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It is a sign of how quickly inflation has increased that, from May 2021 to May 2022, the Consumer Price Index (CPI) increased by 8.6%, as noted on the Entrepreneur website. 

However, high inflation is hardly an issue limited to the United States, as 60% of advanced economies have been battling the same problem. If you run a business, you could have seen many of its ongoing costs rise — but how can you help yourself to rein them back in?

Streamline your expenses as far as practically possible 

When you look closer at your corporate running costs, you could notice that not all of them are strictly necessary. For example, if you are currently sourcing, say, your office space and online connectivity separately, you might be able to save money by obtaining them together.

Keep in mind that renting a serviced office from BE Offices would give you access to a dedicated workspace, high-speed Wi-Fi, onsite recycling points and free telephone calls, too.

Encourage your clients to pay you sooner 

Doing this can help you to improve your company’s cash flow, as you wouldn’t have to wait quite as long before paying vendors and investing in previously unexplored opportunities. 

However, the especially crucial word here is ‘encourage’. You don’t want your clients to feel under too much pressure to pay you earlier than usual, as they are likely to be facing their own struggles with inflation. 

So, you could gently nudge these clients in the right direction by offering discounts for early payment, and start requesting upfront deposits just for larger products or services.

Foster competition between vendors 

You need to get supplies from somewhere, but that ‘somewhere’ doesn’t necessarily have to be the same vendor time and time again. In fact, it can pay off handsomely if you strike deals with multiple vendors.

That way, if one of them raises their prices, you could switch to a different vendor — and perhaps, in the process, incentivise the original vendor to do what they can to reverse their price hikes. 

Keep as many of your existing employees as possible 

You might already be committed to doing this, but there could remain a need for you to redouble your efforts. That’s because your employees are likely to have been hit hard in the pocket as a result of inflation-driven increases in prices attached to everyday items.

Hence, these employees could be eager for a rise in their salaries. If you are unable to pay your workers more, you could instead offer them perks that would incur less expense for you personally — such as a wealth of remote-working options.

Implement cost-saving practices that you would likely be able to sustain 

According to a recent New York Federal Reserve survey mentioned by NBC News, consumers anticipate the annual inflation rate sitting at 5.7% by the fall of 2023. 

That figure is much higher than the Federal Reserve’s 2% target — underlining how important it is that, as a business owner, you plan for the long haul with your inflation-proofing measures.

Making it as a medical business in this competitive market can be tough. Because of the pandemic, the medical industry has seen a boom with more businesses popping up all over. If you want to make it in this industry, you need to be resourceful and get creative with how you run your brand. One way to stay ahead of your competitors is through a strong brand image and marketing. 

Whether you run a small medical practice or sell supplies, there are a few key things to know if you want to be successful. To help you along the way, here are some tips and tricks to help get your brand out there. Follow these marketing tips and take your medical business to newer and greater heights this quarter!

Get the right person on the job

Whether you’re a small or large business, it can be hard finding the right person for the job. In some cases, it’s better to call on professionals to help you craft the perfect marketing strategy for your business. Whether you deal in medical supplies or supply mental health services, you need someone who knows how your work operates. 

Different branches of medicine provide different services which need to be marketed accordingly. Managing medical records and behavioral health marketing are not the same and need different tactics. Whether you choose to outsource or market in-house, you need to put only the best, most qualified people for the job.  

Use consistent branding

If you want to push your business out there and make it stay in the minds of your customers, you have to create a consistent brand. You have to create a brand identity that is consistent and sticks out from your competitors. Whatever service your business provides, you need to build a strong and recognizable brand to promote awareness.

To create a consistent brand, you first need to determine what your medical brand is all about and what makes it unique. What does your business have to offer, how does it do things differently from other brands, and what makes it stand out? Once you figure this out, use it to pave the way for your marketing strategy. 

Create a strong website

In 2022, your medical service business needs to get with the times and have a strong online presence. You need to create a strong website that will represent your business and what it provides. If potential customers and patients can find what they need from your website, they’ll be all the happier for it. Never underestimate the power of strong web design and an easy-to-navigate website.

A good addition to a strong website is to have a strong and informative blog for your business. A blog that is regularly updated and maintained can serve as a powerful marketing tool. Use it to post updates, interact with patients, and gather intel on how you can improve your business and the service you provide. 

Look into 

Another way to make use of modern technology for your brand is to look into SEO techniques. Most businesses today get the majority of their customers from online searches. If you want to get your brand out there, you have to optimize the way potential customers find you online. 

SEO is one of many useful tools you have at your disposal to push your business to the front. Do some research and construct your online content with optimal phrases and keywords to push it to the top. Optimize your online content so that it’s informative, easy to understand, and find. Whatever work your business does in the medical sector, you can use SEO to your advantage. 

Have a responsive online presence

It’s one thing to have an online presence whether through social media, a website, or a blog, but it’s another to be responsive online. As a business in the medical industry, you need to be in tune with the wants and needs of your clientele. 

To be responsive, you have to be on top of your online presence, reply to emails, messages, and comments fast. You need to connect with your audience on a personal level and listen to what the public says. Being present and responsive online shows that you value your clientele and that you’re a reputable business. Stay engaged with your audience online and you won’t have to work as hard to gain new customers.

Listen to your patients

The easiest way to market to your target audience is to provide for and listen to your patients. Your patients and customers are the driving force behind your business and you need to listen to them if you want to do a good job. To listen to your patients, you need to have a good idea of what they want, and then try to supply that. 

To do this you need to have an open line of communication with your patients and keep up with it. You need to make the business and medical services that you supply inclusive and accessible. Focus on improving the patient’s experience with your brand, and you cannot go wrong!

Make the most of reviews and feedback

Last but not least, no good marketing strategy is complete without feedback. Feedback and reviews are powerful tools that you can use to further your brand. By being in tune with what your clientele wants, and aligning your brand with it, you can further your business. 

You can collect feedback in many ways, from asking customers and patients directly to questionnaires, or comments. Once you’ve gotten the feedback or reviews, you need to compile it into usable data to help you better your brand. Never underestimate the power of feedback if you want to put your medical service business on the map. 

So there you have it! Now that you’re all caught up, you’re ready to market your business like a pro! To propel your medical service business forward, you need to hire the right person for the job. Create a strong brand image and use consistent branding to get out there. Use technology through building a strong website, SEO, and creating a responsive online presence. Listen to your patients, focus on their experience and remember to make the most of the feedback you receive. Keep these tips in mind and your medical business is sure to be a success!

It is not easy to avoid the duties. However, an invoice can help you pay less. So, the seller should make a copy of the invoice containing information about your shipment items. It should also contain the units in the items and their total value. For example, instead of “phone accessories’, the invoice should contain more details like a specification of the accessories, quantity, and the country the items have been manufactured. Marking the source of the items is vital since items from specific countries are normally duty-free. You can go for electronic documentation, where the importer of record is forwarded to the customs duty officials. This way, you don’t have to worry about your papers getting destroyed.

Call the Seller If You Get a Custom Duty Notice

When the package reaches the port, more duties may be added than you owe. It is important to call the seller if they have paid the duties and explain the situation. The seller will then handle things from their side so that you will not pay more. Remember, customs cannot release the package until you pay the duties. It is one rule of importing items. So, work with the seller to ensure you don’t pay more than you should.

Get a Detailed Invoice for the Shipment

It is not easy to avoid the duties. However, an invoice can help you pay less. So, the seller should make a copy of the invoice containing information about your shipment items. It should also contain the units in the items and their total value. For example, instead of “phone accessories’, the invoice should contain more details like a specification of the accessories, quantity, and the country the items have been manufactured. Marking the source of the items is vital since items from specific countries are normally duty-free. You can go for electronic documentation, where the invoice is forwarded to the customs duty officials. This way, you don’t have to worry about your papers getting destroyed.

Use the Help of a Customs Broker

If the seller does not have a broker, find one for yourself. A broker will significantly figure out the classification of your goods and ensure they are well-prepared. The broker will then place the items with the freight carrier. All these processes ensure you don’t pay more duties than you owe. However, you require a customs broker that delivers to meet this need. The broker is familiar with codes that classify items. Therefore, they will look at the items you want to be shipped and classify them using the code. This way, you will not pay more than you should.

Ask the Freight Firm to Forward the Shipment

If you have not indicated your address and asked the freight company to forward the shipment to your location, you will have to go and pick it up yourself at the port. Driving to pick them up can be inconvenient and will cost you more. If your business is located near the port, picking up your items can be economical. However, if you live far away, consider picking them up within 15 days. The items should also be forwarded within 15 days, after which they will be hauled to the warehouse. Once it gets to the warehouse, you will need to pay more for storage. Therefore, avoid these additional costs by instructing the freight company to forward the items to your location.

Follow Your Shipment

It is advisable to track your items during transit to know where they are and when they arrive. You can contact the seller if the tracking number is not working. So, set an alert that will notify you about the shipment’s location. This way, you don’t need to keep looking up the tracking. If you bought valuable items, you should go for courier services if the shipment insurance does not provide enough coverage. You will pay more for the service, but you will be assured that your package arrives safely and on time.

Furthermore, you will not pay excess duties. Most businesses that buy valuable items hire couriers to deliver them to their doorstep. So, find a reliable one and compare their services to ensure you get an affordable one. Remember, prices differ with couriers, so comparing them is crucial.

Summary

International shipping is a serious business that you must be cautious with. Customs can confiscate or delay shipment if the value of your items is more than you have listed or if you cannot pay the duties. The best thing to do is to follow the rules and avoid importing banned items. Most importantly, use the help of a reliable customs broker to make things easier.