In a perfect world, we would all like to have an infinite budget and resources to spend on marketing for our businesses to increase sales. But let’s be real, while most of us small businesses have plenty of great ideas to promote our brands, attaining affordable resources is yet another story. That is why the recent increase in the instant asset write-off* from $25,000 to $30,000, which went into effect after 2nd April 2019, comes as a major relief for many of us who are trying to invest more on marketing and sales for our business.
*The write-off can be used to claim tax breaks on multiple assets during the same financial year, as long as they’re priced under the threshold.
So, where do you start, now that you have the instant asset write-off to help alleviate some of the expenses?
Well to start, look at your website. When it comes to generating new leads and increasing your sales figures, there’s no better option than investing in your business’s digital presence. With nearly 15 million Australians online daily, small businesses with a strong digital presence have a better chance of promoting their brand and boosting sales figures through the implementation of strategic digital and social media marketing and automation.
A lot of small businesses struggle with their digital activities due to taking a holistic view of their digital activity, this is due to a lack of expertise and knowledge within the business and the right guidance from those that know how. You could easily spend lots of money on social media advertising in the hopes of increasing sales, but if you don’t know what you’re doing, most of that money will go to waste. A strong digital strategy that is designed around your business’s specific needs is vital if you want to succeed online.
Who is your ideal customer?
Before you can win over customers and increase sales, you first have to figure out who your customer is, what value you offer them and what your competition is offering them. Once you work that out, you can get an idea of what you need to change to bring about a better customer experience that will ultimately drive revenue.
Website design speaks louder than 1000 words
Something as simple as your website’s design could be driving potential customers away. Whilst most of us would assume to put as much info as possible on our site to promote the business, digital experts recommend that less is more. When it comes to websites there is a formula for success. These could include an eye-catching homepage banner with a few lines of copy that promotes your brand’s products/services and its benefits to your customers, and a clear call-to-action is more appealing than a torrent of unnecessary information and badly designed artworks.
Automation makes the job easier
Another great investment is automation software that allows business owners to convert time-consuming manual processes to automated systems. And then, of course, there’s the digital advertising. This is definitely an area where most people need assistance with defining their target audience and how to successfully create and set up ads that hit home the message.
Instant asset write-off; where to find help?
If you need a little help getting started, consider seeking professional guidance or look into web solutions to enhance your current site, all of which can be purchased and claimed with the instant asset write off.
NetStripes as the authorised digital specialist for small businesses in NSW, holds several bootcamps throughout the year that offer direction to small businesses on social media and digital strategies, as well as several online learning courses and one-on-one advisory sessions. If you’d like to learn more about these government subsidised services, click here to book your free consultation and speak to our Digital Advisors.
If you want to appeal to more customers and drive sales while still staying within a reasonable budget, digital is the way to go. And figuring out how to do it is a matter of knowing what your customers want, creating the right strategy that accommodates all your requirements, and finding the right people to help you get started. If you have a great website and provide praiseworthy customer services that keep website visitors coming back for more, you can boost your sales within months!
Please speak to your tax accountant for all tax and investment related advice. Information provided above does not constitute advice.
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