How to Grow Your Business in 2023

Since the start of the COVID-19 pandemic, companies have adapted and innovated according to rapidly changing circumstances and best practices. Now, as 2022 comes to a close, they’re looking to get ahead and improve business strategies and profits in 2023. 

There are several ways you can set your company up for success in the new year. Some are small changes; others are methodologies that affect your business objectives and operations. These strategies require you to reflect on this year to learn what’s working for your brand and what’s not. With an honest evaluation of your current practices and targeted forecasting, you’ll be able to scale your business in 2023.

Upgrade the Unboxing Experience

Improving your packaging and shipping processes yields many benefits. First, they boost brand consistency and generate customer excitement.

Whether you’re using mailers or shippers, you can make your product’s packaging aesthetically pleasing and on-brand. Which would you feel more excited to unwrap: A plain box sealed with shipping tape and decorated solely with return labels or a customized mailer that provides the company’s name, logo, and brand colors? Packages can improve the customer experience by reminding them of why they purchased in the first place. Additionally, unboxing videos remain popular on social media channels like YouTube, so packaging appearances matter when building a brand reputation and gaining new customers. Ideally, the materials and methods you use to ship products to customers will also be sustainable.

Sustainability matters to your customers. Many actively seek out eco-friendly brands, and most will opt for the environmentally-conscious option when debating between two or more brands. By sourcing local, renewable materials, using energy and water efficiently, and offsetting emissions, you can attract more customers while minimizing your carbon footprint. Thankfully, numerous cost-efficient materials and suppliers will help you get your products to customers in a sustainable manner.

When sourcing materials, check for an FSC certification, which guarantees that brands source from responsibly managed forests. Select compostable mailers and use non-toxic ink to reduce waste. Avoid unnecessary plastics and attempt to source and package your products in energy-efficient buildings that produce little to no pollution. 

Keep Up with Industry Trends and Customer Needs

Customers are dealing with record-high inflation and anticipating an economic recession in 2023. In the wake (or the midst) of the COVID-19 pandemic, these hardships have increased customer stress and forced them to re-evaluate their budgets and priorities. This reality is not a death knell for businesses, but it does require adaptation and empathy.

If you want to expand your business in 2023, you have to gauge the current demand for your product and brainstorm ways you can make it more appealing and affordable for customers in the long run. For example, you might implement a new rewards program or upgrade your subscription services to add value to your target audience.

No business is an island. Even if you have a handle on your company’s data, you have to look at big-picture trends in your industry. Customer behavior can change when a new company introduces a product or when the social climate dictates how they should engage with any industry. With ever-changing circumstances and moods, you must scenario plan and solicit customer feedback.

Scenario planning necessitates forecasting. You create multiple strategies for potential scenarios based on former trends and current demands. You prepare yourself for unforeseen challenges that will help you expand and improve your operations. While you can’t fully predict everything that will impact your business in 2023, you can make educated guesses and have solutions ready. 

Embrace the Digital

If companies have learned one thing in the past year, it’s that remote work isn’t going anywhere. Rather than ignore this new normal, you can use it to your advantage. Remote work options give you access to a global talent pool and keep employees happy.

Digital operations also expand your customer pool. Even if you are a retailer with a brick-and-mortar storefront, you can capitalize on the eCommerce boom, optimizing your website and social media platforms to allow virtual transactions. You can also upgrade your devices and software to scale your business and automate tasks, saving you time and money. You don’t have to jump on every tech advancement and trend since it’s expensive and confusing for your team members and customers. However, you must upgrade when your current platforms no longer serve your needs. So long as you make the integration and training process clear, your team should smoothly adopt new tech, and you’ll have access to real-time data analytics as you expand your reach.

Conclusion

From scenario planning and sustainable packaging, there are several strategies for improving and scaling your business operations in 2023. However, business success starts with employee well-being. As the next year approaches, remember to check in with and support your team members. Help them achieve a healthy work-life balance and listen to their suggestions. When you build a safe workplace with open dialogue, you ensure that your whole team is healthy and engaged in their roles, which is the only way you can expand your business successfully.