5 Pro Tips for Smart Business Investments in 2024

Owning your business is a marathon, not a sprint. And investing in your business helps you improve your process and strengthen your position for the long haul. Smart business investments in 2024 require identifying areas for growth, being honest about your vulnerabilities, and searching out professional solutions to help you reach your goals. In this article, we list five common ways online store owners can invest in their success in 2024.

 

1. Invest in Social Media Tools

Maybe it seems like you’re spinning your wheels when it comes to social media. Perhaps, you’ve tried switching up your posting times, varying your content types, or even paying for ads to no avail. Your social media marketing just isn’t gaining traction, and, as a result, your sales are stagnating. Social media tools may be the fresh set of eyes you need to help you chart a path to marketing success.

Social media tools provide smart business owners with detailed insights that go deeper than the metrics that come with your business’s social media accounts. Furthermore, social media tools can combine your accounts into one dashboard so that you can see how your performance compares across channels, helping you focus your efforts where you’re most likely to see results.

 

2. Invest in Influencer Marketing

Influencer marketing is one of the best digital marketing strategies out there. Consumers trust an influencer’s endorsement far more than they trust paid ads and other traditional marketing methods. Additionally, when you partner with an influencer, you’re expanding your reach by tapping into their audience.

Influencer marketing isn’t as expensive as you may think, and the return on investment is higher than many other marketing strategies. According to Azea Insights, the average cost of using influencer marketing with an Instagram influencer was $1,170. Of course, nano influencers, or those with fewer than 1,000 followers, cost less than celebrity influencers, or those with more than a million followers.

 

3. Invest in Professional Website Development

We get it: solopreneurs are scrappy. You’ll dive deep into YouTube videos and library materials to learn how to DIY nearly every aspect of your business, including website development. However, your homemade website may be hurting your business.

Consumers don’t want to wait around for a website to load. According to Google, just over half of users will give up on a website that takes longer than three seconds to load. And that slow rate of loading hurts your SEO as well. Google will push a slow-loading website down the results pages. From abandoned carts to missing out on mobile users, a do-it-yourself website will sink your business.

 

4. Invest in SEO Development

Even a shiny website with all the bells and whistles won’t bring you e-commerce success if no one finds it. Optimizing your website and social media profiles for search engines isn’t as simple as writing a monthly blog post. Professional SEO development services will help you find the places where your SEO is lacking. Your website’s coding, photo captions, and even internal links all have a significant impact on how your online store ranks in organic searches.

Professional SEO services can help you tweak in your favor the numerous factors that go into search results. Additionally, professional SEO services can help you find the right combination of keywords that will earn you a coveted first ranking in search results.

 

5. Invest in Smarter Inventory Management

If you have a closet filled with unsold products that you’re giving away at every wedding, birthday party or community garage sale you’re invited to, it’s time to invest in smarter inventory management. A mountain of unsold merchandise in the corner of the garage eats into your online store’s profits. A better way is to add new offerings to your online store before you invest in stock.

Dropshipping lets you see how your market fits with a product without a big upfront investment. Simply add a product to your online store. When it sells, you place an order with TVCMALL. Then, we handle packaging and shipping the product to your customer. Dropshipping with TVCMALL allows you to quickly launch new products without the anxiety of risking your capital.

 

THRIVE in 2024 with Smart Business Investments

Every smart business owner has had help along the way. By seeking out the professional services that will give you a leg up in the e-commerce space, you’ll set your online store up for success in 2024 and beyond. Every step of the way, TVCMALL can give you the support you need. Whether it’s dropshipping services, market analysis, or customization services, let TVCMALL boost your business to the next level.