Inventory is usually associated with retail, but it can be useful in countless other areas of life. You don’t need to have an extensive inventory to make your management and communications less effective – not to mention the unnecessary additional costs it can incur if you don’t have the right skills. It’s also worth taking stock of your digital marketing tools and profiles, especially if you’re a founder who also manages this area.
Why is inventory management a key activity?
You don’t sell clothes, you don’t have frozen goods, you don’t deal with logistics – why do you need a warehouse management system? Whether you’re self-employed or run a company with several employees, you’re using more and more digital tools – but it’s easy to forget that after a while you require to move on to other things.
Neglected digital marketing tools can bring the following risks:
● Unnecessary additional costs: It’s a common mistake to not have staff in the organization manage or cancel subscriptions and do software inventory management, due to insufficiently clarified responsibilities or limited resources.
● Updated contact details: If the most up-to-date information about your company is not available online, you could be losing potential new customers.
● Efficiency: If you’re not using the latest software, you may be missing out on not only cool new designs but also features that can make your organization’s work much easier and more efficient.
● Trouble always comes at the worst possible time: Unfortunately, trouble always comes when key employees are on vacation or you’re about to close a big deal. For this reason, it’s especially important to manage and assign the necessary actions to those responsible.
Your website is a key component of your digital marketing strategy. If you do not maintain it (and we do not just mean the code that runs in the background), it can cause serious sales problems. Especially if you are using this digital channel for customer acquisition or directing potential customers there at some stage of the sales funnel, it’s critical that your data and contact details are up to date.
You don’t even have to be a victim of a hacking attack for your social media profile to become a liability to your work. At least once a year, take the time to delete unnecessary posts, check your DMs and spam, and update your contact information.
In 2021, there are few things more depressing than a neglected social media profile, so update your company background and profile picture. The messages you post should reflect your company’s latest services and products and be consistent with the message of your latest ads.
Your contact list
Regardless of your preferred channels for customer acquisition, it pays to review and update your existing contacts once a year. This may seem like unnecessary extra work, but you never know when you might need a phone number or email address. If you don’t keep them up to date, you’ll have thousands of contacts and you’ll have a hard time leveraging the network you’ve built.
And the latter is key to everything because once you’ve completed your digital marketing inventory, you can start new campaigns or sales redesign. Who knows, you might have an old contact to support you.