CPA Blog

6 key IT questions to ask in the new normal

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Published: Monday, 25 January 2021 08:44

Written by Phillip Strickler, CPA.CITP

The sudden shutdown of the economy last year because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some companies fared better than others.

Many businesses that had been taking an informal approach to IT strategy discovered their systems weren’t as robust and scalable as they’d hoped. Some may have lost ground competitively as fires were put out and employees got back up to speed in an altered working environment.

To keep your approach to technology relevant, you’ve got to regularly reassess processes and assets. Doing so is even more important in the new normal. Here are six key questions to ask:

1. What are our users saying? Every successful IT strategy is built on a foundation of plentiful user feedback. Talk with (or survey) your employees about what’s happened over the last few months from a technology perspective. Find out what’s working, what isn’t and why.

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Does your business have a unique selling proposition?

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Published: Monday, 25 January 2021 08:40

Written by Phillip Strickler, CPA.CITP

Many business owners — particularly those who own smaller companies — spend so much time trying to eliminate weaknesses that they never fully capitalize on their strengths. One way to do so is to identify and explicate your unique selling proposition (USP).

Give it some thought

In a nutshell, a USP states why customers should buy your product or service rather than a similar one offered by a competitor. A USP might be rather obvious if you offer a type of state-of-the-art technology or specialize in a certain kind of service that’s not widely available. Many businesses, however, will need to dedicate some serious thought and discussion to identifying their USP — and they may need to do so every year or two to adapt to market changes.

Ask the right questions

Involve employees from every level of your company in brainstorming sessions to develop your USP. During these meetings, consider the answers to questions such as:

• What makes our products or services distinctive?
• What aspect of our business is most important to its growth?
• Which elements of what we do are the most difficult for competitors to copy?
• Why should customers buy from us instead of the competition?

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Getting more for your marketing dollars in 2021

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Published: Monday, 25 January 2021 08:37

Written by Phillip Strickler, CPA.CITP

A new year has arrived and, with it, a fresh 12 months of opportunities to communicate with customers and prospects. Like every year, 2021 brings distinctive marketing trends to the table. The COVID-19 pandemic and resulting economic challenges continue to drive the conversation in most industries. To get more for your marketing dollars, you’ll need to tailor your message to this environment.

Continue to invest in digital

There’s good reason to remind yourself of digital marketing’s continuing value in our brave new world of daily videoconferencing and booming online shopping. It’s affordable and allows you to communicate with customers directly. In addition, it provides faster results and better tracking capabilities.

Consider or re-evaluate strategies such as regularly updating your search engine optimization so your website ranks highly in online searches and more people can find you. Adjust your use of email, text messages and social media to communicate with customers and prospects.

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Fun fact: How much did Americans save in 2020?

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Published: Tuesday, 19 January 2021 17:43

Written by Phillip Strickler, CPA.CITP