8 Cost-Effective Trends Every Small Business Owner Should Know

The biggest challenge small business owners face is a limited budget. They want to avail themselves of all services and opportunities within a set limit. This is the reason they always look for the most cost-effective options available to them.
Here are eight trends that are cost-effective and save both time and money. Adopting these low-cost options is suitable for you as well as your business.

1) Low-Cost Resume Parser. A resume parser helps to extract resume information, saving it in data fields in your ATS/CRM. Such a tool can not only fit into your budget but can also be used by a layman. Choose a parser that comes with no coding requirement, which means that there is no need to hire technical staff to use this software.

2) Low-Cost Paid Social Ads. Convey your message to your targeted audience with ads that fit into your budget. Create a message and try A/B testing as it is an excellent way to determine which message is more effective. With this testing, you can easily create a marketing strategy to attract customers. Thus, choose to opt for paid social ads which does not include much investment.

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3) Accelerated Mobile Pages. Have you heard of AMP before? It is another popular way of getting more business with very less investment. These pages are faster and get a higher ranking on Google. Simply set up AMP pages by installing a plugin. This will give a boost to search rankings which will increase the traffic and customers.

4) Quick Messaging. Instant messaging is a fantastic tool which facilitates interactions between the company and its customers. Customers want a quick reply to their queries. Unlike lengthy phone calls, messaging is a time-saver for small businesses. Chats are a rising trend, and phone calls are taking a backseat. You can even use texting to communicate with candidates. Send them a confirmation message when you receive their application, schedule an interview and notify if they are selected for a job.

5) Referrals. Another popular trend is getting references. It is an old marketing strategy which is still popular among small business owners. We also call it networking. Getting references from your contacts/network will surely make your business grow. Expand your network by attending your industry-related events.

6) Data is King. Almost every company is using data. Know the business areas which deliver the best results. Say you want to speed up your recruitment process. Data gives you insights about the average hiring time, best source from where candidates apply, etc. This gives you a platform to take the right hiring decision.

7) Hire through Social Media. Candidates prefer to apply for jobs through social media. These channels can engage candidates perfectly. LinkedIn is one such platform that candidates join to grow their professional network as well as look for an excellent career opportunity. Post your jobs on popular social networks and get maximum response from candidates.

8) Go Mobile. Keep your website optimized for mobile. Your customers want to know about you on the go. As mobile is the easiest medium to get any information anytime, make sure that you are exploring this platform as much as you can.

If you have just started your business, remember to keep these trends in mind. Starting a business demands a lot of attention, planning and proper execution of plans. If you have proper guidelines to follow, your business is all set to become successful. Be it hiring, managing business operations or acquiring clients, following up the best practices in the industry will make it easy to achieve the goal.

Imrinder Singh

Imrinder Singh
Imrinder works with CandidateZip, a leading resume parsing tool provider which helps in speeding up your recruitment process. An MBA in marketing, he has over six years of work experience in business development and strategic sales.

Imrinder Singh

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One Response to “8 Cost-Effective Trends Every Small Business Owner Should Know”

  1. Questy says:

    Thanks for sharing. Already implemented AMP and chatbot. Will try to do networking for referrals.

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