Have you ever thought about business relocation? A better economy, cost-effectiveness, and great talent can transform your business growth. If from the current site, you are not getting enough revenue, search for a high-potential location.
Undoubtedly, the process looks daunting to all of us.
Do not worry! If you follow the key rules of relocation, your chances of a successful relocation will always improve. A little struggle, in the beginning, can let you reap the benefits in the long run.
So, let us find out these must-do things for a business move:
9 To-Dos When Moving Your Business To a New Location
Designed with Desygner
Detailed Planning for a Smooth Transition
Once you have made your mind to move, not every other place can be the right fit for your business. Research in detail and find out the place where your target market is present. Here are a few important things to consider:
- Cost: Calculate the production cost and analyze the prices that you can offer to this new market. Check out the tax regulations and see how much yearly tax you need to pay. Also, check tax for imports, transportation, and business equipment. In short, you need to determine how much of the total, fixed and variable costs will incur.
- Economy: Studying the income pattern and economy of the new location is also important. Check out suppliers and vendors for suggestions. Compare prices with the current location and analyze the difference. Once you are done with the above two steps, find out what price can you set. It should be based on the total cost of the new location.
- Competitor Analysis: Do not forget to do a detailed competitor analysis too. See what your rivals are up to, their strategies, prices, and consumer relation tactics can teach you a lot. Apart from it, see the number of competitors. Know their distinctive identity and plan what you can do to stand out from the crowd. After researching these basics, you are in a better position to decide on the move. If things are positive, go ahead and search for a suitable international mover. Check out their packages, see what facilities they are providing, ask their timeline, and select the best one.
Network establishment for business growth
Let everyone know about your move before moving. Yes, you need to build connections beforehand. Search for the growing companies and connect with them. Ask them about this new community, business opportunities, talent hunt, challenges, and much more.
Business events
Get enough knowledge about the major business events. Try to enroll your business in all major workshops, seminars, business expos, etc. Inquire about HR firms, set meetings, and discuss how they can help you in finding the right talent.
So, plan for a couple of trips before you finally move. Bowling, annual dinners, and parties in a new location will let you know more about the place.
You can observe how start-ups are dealing and how well-established brands maintain their quality. All these and much more can never be learned from just a Google search. If you think emails are enough for connection, you are making the biggest mistake. Nothing is better than personal one-on-one contact.
New marketing tactics for brand exposure
The thought behind the former marketing strategy may not work for a new location. New people, new communities, and new challenges demand something different. For instance, if you deal in seasonal products, you can plan out the marketing tactics when traditional events are coming.
Study the target market
Respect the cultural values and tweak your marketing plans accordingly. See what the new market likes and what their values are. You can even make a new social media campaign designed for your new location. Offer initial discounts and encourage people to avail your service.
Digital marketing plan
Create a digital marketing plan from scratch. You also need to change your content strategy. Topics suitable for the former market may not work for the new place.
Search for new topics, target suitable keywords, and post content accordingly.
Moving takes some time but do not compromise on your digital marketing efforts. Create content beforehand. All you need is just to post. You can even post it on the go. Review the paid advertisement strategies too and analyze if they suit the new audience.
Workforce Motivational Strategies for Increasing Productivity
Missing friends, former community, events, and gatherings are common. It can disrupt employee morale and affect productivity. Adjusting to a new place takes time, but you can help employees by offering the following benefits:
⦁ Moving cost
⦁ Incentives for the first month
⦁ Discount coupons of the local stores
⦁ Trips and tours
Remember, employees, play a vital role in business growth. Treat them as a work family and celebrate this transition as an event. Highlight the growth opportunities for them and invest wholeheartedly in their growth and development.
Give them a chance to develop their social circle by connecting with other companies. Such peer gatherings let the employees socialize and learn a lot from others’ experiences. Arrange dinners, events, and picnic trips. Also, make an announcement of discovering the new place together. It will give them a great feel and enhance motivation.
Maintain a Realistic Expectation
Do not expect a productivity jump in your first month. When employees feel motivated, they will give their best. Instead of productivity, focus more on employee motivation in your initial months.
Employees will take time to discover this new place, office, and community. Besides this, since you are dealing with a new audience, things will change. For instance, a marketing manager may require some time to understand the trends of the current market.
Pro Tip:
Let your marketing manager explore this new place beforehand. In this way, the employee will be able to design a strategy that can work after you move.
Consumer Interaction for Better Sales
You are moving to a new place with full enthusiasm. But, how will consumers know? Some businesses don’t want to lose their former clients too. So, they design a strategy that can keep them connected with old ones and help in finding new consumers.
Send emails, join social media groups, upgrade your website address, and change your business card. Also, make an announcement on social media. Create posts that can highlight how you can still serve the former customers. Tell them the shipment time, order process, and availability.
Ask new consumers for reviews. Never get demotivated with negative feedback. There is always a chance for improvement. You can also take contact details from clients to send promotional offers. For the website visitors, use customer relationship management software. It will keep a track of former clients, tell you about growth, and highlight failure.
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Conclusion
All in all, moving is a stressful process. From researching the new place to the final transition, it involves a lot of hard work. Above all, there is a business risk too. But, if we follow the above tips, reducing this risk will become possible.
Like many other businesses, you can also reduce costs and generate more revenue from a new location. All you need is to find the best place, do some planning, and motivate your workforce. When you provide a great service at a reasonable price, getting consumers will not be difficult.
Myrah Abrar
Computer Science Graduate, Writer
Myrah Abrar is a computer science graduate with a passion for web development and digital marketing. She writes blog articles for Asia Relocation, international movers.
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