How Twitter Marketing Will give you A boost in traffic

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Published: 06th August 2012
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Businesses are often striving to minimize costs to maximize profits. Especially in current economic conditions, it is crucial for many small businesses to lower their costs to ensure that their company stays afloat. BusinessVibes has listed some innovative ways that small businesses can employ to optimize operating costs in the long run.

Go Paperless

While small stacks of paper may not seem like a lot of money, the accumulated costs associated with printing, copying, mailing and storing may add up to be between 13 and 30 times the original purchase price of paper. Furthermore, the average office worker in the United States uses approximately 10,000 sheets of paper per day. There are various ways to go paperless. Firstly, switch from paper bills to electronic versions. Most companies today also charge for paper bills. Likewise, you can do the same with your clients. Provide them with online billing as it saves both the cost of paper and postage. The great thing about online billing is that it can be automated - you can set up automated payments to avoid any penalties and clients can also be charged based on their billing cycle. Electronic newsletters can also be emailed out to customers so that printing, binding and mailing are not required. Ink cartridges are usually very expensive and this is a perfect way to save. E-signing solutions such as Adobe Echosign are perfect for going paperless as contracts and other legal documents can be delivered, signed and returned electronically and instantly. So not only do you save paper, you save time too! In order to manage all your virtual documents, online document management systems such as Hyperoffice can be used.

Save Electricity

There are a couple of ways to save electricity to lower your monthly utility bill. Firstly, use laptops instead of desktops as they are more energy efficient. After all, when IT companies manufacture laptops, energy consumption is a critical factor in design as it will determine how long the battery will last. Therefore, laptops are often built with highly efficient LCDs, adapters and CPUs and are approximately 50% more energy efficient than desktops. In areas with frequent power surges, desktops would often require a backup uninterruptible power supply to ensure you do not lose data. Not only is this backup power supply an additional cost but it also consumes a significant amount of energy. Secondly, use energy efficient light bulbs in the office and always turn them off when not in use. You may even install motion sensor lights in areas that are not regularly occupied.

Use the Internet to Communicate

Reduce your phone bill by using VoIP services which allows you to make and receive phone calls via the Internet. This is very cost efficient if you and your employees tend to make frequent phone calls to clients, especially if they are overseas. Save the cost of travelling to meet clients and partners by having online video conferences using various programs such as Skype and WebEx.

Employ interns

When looking for entry level, seasonal or even a general office staff, consider hiring students by working with various colleges and universities that offer co-op programs to students. You could offer students either an unpaid position where they could gain work experience or even if you pay them, it costs much less than hiring an experienced individual.

Exploit social media

Social media has become an increasing trend among consumers and businesses. Facebook and Twitter have more than 500 million and 190 million users, respectively. With such a large number of users on multiple social media platforms, it can be used as a free marketing tool. Launch a social media marketing campaign to foster brand awareness, drive traffic to your website and provide customer service. Through social media, users are able to spread the word about your company and allow you to gain more customers. Posters and video advertisements could also be published on social media platforms. It is far cheaper than paying for advertising space in newspapers, magazines and television, yet it is able to reach a larger number of audience worldwide.

Cross Promotions & Barter

Encourage greater sales of your products and/or services through cross promotions. For example, while advertising a particular product or service, recommend another service or accessory that complements the former. Next, instead of constantly purchasing services and products from other businesses, offer to trade. Companies will mutually benefit from bartering- offer that company your services/products and have them provide you certain services/products that you require in return. In addition, prior to outsourcing or contracting services, request for multiple bids as vendors will tend to compete with one another to offer you the best price, hence allowing you to save.

Start saving today by using these suggestions that BusinessVibes has listed in this post. If you have more creative ideas up your sleeve on how small businesses can optimize operating costs, share it with us on Twitter @bvamericas

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