Many businesses spend a lot of money to refine their product development process in the hopes that the result would tempt customers to purchase. However, most business owners overlook industry trends that could help them acquire new clients and maintain revenue.
Here in this article, we will teach you 5 ground-breaking Canadian market strategies to give a boost to your start-up and will tell you what is tax credit financing?
- Get tax credit financing
Tax credits are financial incentives provided by Canada’s federal, provincial, and territory governments that reduce the amount of tax you owe. Tax credits are not the same as tax deductions, which lower the amount of income that can be taxed in the first place.
There is no limit to how many taxes credits you can take advantage of if you qualify. Tax credits can help you get a bigger refund from the government, but they don’t guarantee it.
- Set clear goals
The second step is to figure out what you want to accomplish with your project and how you’ll go about doing it. The following are some points to mention:
- Company expansion objectives
- Your desired sales volume
- The product or service you’ll be exporting to the target market
- Budget and other resources available
- Get direct data from users
It might be highly advantageous to invite potential consumers to your workplace for an in-depth interview or focus groups. If meeting face-to-face with customers is challenging, digital solutions like Survey monkey can let you obtain primary data and hear directly from people.
Create a basic survey and give it to your audience via email or social media. When a user completes the survey, the software sends you an immediate notification. Although digital forms are simple to produce and disseminate, they do have one disadvantage: a poor response rate.
It’s critical to pay attention to what customers have to say. If feedback shows that considerable adjustments in your direction are required, you should reconsider your business approach.
- Improve your branding
Customers are more shopping-savvy than ever before, which means that if you can create your firm as a brand that generates confidence, you’ll have a far better chance of converting them into consumers.
Furthermore, while gaining confidence does not happen quickly, there are many things you can do to improve it.
Organizing or sponsoring an event or a conference that brings together the greatest business people and companies in your area is a terrific way to start.
- Maintain an Active Presence on Social Media
It’s safe to assume that part or all of your target audience is on social media, no matter what your business is.
It is your responsibility to figure out which social media platforms you use.
Even if some platforms aren’t the most important for your sector, you should nonetheless create an account because you want to make sure that no one else creates an account with the same name as your company, since this could affect your reputation.