Growing your customer base is critical to the success of your business. However, getting new clients is not the only way to grow your business.
If you are struggling to grow your business, these powerful business growth strategies can help transform your small business into a big business.
How to Grow Your Business: 5 Powerful Business Growth Strategies
There is no magic formula or hidden secret that will make your business grow. In fact, not all methods work in all businesses. You must, first of all, know your company and what it has to offer.
Nobody knows your company more than you, that’s true, but don’t be afraid to ask for help if you need it. Sometimes it is better to hire a specialist to help you than to try to do it on your own and end up losing more money.
Global economic crises tend to damage most companies, as we have seen with the Coronavirus pandemic. It is true that not all sectors are equal, since some, such as Digital Marketing, have benefited.
Coronavirus pandemic pushed many companies and businesses towards digitization, which means you have to catch up. This situation requires designing and implementing new strategies to do your business.
Let’s see what are some of the most effective strategies you can implement to grow your business.
Top 5 Business Growth Strategies Every Entrepreneur Must Know
Every business, every project, every company… every goal, every objective, every path… they have different tactics that they can implement to grow their business. Of course, always personalized.
Today I am going to talk to you about the top 5 marketing strategies that are usually common to all monetizable projects.
Remote Work: Telecommuting
Telecommuting, also called remote working, is one of the big trends in the present era.
Although it has been a very widespread practice for years in many European and American countries, in India and other countries, there is still much work to be done.
While in countries such as Sweden or the Netherlands 30% of workers carry out their activity remotely, in our country only 5-7% work remotely. If we can get something positive from the global pandemic, it is that it has put the debate on face-to-face work on the table.
Although it depends a lot on the type of profession and activity, it is true that until the situation forced us to work remotely, many businesses and companies did not even have it in mind. Now, however, there are many activities that are getting used and implemented.
Some benefits of telecommuting are:
- Less stress for the worker by not having to deal with traffic and transportation delays.
- More productivity. It is proven that productivity is 13% higher in employees who work from home.
- Savings in current expenses such as electricity, and rent.
- Greater comfort in meetings and flexibility of schedules.
- Ease of reconciling work and personal life.
They are not only benefits for the worker, who will be less stressed, more productive, and happier. Also for the manager who will see an improvement in his workforce and can save costs, keeping the staff happy.
Read here: How to Use Technology to Grow Your Business
Automation and Digitization
We live in the 21st century and we still do not take advantage of all the facilities that technology offers us? We are in a golden age of creativity and software development.
We have digital tools to facilitate all kinds of tasks, from ordering a taxi to making the purchase efficiently. Why not also use them in our business?
The first digital tool you can implement in your business is an ERP. It is software that helps you to unify and integrate all the different departments of your company. ERP software can help you integrate sales with logistics and in turn with commercial and human resources, all while maintaining independence between departments.
Another tool that can be very useful is called CRM. It is software similar to ERP in that it also serves to unify actions and departments, but is more focused on the relationship with customers.
The good thing about these tools is that most of them are completely customizable, they adapt to your company and your needs. In addition, there is a great offer to choose from and many of these can be integrated with each other.
Take a look, research and you will surely find software that you did not know you needed, but that will make your day-to-day easier.
Strong Customer Base
Your customers are the most important thing in your business. They represent a very important part of any organization. Customers have a lot of power in their hands, they can help you out by recommending you to their acquaintances or sink you with a negative comment. That is why you should make an effort to make them feel loved, appreciated, and, above all, satisfied.
A satisfied customer is doubly valuable: on the one hand because they are more likely to return, and on the other because they will recommend your business to other potential customers. In this way, you ensure not only free positive publicity but even a sincere and reliable commercial, without spending a penny.
Some studies show that 84% of companies that strive to improve their customer service see their efforts rewarded, as they improve their revenue.
Active Online Presence
We live in the golden age of software development and we also have to admit that we live in the internet age. Everything, absolutely everything, happens on the internet.
Many businesses that didn’t even have a social media account have started selling and doing business online. Objectively, there are no reasons not to have an online presence, either by having accounts on social networks such as an online store.
You don’t need a lot of effort or a lot of investment. With a computer, you can integrate sales, receive them, prepare orders, organize logistics, contact the customer, and all without leaving the same screen. Of course, always professionalizing your digital presence.
A web page does not have the highest cost of your branding, and it can represent a key piece in your business. And Social Selling offers you the great way to digitize your sales. But not everything is limited to a web page to sell. The concept of having an online presence is broader.
Social networks are already fully integrated into people’s daily lives. You can take advantage of this and, through them, you can reach thousands of potential customers without having to invest anything more than a little time.
An active profile on social networks, which interacts with users, recommends and provides relevant and quality content, is a fantastic cover letter.
A good social profile gives the impression of a business that cares about its image, its customers and that is interesting. Even if you do not need your services or products at that time, they will be the first to think about when you do.
Marketing and Advertizing
Digital Marketing is a very important piece in today’s market. Whether implementing a generic marketing strategy, or a large-scale campaign, you must dedicate some time to it and set goals for yourself. Once you know what goals you want to achieve, it will be easier to find a way to achieve them.
This does not necessarily mean investing in advertising, although perhaps it is something that I suggest you take into account, depending on your objectives and what your Social Media Marketing Strategy dictates.
It is important that you are aware that there are fundamental actions that are necessary for your marketing strategy to be successful. Do not think that it is free to be on the Internet, nor is it free to be on Social Networks. There is no cost to open your social profiles, but from the moment you do it, you will need resources: financial and human.
Of course, reflect on the need to have that digital presence, in the same places where your target customers are because if you do not coincide with them, you will hardly have the opportunity to close any business.
Read More: 10 Powerful Ways to Boost Sales Right Now
All of these tips can also be a starting point for others. You may not be able to implement a CRM, but it can be the trigger for other software that can be better adapted to your company.
Research, stay informed, and be updated. There is a world of tools out there waiting to be used. You just have to find the one that suits you and the results will not take long to appear.
Read Also: How to Increase Supply Chain Visibility