Are you aware that your startup is failing? What measures can you take to stop the failure? Knowing that your business is gradually going down is an awful feeling. There are signs of a company going down, so when you experience those, do all you can to stop failure from happening. Business transformation often fails for little reason. Businesses should accept a change due to the pandemic.
Forcing them to work by adapting patterns employees are unfamiliar with is difficult. Employees seldom accept such changes and do all they can to keep their old habits intact. They also create a fuss about working under unfavorable conditions. Other factors also come when companies opt to work differently from what they have been doing before.
Incomplete Implementation
A business can only succeed if the change happens correctly. If not, the worst might happen, and the organization may suffer. Managers must keep the workforce under check. They do that one way or another, but implementing the new culture among employees cannot be instigated anywhere. Managers are responsible for familiarizing employees with change. They must inform them about the consequences of improper implementation of the change.
Remember that transformation starts from the top and goes all the way down. This trickle-down effect is what allows companies to implement a change properly. Proper implementation takes time and resources and can bring positive results and enhanced productivity. Failure to meet the desired outcome meant the effort turned futile, and the transformation went unnoticed.
Inability to Identify the Talent
Managers have many responsibilities to fulfill. Not being able to meet the desired level of performance puts a manager under scrutiny. The upper tier can mark a cross against this manager for now. Therefore, knowing their team up close is what managers must excel in. They ought to understand what their team members are all about. They must be familiar with the strengths and weaknesses of every team member so they know who needs help and who understands everything well. In short, managers are responsible for understanding and identifying the talents of each of their team members. Leading an average team means the manager will reap mediocre results more often. A mediocre team does not happen because the manager is not working hard. On the contrary, he leads a team that is not pushing its limits and coming out of its comfort zone.
Lack of Momentum
Transformation requires momentum. A lack of momentum can turn things around slowly. Losing momentum can be pivotal to the conversion. A change anticipated to take six months will become redundant. Momentum and speed are two critical aspects of implementing change. Transformation takes place once the transition is complete. One can say that transformation is the outcome of a successful change. Losing momentum halfway is as good as losing the opportunity to implement the change.
Lack of Consensus
Consensus is necessary for a business to succeed. Lack of it can inflict more damage on the organization in the long run. Employees accept the change. Managers stand firm and put effort into creating harmony among employees. How will you know if a change will become successful or not? Will you build a consensus among your team about accepting the change and having a good relationship with things? This approach might not work as it lacks consensus among employees. Not surprisingly, higher-ups must also agree if they want to ensure the successful implementation of the transformation process. Those who disagree may hinder the approach to the extent that the change might not happen.
Doing It on My Own
It is a team that transforms successfully; lack of harmony results in failure. If one employee stands out as a top performer but does not fit well in the new ecosystem, the transformation may not occur properly. The wolf mentality may not work as transformation is a team effort that requires every team member to stand for the initiative.
What Can You Do About It?
The role of the manager is inevitable in a successful transformation. Managers serve as bridges between higher-ups and lower-tier employees. Their effort may prove pivotal for the business in the long run. They hold the key to the successful implementation of transformation.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Google, Bing, Facebook, Twitter, and Instagram seem not to explore other digital marketing alternatives today. It’s a shame because including other platforms, such as Pinterest, in your digital marketing strategy can offer you the same, or even more, features and advantages than the most popular ones.
Pinterest is an open book with millions of ideas that inspire users about various topics to give you an idea. These topics range from decoration and kitchen remodeling to gardening and fashion.
As with other social networks, being on Pinterest requires carefully studying your target audience’s characteristics, confirming their use, and guiding actions to impact them. The main objectives are achieving popularity, increasing web traffic, and increasing sales.
But is it possible to achieve them? Is it okay to invest time and resources on Pinterest? We are sure it is! We argue our position with these seven compelling reasons. When finished, surely you too will convince yourself of the effectiveness of being and being active on Pinterest.
The Figures Are Not Deceiving
We’ve come up with all the Pinterest usage data to convince you. Thus, there will be no doubt about the suitability of including Pinterest in your strategy.
As of May 2019, there were 291 million active users on Pinterest.
There are already more than 75 million pins or ideas on the platform.
Every month, there are 2 billion searches on Pinterest.
The lifespan of the pins is much longer, on average, than posts on other social networks. If they are valuable and attractive, your plugs can be repainted for weeks or even months.
97% of the results of these searches do not have a brand behind them.
More than 10,000 brands promote their business on Pinterest.
30% of users have bought something online after searching for it on Pinterest.
All this can help you understand Pinterest’s impact on your business results.
However, it would help if you did not think it was easy. To successfully use Pinterest, you must design and implement strategies and actions specially designed for your brand.
Information is Categorized and Better Organized
The possibility of keeping all your pins organized in boards that remain fixed is one of the keys that contribute to extending the life of your publications. Over time and with practice, you will discover what types of boards are the most successful among your Pinterest audience. To give you an idea, these are the different options:
Collaborative: The community highly values these types of boards. They are characterized by allowing many users to edit at the same time. They are ideal if you want to be involved and bring the brand closer to your target audience.
Map: These boards recommend brands belonging to the tourism sector, and their configuration is completed thanks to Foursquare. The idea is to be able to publish geolocated pins.
Inbound traffic: Consists of publishing images from your website on different boards.
External traffic: In this case, the board’s pins will redirect the user to an external site.
Improve the SEO Positioning of Your Website
Both pins and boards on Pinterest need to be named strategically. Thus, we will contribute to our website’s better positioning if we want to link it to the content. Some examples of names are “garden decoration” or “trips to Paris.” Putting a suggestive name on your boards will allow them to be more easily found by users. And, of course, it will optimize the positioning of your brand.
Ensured Traffic and Engagement
It’s as simple as including a link to every valuable post you make on Pinterest. If you like the image, you will get clicks. And, if you get more visits, your website sales will tend to grow. Remember that everything is part of a process that must be perfectly designed and meshed.
Among other techniques, we recommend the efficient use and optimization of keywords. Detect which works best and include them without hesitation on your boards and related pins.
But, if there is something that makes Pinterest unique, it is the simplicity of its interface. Its use becomes, for many users, addictive. Spending hours browsing, exploring, and repinning its contents is possible.
Is Your Audience Millennial?
The average age of active Pinterest users is between 18 and 29 years old. Therefore, do not hesitate to be present if your target audience (or part of it) is millennials. As a bonus, 80% of Pinterest traffic comes from mobile devices.
The Power of Visuals
Like Instagram, the images are the center of everything on Pinterest. Your content may go viral if you hit the mark with inspiring and engaging pins.
Also, organizing all your visual content on boards (an option that Instagram has replicated, in a way, with the highlighted stories) multiplies its visual impact.
Intuitive Analytics Included
The analytics dashboard that Pinterest offers to all brand managers has many benefits. The first one, undoubtedly, is that it is tremendously easy to use. With this internal and free tool (which you can complement with other more advanced ones), you will be able to know even the last detail of your audience:
Demographic data, such as age, gender, or country of residence.
What kind of content do you like the most?
Their primary interests are beyond your activity.
What kind of devices have they used in their search?
You will also obtain, with Pinterest Analytics, information about the activity related to your website. You can filter the organic and sponsored results—which is essential to determine if your advertising strategies on Pinterest are effective.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
As the saying goes, “With great power comes great responsibility,” so it is understandable that business leaders have a lot of responsibility on their shoulders.
In honest self-appraisal, how many people have you worked with who would say you bring out the worst or the best in them? Often, it is not difficult to name the person(s) who brought out your best; at times, it is even easier to call out who has brought out the worst. All these memories are noteworthy because of how your managers made you feel. Unfortunately, most people leave companies or are willing to shift workplaces because of poor relationships with their managers.
This leads to the debate of whether an organization requires a leader or manager. Most people do not understand the differences, as explored below.
Define Success
Any business owner’s primary objective behind running a business is growth. When you ask them to define growth, they will explain it the same way, but each answer will be justified in its own way.
Some might say profitability is growth, while others will tell you that a simple revenue increase is growing. You will find people who tell you that an increased market share means change, and you will also find those who say a lower fixed cost per unit is growth. Each business owner will point to an increase in some factor to indicate change, but there will be a new definition for every new entrepreneur you ask.
How do you go about determining the meaning of growth, then? How can you measure the success of a business? What is it that you need to do to grow your business? And most importantly, does a manager or leader help a business grow? You first need to define success for your business and need both a manager and a leader to reach your goals.
Lead with Emotional Intelligence
Your emotions are woven into your interactions with others, whether at work or home. Your feelings will influence how you react to opportunities and challenges, determine if you collaborate to resolve conflict, and prompt your willingness to forgive yourself and others. As you move further with your day, your emotions play a role in the effort you demonstrate, your moods, and your psychological health.
As the leader of an organization with subordinates, it is essential to understand what role emotional intelligence plays in their lives. Emotional Intelligence (EI) can be defined as your capacity to be aware of, express emotions, and control them. EI allows us to handle interpersonal relationships empathetically and judiciously.
The four main key components of Emotional Intelligence are:
Self-Management
Self-Awareness
Relationship Management
Social Awareness
A leader who has higher emotional intelligence is more effective because they can build stronger relationships with others. This enables such a leader to empower and encourage team members to perform optimally. From a managerial-only perspective, you would focus on completing the task without considering these four factors.
As a leader, the need to strengthen relationships remains the same or increases because relationships enhance your company’s collaboration, culture, and engagement levels.
Great Leaders Improve their Organizations
When we talk about the workplace, the bottom line is critical. Executives and managers are usually held responsible for success and failure. According to Dr. Joseph Folkman and Dr. Jack Zenger, there are nine essential traits that successful leaders possess. Some of those traits are:
Working to inspire and motivate people around them.
Building relationships and communicating that every organization member is valued and their opinions and concerns are essential and will be investigated.
They “walk the talk” and act with honesty and integrity with each member.
Leaders develop and support what others have to say.
They celebrate the success of their employees and encourage them to learn more.
Goals
When you are in a position of authority and management, your subordinates can often feel intimated. If you are more than just a manager, you would want your team to share ideas and encourage them to work harder. At the same time, a manager cares about numbers, which is necessary but not penultimate.
You must strive to inspire, lead, and allow people to make mistakes.
The chief difference between a leader and a manager is that a leader has people who follow him, while a manager has people who work for him. If you wish to become a successful business owner, you must be both but careful not to confuse yourself. You must equally be a strong leader who aligns team goals and interactions with business objectives and a manager who pushes production and standards toward the vision of success.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
For most entrepreneurs, bringing their business idea into existence and beginning with their businesses is daunting. In many cases, entrepreneurs usually have a very compelling business idea and plan, but they have a minimal budget. From incubation to existence and dividing their business into different sectors like marketing, finance, sales, etc., they tend to carry all that burden on their own. While this isn’t awful, if you originate from a business foundation, you will not have complete knowledge and a holistic perspective on maintaining an effective business.
The Role of a Business Coach
The primary purpose of hiring a business coach is to identify the strengths and opportunities you and your business can play with and the market in which you think to operate. Also, remember the weaknesses and threats to your company and avoid them as much as possible. Coaches differ by how they convey their administrative techniques, yet as a rule, they utilize a mix of conversing with you, posing inquiries, and giving direction alongside all possible agendas. Business coaches don’t work on these aspects of your business; they are more a counselor who provides insight into the market and will advise you to play your cards right.
Here are a few ways in which a business coach can help your business grow
Of course, if you think you have enough knowledge about the dynamics of the market you are looking to operate in, you should go for self-coaching. Or, in other cases, if you are slightly unsure of your abilities, you can always have second opinions. But business coaches are professionals known to provide you with only the best views. Besides, there are some proper reasons to hire a business coach, especially during the initial few stages of their business.
Bird’s eye view – an outsider will always provide you with a bird’s eye view of your business, which will help you find the problem, if your business has any, and help you eradicate it.
Trust and confidence – Losing your faith in the home business is challenging. A mentor can assist you with seeing and expanding on your qualities and lift your spirit in yourself and your business.
The problem of only one perspective – The biggest problem of not getting a business coach for your business, especially during its earlier stage, is the involvement of only one view. A business owner solely running their business on their own will work their way through the industry based only on their ideas. The approach can hold them back and not allow the company to unleash its true potential. A business coach is, therefore, necessary.
Expansion beyond the horizons – Most entrepreneurs can do and develop more than they might suspect. A business coach can assist you with seeing the master plan and setting more significant objectives.
Escape from a problem – Are you in a business trench? A coach can assist you with making sense of where you’re trapped, get you going, and push ahead once more.
Assistance in setting priorities – A business coach can develop a disciplined and balanced game plan for your business to help you sort out all the hurdles and prioritize your goals and other tasks. Of course, doing everything independently can be difficult at times, and entrepreneurs might get overworked by the burden of performing every task alone.
The solution to the accountability issue is that individuals have a simpler time relaxing while another person helps them with some of their work. A coach will anticipate making a move on what you have planned and calling you on it if you don’t end up completing it.
There is a ray of hope for all entrepreneurs. Many business coaches perform business coaching for many businesses and make lives easier for many business owners. However, if you want to get your hands on someone highly professional and experienced, you might have to search a lot. Not everyone these days is as skillful as you expect them to be.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Most industries have had to reinvent their business strategies to continue functioning today in a pandemic-stricken world. Covid-19 has drastically changed how the world operates, adversely affecting all spheres of life, including the global economy. The manufacturing niche has also been impacted. The digital transformation of businesses is inevitable in these trying times, with employee safety being a priority.
Setting this premise for the blog was imperative as the pandemic will heavily affect the future trends dominating the manufacturing industry. Let’s shed light upon some of those trends that will ensure improved operations and success in the long haul.
Prioritization of Employee Safety
Before 2020, employee safety was probably a healthcare regulation practiced at organizations. Law is crucial and will undoubtedly be a dominant trend in the manufacturing industry in 2021. Despite the advent of advanced technology and significant inventions, you cannot overlook the basic workplace rules regarding employee safety.
First things first- an employee’s health and safety are paramount, and big corporations must ensure that all staff members observe safety protocols. The office should be clean, equipment must be well-maintained, and everyone should maintain social distancing.
IoT still reigns
The manufacturing industry’s Internet of Things (IoT) trend is gradually becoming a standard and widespread technology. It is likely to stay at the top in the coming years due to its flexibility and innovation 2021 saw the emergence of IoT. It essentially works because it successfully links various gadgets within an internet infrastructure. IoT allows manufacturers to make better decisions, utilize real-time information, accomplish several business goals, enhance efficiency, reduce expenses, and ensure safety and product novelty.
IoT provides exciting and fresh opportunities to various manufacturers, paving the way for interlinked operations and making business procedures relatively seamless.
3D Printing Takes Manufacturing to Newer Heights of Success
Manufacturers can quickly produce better quality and accurate components even with a handful of resources. Ever wondered how? They are afforded this luxury by 3D printing and additive equipment, which boosts the business’s overall performance. Manufacturing companies can print anything they want, from tiny jet engines to domestic devices, simply by putting in materials layer by layer utilizing digital data based on a 3D model.
The essential advantage of this trend is that it saves a lot of time for manufacturers with other areas to focus on. It is also cost-effective as the location can pose a problem for many, resulting in many casting parts and having it built outside their headquarters’ countries. Of course, this is time-consuming, increases costs, and shows poor quality control.
Going green in manufacturing
It wouldn’t be an understatement to assert that the manufacturing industry is a rather demanding sector- it has been since industrialization took place centuries ago. Currently, it signifies 54% of the planet’s energy consumption. It contributes 20% to global emissions, again detrimental to the environment.
Emissions are why people who are a part of this field decided that it is feasible to go green. Many manufacturers are changing their ways, repurposing resources (as they are limited), and switching to renewable energy for power operations. They are actively reducing waste by tracking every step undertaken in the manufacturing process.
Pilot Plants Remove Risk from Large-Scale Manufacturing
A pilot plant exhibits the viability of prospective process technologies for real-world operations. Manufacturing, of course, facilitates manufacturers in eliminating the risk from various projects. De-risking has served as a driving force and probably the critical purpose of a pilot plant. With shorter product lifespans, the drive has never been fiercer in today’s world.
In a nutshell, pilot plants represent how manufacturers can make process technologies at a more modest industrial scale before the full-scale project starts. This is what essentially makes the manufacturing procedure easier.
Coming to an end now
As businesses head into another year, the manufacturing industry will focus on smoothly executing operations. Considering that we still reside in a world where the pandemic isn’t over and the economy is still recovering, the manufacturing industries must follow these trends.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Cash Flow Management: Your Step-by-Step Guide to Success
Cash flow management step by step involves systematically monitoring, analyzing, and optimizing the movement of money into and out of your business to maintain liquidity and support growth. This comprehensive guide breaks down the essential processes of forecasting, receivables acceleration, strategic expense control, and reserve building that form the foundation of financial stability.
I’ve spent over two decades guiding businesses through financial challenges at Complete Controller, and one truth stands firm: 82% of small businesses fail due to poor cash flow management, according to U.S. Bank research. The right cash flow system isn’t just a financial tool—it’s your business’s lifeline. Through this guide, I’ll share practical strategies that have helped countless entrepreneurs transform their financial trajectory, from setting up accurate forecasting systems to implementing proven receivables acceleration techniques that can cut payment cycles by up to 45%.
What is cash flow management, and how do you implement it step by step?
Cash flow management is the process of tracking, analyzing, and optimizing money moving into and out of your business to maintain liquidity and support operational needs
Start with creating a detailed 12-month cash flow forecast that shows expected inflows and outflows
Implement strategies to accelerate receivables while strategically timing your payables
Use automation tools to maintain real-time visibility into your financialposition
Establish cash reserves of 3-6 months to buffer against unexpectedshortfalls
Understanding Cash Flow Fundamentals
Cash flow represents the net amount of cash moving in and out of your business during a specific period. Unlike profit, which exists on paper, cash flow determines whether you can actually pay your bills, make payroll, and invest in growth opportunities.
Every business operates with three types of cash flow:
Operating cash flow: Money generated from your core business activities
Investing cash flow: Cash used for or generated from investments
Financing cash flow: Money moving between your business and investors/lenders
The key to successful management lies in understanding the timing differences between when you earn revenue and when you actually receive payment, as well as when you incur expenses versus when you pay them. This timing gap creates what we call the “cash conversion cycle“—a critical concept in cash flow forecasting tools for small businesses.
Mastering Cash Flow Forecasting: A Step-By-Step Guide
Understanding cash inflows and outflows
The foundation of any cash flow management system begins with identifying and categorizing your money movements. Start by separating your revenue sources (sales, investments, loans) from your expenses (payroll, inventory, debt payments).
Create a detailed map that includes:
Regular income sources and their typical payment timelines
This visibility allows you to identify patterns and predict potential cash crunches before they occur.
Using historical data for accurate projections
Historical performance provides the most reliable foundation for future projections. Pull financial data from the last 6-12 months to establish baseline predictions:
Monthly Average Sales: $85,000
Monthly Average Expenses:
Payroll: $27,500
Inventory: $18,200
Marketing: $7,800
Overhead: $12,300
Average Net Cash Flow: $19,200
When examining this data, look for:
Seasonal fluctuations in revenue or expenses
Monthly variation in payment timing from key customers
Regular cash deficits that require attention
Growth or contractiontrends that might continue
This analysis helps identify the difference between one-time anomalies and recurring patterns that need addressing in your cash management strategy.
Real-time tools for dynamic forecasting
Modern cash flow management requires technology that provides real-time visibility into your financial position. Implement software that offers:
Feature
Benefit
Bank feed integration
Eliminates manual data entry and reduces errors
Scenario planning
Tests multiple “what-if” financial scenarios
Receivables tracking
Highlights late payments needing follow-up
Dashboard reporting
Provides at-a-glance financial status views
Mobile accessibility
Allows monitoring from anywhere
Tools like QuickBooks, Xero, and specialized platforms such as Cash Flow Frog automatically sync with your financial accounts, providing up-to-date insights into your position without manual reconciliation.
10 Proven Cash Flow Management Strategies for Small Businesses
Accelerate receivables
Reducing the time between delivering services and receiving payment provides immediate cash flow improvements:
Send invoices immediately upon service completion rather than batching
Offer multiple payment methods (credit card, ACH, mobile payment)
Implement automated follow-up systems for overdue invoices
Consider offering 2-3% discounts for early payment
Require deposits on large orders or projects
A client of mine implemented automated invoicing with same-day deliveryand cut their average payment time from 45 days to just 28—a 38% improvement that transformed their cash position.
Optimize payables timing
Strategic management of outgoing payments preserves cash without harming vendor relationships:
Negotiate longer payment terms with suppliers (net-30 to net-60)
Schedule payments to align with your cash inflow timing
Take advantage of early payment discounts when cash reserves allow
Establish clear payment priorities for when cash is tight
Consider vendor financing for large purchases
The key is maintaining transparency with vendors—communicate proactively if you need flexibility rather than simply paying late.
Control inventory smartly
Excess inventory ties up valuable cash that could be used elsewhere:
Implement just-in-time ordering to minimize stock levels
Analyze inventory turnover rates to identify slow-moving items
Negotiate consignment arrangements with suppliers when possible
Use ABC analysis to focus on high-value/high-turnover items
Consider dropshipping for certain product lines
For manufacturers and retailers, even a 10% reduction in inventory can free up significant cash for operations or growth initiatives.
Audit all subscriptions and recurring charges quarterly
Implement approval processes for purchases above certain thresholds
Explore lower-cost alternatives for non-critical services
Consider leasing vs. buying forequipment and vehicles
Reduce travel and entertainment expenses during tight periods
These adjustments should be strategic rather than reactive—cutting marketing that drives revenue, for instance, often creates bigger problems than it solves.
Leverage surplus cash
When you achieve positive cash flow, put those funds to work:
Create a tiered cash reserve system (operating, emergency, opportunity)
Establish high-yield savings accounts for short-term funds
Consider short-term investments for medium-term reserves
Pay down high-interest debt to reduce future cash outflows
Invest in productivity tools that provide clear ROI
Smart deployment of excess cash transforms temporary surpluses into permanent financial advantages.
Diversify revenue streams
Reliance on a single income source creates cash flow vulnerability:
Develop complementary products or services
Explore recurring revenue models like subscriptions
Target different customer segments or industries
Consider geographical expansion
Add passive income channels when possible
Diversification not only stabilizes cash flow but often reveals unexpected growth opportunities.
Negotiate better terms
Proactive relationship management often yields favorable terms:
Request volume discounts from suppliers
Seek seasonal payment arrangements for cyclical businesses
Explore vendor financing for major purchases
Negotiate rent reductions or deferral during slow periods
Ask for graduated payment schedules on large contracts
Many vendors prefer flexible arrangements with reliable customers over rigid terms that might drive customers away.
Optimize pricing strategy
Pricing directly impacts both revenue and cash timing:
Analyze contribution margins across products/services
Consider subscription or retainer models to smooth cash flow
Test premium pricing tiers with added value components
Implement minimum order values to improve efficiency
Require advance deposits for custom work
Even small pricing adjustments (5-10%) can dramatically improve cash position when applied strategically.
Leverage technology automation
Automation reduces manual effort while improving accuracy:
Set up automatic payment reminders for customers
Use recurring billing for regular services
Implement expense management systems with approval workflows
Automate inventory reordering based on preset thresholds
Deploy forecasting tools that update in real-time
Technology investments typically pay for themselves through improved cash collection and reduced manual processing time.
Monitor key performance indicators
Regular measurement keeps cash management on track:
Days Sales Outstanding (DSO)
Inventory turnover ratio
Operating cash flow ratio
Cash conversion cycle
Burn rate during growth phases
Weekly review of these metrics allows for quick course correction before small issues become major problems.
Achieving Financial Stability: How to Build a Cash Reserve
Establishing emergency funds
The foundation of financial stability is maintaining adequate cash reserves. According to OnDeck research, 74% of small businesses have enough cash to cover 1+ months of expenses, but only 12% meet the recommended 6-month reserve threshold.
Building your reserve requires systematic planning:
Start with a one-month operating expense target
Allocate a fixed percentage of monthly profit to reserves
Create separate accounts to prevent “borrowing” from reserves
Establish clear guidelines for when reserves can be accessed
Gradually increase your target to reach 3-6 months of coverage
For service businesses with lower overhead, aim for the higher end of the range.For asset-heavy businesses, focus on liquidity ratio improvements alongside absolute dollar reserves.
Regularly replenishing reserves
Reserve building isn’t a one-time activity but an ongoing discipline requiring:
Quarterly reassessment of reserve targets based on current expenses
Automatic transfers to reserve accounts after major receivables
Immediate replenishment plans after any reserve usage
Strategic investment of longer-term reservesin appropriate vehicles
Regular stress testing of “what-if” scenarios
This approach to budgeting for cash flow management transforms reserves from a financial safety net into a strategic asset that enables confident decision-making.
Case Study: Turning Cash Flow Challenges into Growth Opportunities
One of our manufacturing clients faced severe cash flow constraints during recent supply chain disruptions. With materials costs rising 35% and lead times extending from 2 weeks to 3 months, their traditional just-in-time inventory approach became unsustainable.
We implemented a comprehensive cash flow overhaul:
Revamped Pricing Structure: Added material cost adjustment clauses to all contracts
Restructured Payment Terms: Required 40% deposits on all orders
Established Supplier Partnerships: Negotiated consignment arrangements for key materials
Optimized Production Scheduling: Prioritized high-margin, lower-material products
Implemented Dynamic Forecasting: Created weekly cash projections with multiple scenarios
The results transformed their business:
Cash reserves increased from 30 days to 90 days within 6 months
Production delays decreased by 65%
Profit margins actually improved by 8% despite materials cost increases
The company secured three major customers from competitors who couldn’t deliver reliably
This experience demonstrates how proactive cash management becomes a competitive advantage during challenging market conditions.
Leveraging Technology: Best Cash Flow Management Tools
Evaluating software for your business size
The right cash flow management tools depend on your businesscomplexity and needs:
Clear definition of your cash management processes
Staff training on both tools and underlying concepts
Phased rollout starting with core functions
Regular review and refinement of automated rules
Integration with strategic planning processes
The historical perspective is fascinating—ancient Mesopotamian traders used clay tablets to track crop yields as a precursor to modern forecasting.Today’s cash flow analysis and forecasting tools leverage artificial intelligence to predict future scenarios with remarkable accuracy.
Final Thoughts: Building a Cash Flow Positive Culture
Effective cash flow management extends beyond techniques and tools—it requires building an organizational culture where everyone understands how their decisions impact cash position.
In my experience leading Complete Controller, I’ve seen that businesses with the strongest cash positions share these characteristics:
Leadership that regularly communicates cash flow priorities
Department managers who understand the cash implications of their decisions
Team members incentivized for behaviors that improve cash metrics
Transparent reporting that makes cash position visible to key stakeholders
Celebration of cash flow wins alongside revenue achievements
Cash flow management step by step is not just a financial exercise but a strategic approach that creates freedom and flexibility for your business.By implementing these practices consistently, you transform cash from a constraint into a catalyst for confident decision-making and sustainable growth.
Ready to transform your business’s financial foundation? Contact our team at Complete Controller to discover how these cash flow management strategies can be customized for your specific needs and industry challenges. Let us help you build the financial systems that power sustainable growth.
FAQ
What are the most common cash flow problems for small businesses?
The most common issues include delayed customer payments, overextended credit terms, excess inventory, unexpected expenses, seasonal fluctuations, and rapid growth without adequate working capital. Each of these challenges can be mitigated through proactive forecasting, accelerated receivables processes, and strategic reserve building.
How often should I update my cash flow forecast?
Small businesses should update their cash flow forecasts weekly for the next 90 days and monthly for the remainder of the year. During volatile periods or rapid growth phases, consider more frequent updates—even daily tracking for the coming 30 days to ensure you can respond quickly to changing conditions.
What’s the difference between cash flow and profit?
Profit represents revenue minus expenses on paper, while cash flow tracks the actual money moving in and out of your business at specific times. A business can be profitable on paper but still face cash shortages if revenue is tied up in accounts receivable or inventory. Conversely, a business might have positive cash flow from financing activities even while operating at a loss.
What cash flow metrics should I monitor regularly?
The most important metrics include Days Sales Outstanding (how quickly customers pay), Operating Cash Flow Ratio (ability to cover current liabilities), Cash Conversion Cycle (time between paying suppliers and receiving customer payments), Free Cash Flow (cash generated after operational and capital expenditures), and Burn Rate (how quickly you’re using available cash during growth phases).
How can I improve cash flow immediately during a crisis?
For immediate cash flow improvement, focus on accelerating receivables through follow-up calls to customers with outstanding invoices, offering payment plans or early payment discounts, delaying non-essential purchases, negotiating extended terms with suppliers, converting unused assets to cash, reducing inventory levels, and exploring short-term financing options like invoice factoring or lines of credit. These beginner’s guide to cash flow management techniques can provide quick relief while you implement longer-term solutions.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
It’s a new year. It’s time to find what truly matters to you. It’s time to set goals and start something new that excites you. It’s time to quit your tedious job, draining every ounce of your energy from the body.
Do you wish to embark on a new journey? It’s time to start a new business. After all, it’s 2021, and we know how terrifying 2020 became for us. The world felt like it was coming to a disastrous end. People’s lives took a 180° turn.
Since it’s a new year, why not try to make it a little better? Initiate with a new business plan and a strategy to market your skills and earn cash.
If you have ever met a business owner, you must have seen how competent they are, always striving for something new. They know how to cash their skills and gather the best team to work with. Due to their passion, hard work, and aspiration to rise, their business flourishes.
Just like that, you can also start your own business in 2021. Suppose you are confused about where to start and what kind of business you should run; don’t worry. We have penned down a few business ideas listed by the experts. Please go through them and see where your interest lies.
Choose something exciting, trendy, yet unique. You know you are good at and have the skills to accelerate the idea further into a long-term business venture.
Idea #1 – Virtual Influencers
Virtual influencers can earn millions. They aren’t exactly people. Instead, they are computer-generated fictional personalities who have natural characteristics. Their character and features are the same as humans. Virtual influencers are now taking over the world, having millions of followers, with many people adoring them. They are making money by taking the initiative in brand campaigns. So, if you have the technical knowledge, you can enter this business in 2021.
Idea #2 – The Feeling Economy
Another idea for your business in 2021 is the feeling economy. If you see yourself having these qualities:
Emotional intelligence
Empathy and compassion
Interpersonal skills
Then this business idea is perfect for you. Many agencies offer volunteering opportunities, seeking personal assistants who can help by posting on social media or sending gifts to loved ones. Mental health support companies also provide options for volunteers. You can initiate your business if you have these skills and can help people feel better about themselves and their lives. Combining modern technology with a team of people who have empathy can lead the company to a new level. Try this business and have fun becoming a millionaire!
Idea #3 – e-Scooters and Electric Bikes
Have thoughts like a bus or a train going off the track crossed your mind when traveling? What will happen to you? Who hasn’t felt that right? When you don’t have to let such negative thoughts fester in your mind. Unfortunately, nothing comforts our minds, right? I don’t know about you, but mine hasn’t been in such situations.
So, to reduce this risk, electric bikes and scooters have been invented. People are driving these on roads now. They are easy to handle and operate. You can pick it up and take it to your office or coffee shop, wherever you like.
Since it’s been so in demand, many business owners have taken advantage of this demand and launched their businesses. So, what are you waiting for? An inspiration? It will come sooner or later, but at least start to think about this business in 2021. You have many opportunities in this department, including electric bike accessories, conversion, or e-scooter rental.
Idea #4 – Animal Care and Training
Are you a pet lover? Or do you have pets in your house? If you do, you must be good at caring for and training them. Well, it’s an opportunity to do business. Surprised? It’s good because many people aren’t familiar with this business opportunity.
Many people adopt pets in the hope that they will bring happiness. Some people must bring pets home because their kids throw tantrums in the animal shop. Regardless of why one adopts a pet in the first place, people soon realize how hectic it is to take care of the animal and train them. So, when they buy a pet, they don’t know what kind of trouble they are getting into, but isn’t it good? Just because they are going through so much trouble, you get this opportunity to run this business.
You can run this business smoothly by taking care of your pets. According to many business owners, this business will soon bloom; cross your fingers and set out for a fun yet exciting entrepreneurial journey.
These four business ideas can prove to be a potential side hustle. If you wish your business to generate a good profit, ensure you map out everything. A business strategy is essential for running a business. Choose your idea and get started with a company today!
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Maximize E-Commerce Success With Digital Marketing Strategies
Digital marketing in e-commerce is the disciplined use of channels like SEO, paid ads, email, social media, and personalization to drive qualified traffic to your online store, convert visitors into customers, and maximize lifetime value with data-driven optimization. When you treat digital marketing as an integrated e-commerce growth system—not a set of disconnected tactics—you improve visibility, reduce acquisition costs, and create a predictable engine for revenue and profit.
As a founder who has helped thousands of small and midsize businesses get control of their numbers, I’ve seen the same pattern: stores that win online don’t “do more marketing”—they build a focused digital marketing system tied tightly to margins, cash flow, and capacity. Over 20 years as CEO of Complete Controller, I’ve had the privilege of working with businesses across all sectors and have pretty much seen it all when it comes to SME business strategy and bookkeeping and accounting services. In this article, I’ll walk you through the exact strategies I recommend when I’m looking at an e-commerce P&L and asked, “Where should we invest next to move the needle?” You’ll learn how to build a three-stage marketing model, implement high-ROI channels like email marketing (which delivers $36 for every $1 spent), and create systems that turn one-time buyers into loyal customers.
What is digital marketing in e-commerce—and how do you use it to grow profitably?
Digital marketing in e-commerce is a data-driven system for attracting, converting, and retaining customers through online channels like search, social, email, and marketplaces—each aligned to profitable growth.
Traffic generation comes first, using SEO, content, paid ads, social, and marketplaces built around your ideal customer and search behavior.
On-site conversion turns visits into revenue, optimizing UX, product pages, offers, and trust signals to reduce abandoned carts.
Retention and loyalty drive compounding growth, with email, SMS, personalization, subscriptions, and rewards that increase purchase frequency and average order value.
Ongoing optimization keeps performance accountable, relying on analytics, attribution, and testing to measure ROI—not just clicks or impressions.
Foundations: What “Good” Digital Marketing in E-Commerce Looks Like in 2025
The modern e-commerce marketing blueprint centers on a three-stage model: generate traffic, convert traffic, and build loyalty for repeat purchases. In 2025, with global e-commerce sales reaching $6.86 trillion and 2.77 billion online shoppers worldwide, your marketing must be multi-channel by default. This means combining SEO, PPC, social, email, marketplaces, and onsite marketing to avoid dependence on a single source while staying customer-centric and data-driven through first-party data, behavior analytics, and testing.
Core components of a high-performing e-commerce marketing system include:
E-commerce SEO and content to capture active demand
Paid acquisition (search, social, shopping ads) for controlled scalability
Lifecycle email/SMS to nurture, convert, and retain
Onsite optimization (UX, CRO, personalization)
Loyalty, reviews, and referral programs to fuel word-of-mouth
As a founder, I look at unit economics before channels—margin, CAC, LTV, and cash conversion cycle. Tracking and hygiene come next: pixels, UTM structure, and revenue attribution by channel. Then I identify quick wins like optimizing high-intent pages, abandoned cart flows, and focusing on your top 10% customers.
High-Intent Traffic: SEO and Content-Driven Digital Marketing in E-Commerce
E-commerce SEO puts you where buyers are already searching. Your keyword strategy should focus on product, category, and problem-intent searches. On-page SEO for product and category pages needs optimized titles, meta descriptions, schema markup, reviews, and FAQs. Technical SEO requirements include crawlability, site speed, mobile UX, and Core Web Vitals compliance.
Content marketing for e-commerce goes beyond product descriptions. Educational content like how-tos, buying guides, and comparisons answer research-stage queries. Create search and social synergy by repurposing content into short-form video, email, and ads. Build authority through digital PR, guest posts, and linkable assets to earn backlinks.
Case study: Email + segmentation driving e-commerce growth
Linz Shop partnered with Klaviyo to implement segmented email marketing with personalized flows. The results were dramatic: a 65% increase in web traffic and significantly higher engagement rates. This proves that targeted lifecycle campaigns can dramatically amplify organic and paid efforts.
The takeaway is clear: SEO and content perform best when paired with segmented email that recaptures and nurtures the traffic you earn. Email marketing generates an average return of $36 for every $1 spent—a 3,600% ROI that makes it the highest-performing digital marketing channel.
Paid Media & Marketplaces: Scaling Digital Marketing in E-Commerce Without Destroying Margins
Paid search and shopping ads capture bottom-of-funnel demand quickly. Google Shopping and search ads require a strategic approach to keyword and bidding strategy, including branded versus non-branded keywords, smart bidding, and negative keywords. Landing page alignment is critical for message match and conversion lift.
Paid social, influencers, and creator partnerships offer additional scale. Run prospecting versus retargeting campaigns across Meta, TikTok, and other platforms. Micro-influencers and user-generated content boost trust and conversions at lower cost than mega-influencers. Implement a creative testing framework for hooks, angles, offers, and formats.
When considering marketplaces like Amazon or Etsy, timing matters. Add marketplaces to your channel mix when you have proven products and operational capacity. Maintain pricing discipline, careful inventory planning, and brand control. Track attribution realities including halo effects on your direct-to-consumer site.
Onsite Experience: Turning Clicks into Customers (and Reducing Waste)
Conversion rate optimization for e-commerce starts with frictionless UX: navigation clarity, search functionality, filters, fast load times, and mobile-first design. Desktop conversion rates average 3.9%, while mobile converts at only 1.8%—improving mobile experience can significantly boost revenue. Every 100 milliseconds of improved page load speed increases conversion rates by approximately 1%.
Your offer architecture should include bundles, upsells, cross-sells, and free shipping thresholds. Build trust through reviews, guarantees, clear returns, and security badges.
Cart abandonment affects 70.2% of all e-commerce transactions, but recovery is highly achievable. Optimize checkout with guest options, digital wallet payments, buy-now-pay-later options, and minimal form fields. Implement cart abandonment triggers including exit intent popups, browse abandonment emails, and cart recovery SMS. Abandoned cart recovery emails achieve 41.2% open rates and 50% conversion rates among openers, with recovered orders averaging 58% higher value than standard purchases.
AI-driven personalization transforms the onsite experience. Amazon generates 35% of its total revenue—roughly $70 billion annually—from its recommendation engine. While smaller stores won’t match that percentage, capturing even 5-10% of revenue from “frequently bought together” suggestions meaningfully improves profitability.
Lifecycle Marketing: Email, SMS, and Loyalty That Compound ROI
Email marketing forms the backbone of digital marketing in e-commerce. List-building starts with lead magnets, welcome offers, and post-purchase opt-ins. Core flows include welcome sequences, abandoned cart recovery, post-purchase series, win-back campaigns, and VIP programs. Segment by lifecycle stage, interests, and value using RFM (recency, frequency, monetary) models. Automated email flows generate 320% more revenue than non-automated emails.
SMS campaigns and flows complement rather than cannibalize email efforts. Push notifications and app messaging work for brands with strong mobile presence. True omnichannel marketing coordinates email, SMS, social, and onsite messaging for consistent experiences.
Rewards programs using points, tiers, and perks increase purchase frequency and average order value. Referral mechanics should feel native and aligned with your brand. Community-building through social groups, UGC campaigns, and customer advocacy creates lasting connections beyond transactions.
Data, AI, and Profitability: Running E-Commerce Marketing Like a CFO
Essential dashboards track revenue by channel, blended customer acquisition cost, lifetime value by cohort, and payback period. Attribution models vary between blended reporting and last-click—use each where appropriate. Testing frameworks including A/B tests and incrementality studies validate strategy shifts.
AI transforms e-commerce marketing through product recommendations, dynamic pricing, predictive analytics, and AI chatbots. Marketing automation handles triggered email/SMS, retargeting, and lead scoring. Maintain guardrails with privacy-friendly data strategies, consent management, and compliance protocols.
I evaluate marketing spend through a profitability lens using a channel scorecard that tracks ROAS versus marketing efficiency ratio, gross margin after ad spend, and inventory impact. Budget rebalancing happens monthly and quarterly for decisions on scaling, pausing, or testing new channels. Cash flow-aware growth aligns marketing pushes with fulfillment capacity and working capital availability.
Your 90-Day Roadmap to Implement Digital Marketing in E-Commerce
Phase 1 (Days 1–30): Fix the foundations
Set up tracking including analytics, pixels, conversions, and UTM standards. Make quick UX fixes on mobile, checkout, and top traffic pages. Launch or tighten basic email flows: welcome series, abandoned cart recovery, and post-purchase sequences.
Phase 2 (Days 31–60): Build reliable acquisition
Start SEO projects with keyword mapping for key categories and improved product pages. Test one primary paid channel like Google Shopping or Meta with strict budgets. Implement simple onsite personalization and targeted campaigns.
Phase 3 (Days 61–90): Optimize and scale what works
Double down on top-performing channels and creatives while cutting clear underperformers. Add loyalty and referral programs while expanding lifecycle automations. Formalize a monthly review rhythm with marketing and finance teams to track profitability metrics.
Final Thoughts: Align Your Marketing Engine With Your Numbers
Digital marketing in e-commerce works best when it’s designed as a single, profit-focused system: attract the right visitors, convert them efficiently, and keep them coming back with smart retention and personalization. From my vantage point as a founder, the brands that win are not those using the most tools—they’re the ones that know exactly how each channel contributes to margin, cash flow, and long-term enterprise value.
If you want support building a marketing engine that your books can actually support—and that your books clearly explain—my team and I at Complete Controller can help you connect the dots between campaigns, cash, and clarity. Visit Complete Controller to learn more about how our experts can help you maximize your e-commerce success with strategic financial guidance.
Frequently Asked Questions About Digital Marketing in E-Commerce
What is digital marketing in e-commerce?
Digital marketing in e-commerce is the use of online channels—like search, social media, email, paid ads, and marketplaces—to drive traffic to an online store, convert visitors into customers, and grow revenue profitably.
Which digital marketing strategy is best for e-commerce?
The most effective e-commerce strategies combine SEO, paid ads, email/SMS, social media, and onsite optimization into a coordinated, data-driven plan rather than relying on a single tactic.
How does digital marketing impact e-commerce success?
Digital marketing increases visibility, lowers customer acquisition costs, improves conversion rates, and drives repeat purchases through personalization and lifecycle campaigns, all of which directly impact revenue and profitability.
What are the key trends in e-commerce digital marketing for 2025?
Key trends include AI-powered personalization, hyper-targeted automation, omnichannel experiences, mobile-first design, creator and UGC-driven campaigns, and privacy-friendly data strategies.
How can a small e-commerce business get started with digital marketing?
Start by optimizing your website for SEO and conversions, implementing basic email flows, testing one primary paid channel with strict budgets, and tracking all campaigns against clear financial metrics like CAC and LTV.
Admetrics. “E-commerce Trends 2025: A Comprehensive Overview.” Admetrics Blog, 2025.[5]
Ironistic. “E-commerce and Retail Digital Marketing Strategies for 2025.” Ironistic Insights, 2025.[16]
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
Brands play a significant role in the lives of their customers. From providing goods and services to achieving top-of-the-mind recall, brands must be sure their audience knows they are reliable. Brands have a communal and exchange relationship with their customers, establishing if the customer will come back, talk about the brand, or have a one-time experience. Either way, businesses should select a two-way communication route to benefit both parties.
What people most want is for someone to listen to them. This experience may be why people will still return to you to make a purchase when you mess up an order but are willing to accept the mistake and put the customer’s query first. This attitude may come up, just as with interpersonal relationships; if you show people you care about and value them, they will return the gesture by being your brand’s advocate, and brands can use positive word of mouth in their favor.
Defining a Brand-Customer Relationship
Brands willing to have successful, positive relationships with their clients must first understand and visualize the journey and touchpoints the consumers will go through and form a basic framework. Putting themselves in the customers’ shoes will help them identify consumer needs, and once they have their foot in the door, bingo! They have earned their way to the customer’s trust.
From this point on, all brand teams must keep pushing with consistent quality and customer service. In no time, they will become the brand of choice to one consumer and other people who hear and talk about the brand from one person. Word of mouth is a powerful marketing tool brands have in their toolshed to use wisely to get to where they want with their customers.
Furthermore, once your customer trusts you, the second part of your journey begins: brand loyalty. Often, brands underestimate the power of brand loyalty. If your product is of superior quality and your services are consistent, you can assure your audience will stick with you. However, suppose any of the two aspects mentioned above go off balance.
In that case, brands should fear losing not just one but a whole group of customers because of negative brand advocacy.
Brand Relationship Management
When brands make consumers experience enhancement in their core competency, they have nothing to fear. “Customer is King” is a mantra that brands should not only believe but also preach. A customer-centric approach will put you ahead of your competition, giving you a competitive edge that is hard to crack. Think about Coca-Cola as a brand. Because of its consistency of quality and consumer-based advertisement approach, it has an established name in the market that even Pepsi often comes in second.
Once you have set the user experience as a priority for your brand, putting the team accordingly is the next step you must focus on. Working in the service sector takes a lot of understanding, patience, and commitment; hence, you must put in time and effort to build a team ready to represent you in the way you want. Often, brands outsource service efforts to agencies that do not share the brand vision or mission, resulting in a loss of customers and a reduced audience base.
You can invest heavily in data collection programs, audience determination tools, and even the best sales team. Still, if audience insight results are not scaled appropriately, you will eventually make negative returns even on your expectations. Creating a strong operations team, training the correct people, and delivering consistently on consumer needs are critical to establishing the brand in a customer’s eyes. It is important to remember that the culture you create with your brand and its people will trickle down to the customer who interacts with the brand.
Conclusion
Consumers want a two-way relationship with brands, and sometimes, even they do not know this. For brands to sit well with their audiences, they must ensure the entire customer journey from when they initially encounter the brand to when they buy their product. Audience service must ensure no inconvenience.
Customers will remember their experience with the brand regarding how the sales team treated them at the store, the convenience of online shopping, refund policies on products, and customer treatment throughout their interaction with the brand. Businesses must remember the importance of consistently delivering on the promises they make to their customers. Brand managers must set year-round strategies around the needs of their customers and then create a corporate mission and culture to achieve these goals.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
A start-up’s success depends on the smooth running of all business operations, mainly financial management, as it forms the backbone of all other processes. Poor financial management can disrupt payroll and procurement and put the company in a lag with delayed payments, disrupted credit lines, and increasing interest rates.
To run a business efficiently, you will require data, financial reports, and records, analyzing accurate information about every asset, liability, and debt. In such circumstances, accounting comes in handy. A company must appoint a highly qualified and experienced accountant who can pitch professional advice when required. Having a reliable accountant will keep your business secure.
You can avoid all of this with proper accounting systems. Accounting is a valuable process for maintaining an organization’s financial records. Accounts are an essential aspect of any business. Every company tends to hire highly qualified accountants for this purpose.
Here are some of the most important reasons that make accounting professionals pivotal for the success of start-ups.
Accounting professionals tactically formulate a budget: Accounting professionals are the premium choice for developing a tactically and strategically sound budget. Finance is the only versatile backbone of a business, and you must efficiently control it for the smooth running of a company. Budgeting refers to allocating all the funds and resources available to carry out operations smoothly. Several accounting techniques are available, making determining a budget much more straightforward. Accounting is the concept of maintaining records of every transaction that has already taken place in a company. The act helps the owner to realize its limitations, savings, and requirements.
Efficient & timely management of cash flow: Cash flow management tends to manage the cash by detaining the transfer of debt cash to a debtor by illustrating or encouraging him to return the money as quickly as possible. A company often prepares cash flow returns on a quarterly or annual basis. Cash flow management is a responsibility that an office’s accounts department usually controls. Since cash flow management is an extensive task, it is essential to overcome cash debts. It would be best to record cash flow righteously through various available accounting software that assists in scheduling repay dates of cash flows. Massive investments will drive maximum profits, which ultimately outshine an enterprise.
Cash conservation & abiding by the budget: To run a successful business, an entrepreneur must deal with any situation intellectually and smartly. A company’s reputation is adversely affected in emergencies, including political instability or civil war. Therefore, a company must reserve a reasonable amount to deal with such situations efficiently. While it is not always possible for business owners to deal with cash flow issues, having a proper accounting professional will help the company follow the budget guidelines meticulously while serving to reserve the cash directly.
Timely recording & updating of all financial statements: A proper accounting professional ensures that the cash flow statement, balance sheet, and income statement are all duly updated, always making the company audit-ready. Companies are required to record their financial statements with the registrar. Listed entities must register with a stock exchange for direct and indirect tax purposes. Undoubtedly, accounting plays a significant role in every scenario.
Crucial help in finance-backed decision-making: Accounting helps in a range of decision-making procedures and allows owners to create policies to enhance the efficiency of the business processes. An example of decision-making based on accounting includes the cost of products and services, the resources required to develop these products, services, and business opportunities. Accounting professionals also help make other business strategies by presenting a holistic view of the business standing.
Reduce the risk of liquidity in a business: A genuine reason for the failure of most companies is the mismanagement of cash. Accounting helps determine a company’s liquidity, which refers to the money and other liquid assets you’re dumping to pay off the financial commitments. By placing several checks across the organizations, accounting helps avoid the loss created by mismanagement or obsolescence. The internal controls protect the assets and avoid permanent losses.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
