decide on Your Future Goals and Targets

Now that you know where you’re coming from, it’s time to set your sights on the path ahead. 

Think about what projects, campaigns, and goals you want to accomplish in the next 12 months. Do you want to further increase revenue or sales? Is your goal to pay off any business debt? Are you looking to expand, launch new products or projects, or pivot in a different direction?

Take ample enough time to flesh out your goals for your business. Be specific. Set deadlines and timeframes so that things continue to move forward, and clearly communicate these goals throughout your organisation.


4. Create a Plan to Bridge that Gap Between Your Current State and Your Future Goals

Now comes the part where you have to work at bridging the gap between hope and reality. After all, every journey begins with a single step.

To achieve that, you need to do the following:

  • Breakdown each of your goals into several milestones.
  • Set deadlines for each milestone
  • Assign a leader or manager to oversee the accomplishment of each goal
  • Lay out the tasks that need to be accomplished in order for those goals to be achieved.
  • Set KPIs for each of the teams involved

When working on a strategic plan, always involve the key stakeholders to help provide proper feedback and guidance on the best path that you can take. The better you’re able to break down the steps necessary to accomplish your goals, the better. Start with the end in mind, and work backwards to determine how you can get from A to B.

In implementing that plan, however, sometimes you need an excellent partner to help you execute and achieve your goals.

Don’t worry! Because with the help of our digital marketing experts here at Get More Traffic, we can help you achieve many of your business goals for the new financial year through proven expert digital marketing strategies.

We’re passionate about helping businesses all over Australia harness the power of digital marketing to take their sales to the next level. If you’re ready to give traffic to your website the green light and learn how to increase sales and engagement through an always-on marketing strategy, contact the team at Get More Traffic today!

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