6 Ways to Grow Your Business
Guest Blog by Kym Wallis
As a business owner, you’re probably always on the look-out for new ways to grow your business.
There’s a lot of competition out there. Consumers have a lot of choice. So if you want your business to grow, you need to outshine the competition.
How can you do this?
Here are 6 effective ways to grow your business:
1. Build a brand identity
Consumers today have more choices than ever before. That means that, if you want to successfully grow your business, you need to develop a brand identity that’s unique and appealing to your potential customer base.
Remember, you don’t need to try and compete with big companies. If you want to add value to your customers, you should focus on finding what’s special about your business.
What does your business stand for? Who are your customers? And how can you help them?
Once you’ve established this, you can focus on building your identity and applying this across everything you do. From your marketing efforts, to the design of your website, being consistent is key if you want to grow your business successfully.
2. Focus on customer service
Word of mouth is one of the most powerful ways of growing sales. When a potential customer is deciding whether to purchase from you, one of the first things they are likely to check is feedback and reviews from others.
That means that, if you’re trying to grow your business, focusing on customer satisfaction is a must.
The first step is to understand your customers’ needs. Who are your customers? What are their problems, and how can you solve them?
You should always be looking for feedback so you can find out where you can improve. Always be looking to expand on your levels of service so that your customer has the best possible experience.
3. Promote customer loyalty
It’s nearly always cheaper to keep an existing customer than it is to attract a new one. Promoting customer loyalty should be of high priority if you’re trying to grow your business.
Make sure that you look after your existing customer base. Stay in contact via newsletter, social media, or other channels. And make sure you’re keeping your customers informed when it comes to promotional offers and discounts on products.
4. Be realistic about completing tasks
When you’re running your own business, it can be very easy to become overwhelmed. With so many tasks to complete, it’s important to prioritise your tasks and manage your time properly.
It’s also important to recognise that you can’t do everything yourself. Sometimes you won’t have the time, the skills, or the resources to complete a certain task.
If this is the case, it can be beneficial to outsource some of your tasks to third-parties or freelancers. This will free up time, so that you can focus on growing your business.
5. Use an omnichannel approach
The rising popularity of online and mobile shopping means that, when it comes to shopping, consumers today expect to have more options.
Mobile shopping is the fasting growing channel. It offers a multitude of benefits for customers and businesses alike, like being more convenient and freeing up time to do other things.
However, there are still benefits to a traditional, offline shopping experience. For example, a lot of customers still value being able to look at a product in the flesh, try it out, and test it.
That’s why, for businesses that are trying to grow, it’s best to take an omnichannel approach. Doing this ensures you take advantage of the benefits of both online and offline sales. Combining platforms can help you to maximise results.
For example, customers can find the best deals online, then finalise their purchase offline, or the reverse. It gives more flexibility, and gives you the opportunity for more up-selling and cross-selling of products.
6. Social media marketing
If you’re trying to grow your business, being able to reach as many potential customers as possible is essential.
That’s where social media marketing comes in. Social media platforms give you a huge audience, and allow you to reach a large number of people instantly.
You can use it to communicate effectively with your existing customers. You can also use it to listen to feedback or complaints and see where you need to improve.
In addition to this, you can use it to promote your products or services and reach out to potential new customers, or to re-target previous customers.
One of the ways you can do this is through Facebook paid ads. These ads let you target customers based on location, gender, age, interests, pages they have liked, browsing habits, or various other criteria. This is a cost effective and easy to use marketing tool.
Kym Wallis, the founding director of Higher Ranking has over 15 years of advertising sales, digital strategy, and business development experience. He is currently working as Digital Adviser for Colourtech.