It is every company’s desire to grow their bottom line and the reason is that it indicates their rate of growth. Whether your company’s overall performances are hitting the target is ultimately revealed by your net profit (another name for bottom line). A top line profit can hardly be used to gauge overall performance of a business because it still contains company’s expenses, which must be deducted to arrive at the final profit. Your gross profit is obtained when primary operational cost is deducted from your total sales of goods or services. It however does not stop at that point; there is the overall or operative cost that must be deducted to obtain the final profit, which is usually kept aside as your company’s profits for that month, week, or year as the case may be. Therefore, if a company is seeking to increase their bottom line profit, they want to increase their productivity. A company’s productivity is indicated per resources input. A resource input that generates high result means the productivity is high; but a combination of a company’s resources input that yields low results mean low productivity. Consequently, if an digital marketing agency wishes to increase their bottom line, they will need to focus on the factors that influence their productivity directly or indirectly. In this article, few among these resources will be discussed and how it can be used to increase a company’s bottom line.
Labor input
One of the primary factors of production is labor. Labor or workers are needed by all companies; be it online or offline. Initially, people where afraid that digitalization, online marketing, and aspects of information technology will usurp their roles and take over their functions; meaning, companies will depend on machines to execute their job. Today, though information technology is increasing, it however doesn’t go near replacing the benefits of human participation in business; if anything, it increases their relevance. Therefore, to enhance bottom line, a company should carry-out a labor performance rating. Discover if all laborers have been putting in their best; and if not, identify how it can be improved. In the process, if some workers are found lacking in their duties, they may have to be replaced. While others who are diligent will need to be encouraged to do more. Also, carry-out worker’s survey asking their opinion about how the company can do better. Additionally, seminar and courses can be arranged to increase workers knowledge which will affect their performances.
Increase in assets
Another source that can be enhanced to increase productivity is assets. If there is new technology maybe software, or any hardware that can increase rates of performance, get it and use it. If it is increasing your local online services you can acquire an office to possess offline presence where prospective clients will locate you for business.
Time
Time is another primary resource that if utilized efficiently can increase productivity and ultimately your net profit.
Promotion/advertisement
This is an indirect but very important business resource that can increase productivity indirectly and immensely. It is so important that no company can do without it. Conduct performance rating on your marketing campaign and identify areas that are lacking and build up on it.
Customer relationship
Increase your level of customer relationship.
Increasing online marketing company bottom line requires reviewing all resources adopted in the business.
Digital Marketing Agency 