The great thing about these investments is that the return is tangible – you can measure whether the investment is paying itself back (and it will). So building on my last top four investments here are my final four investments (for the moment).
5. Using big data principles in small companies – If you set your CRM reporting up the right way then over time you will be able to scientifically work out what every customer facing activity in your business needs to do activity wise on a daily, weekly and monthly basis to achieve their overall target. This can avoid the big brother one-size-fits all approach that many companies use and most employees hate.
6. Google analytics – Google analytics is free and gives you incredible insights into how your website is performing. For any time period you can identify how many people visit your site, the number of visits to the site, the time spent on the site, the number of pages visited etc. It will tell you where your web traffic comes from, the most popular pages and so much more. Work out what will be useful for you and make the most of it.
7. Remote working – Attracting top talent is the biggest issue for many growing companies. In such a competitive environment, the ability to offer some form of remote working will increase the talent pool you can recruit from as well as making you more attractive to the “core talent market”. With the technology available it is not only relatively simple and affordable to give remote workers access to your systems but it is also possible to measure their performance in terms of the number of calls, system updates etc.
8. A marketer – Marketing expertise (covering branding, social media, events, communications and advertising) will help you compete more efficiently in a crowded marketplace. A full-time or part-time resource will help you build your brand efficiently. Like the internal recruitment manager they will free up your time to run the business. Among other things they should be able to look after investments 2, 5 and 6 for you! You want someone comfortable with analytics, branding, social media and event management but who can also write well.
Depending on what stage your business is at you should be able to make a compelling business case for each of these investments. If you’re struggling to do so then give me a call and I’ll be happy to talk you through it.
Feel free to contact me about MyNonExec service and find out how the 30+ company boards I advise are outperforming their markets.