Increasing Your Business’s Growth

Whether you are a new business owner or you have owned a business for some time, there are always ways to continue to improve your success. Here are some ways that you can help your business grow.

1. Professional Growth: Even if you have a degree in business, there is so much you can continue to learn that will benefit your company. Making a commitment to learn about your field of service or products. Take the time to figure out what items are highly desired currently so that you can provide the top quality items for your customer. A smart leader takes time to understand what their customers are saying.

2. Track Sales: Analyzing and tracking sales is an important part of growing a business. You should have tools that help you manage and track the sales. You can also analyze things such as the effectiveness of a marketing strategy like email marketing. Software can give you percentages of open emails and deleted emails as well as adding traceable links. This lets you, as the owner, know what strategies are working to generate more sales. Knowing what your customers respond to the best is important.

3. Retain Customers: Customers should be the focus for your company; without customers, there is no business. Existing customers are worth more than 5 prospective customers. Reaching out to your clients is crucial to continued success. There are a variety of ways to ensuring your customers say loyal to your business.

• Listen to what your clients are saying. If they aren’t satisfied for some reason, work towards making the customers happy.

• Provide top customer service.

• Give the customers coupons as thank you gestures.

• Provide personal marketing; let them in on information on the company and future plans.

4. Top Quality Products and/or Services: There are thousands of businesses providing the same products or services as your company. There needs to be something setting your business apart from the others. One of the ways to do this is to ensure your customers receive only the highest quality products as possible at the same price as competitors.

   Quality is very important when it comes to your business’s growth. Owners need to take the time to find the appropriate avenues to provide top quality products or services to your customers. This can mean scouting out the best places to fabricate the products or highly qualified professionals to provide the services to consumers.

5. Use Appropriate Marketing Strategies: There are plenty of marketing options to consider when you want to grow your business. Some of these are free and others cost some money. Marketing will bring you future clients as well as building customer loyalty for existing customers.

• Word of mouth marketing is free, but it is one of the most important marketing options available. It can go either good or bad for your company depending on the customer’s experience with your company. This is why every transaction and client’s experience matters every single time. One bad experience told to multiple friends means the business is losing several prospective clients.

• Social media marketing is anything that the business puts on their social media accounts. You can post questions to interact with your clients, promotional sales, blog posts and more. The options are truly endless. For blog posts, using search engine optimization (SEO) is important to bring more traffic to your website.

• Email marketing is the use of emails to market and communicate with consumers. Generally, businesses create a permission based email list, and they send out weekly newsletters. The newsletters can include coupons, a promotional sale, a letter from the owner, history of the company and more.

There are many benefits to email marketing such as:

• Affordable

• Takes an hour or two

• Personal

• Traceable

• Generates more venue

• Leads to brand loyalty

• Encourages customer trust

• Paid media advertising comes in many forms. The pay per click form is popular; companies pay websites or blogs to have an ad on their page. Ideally, the blog will attract clients who may be interested in your company’s products or services. Other options include commercials or radio advertisements. Essentially, this category is anything that is not owned or earned by the company.

6. Online Optimization: A majority of your customers are going to be reading your emails, marketing advertisements and visiting your website through their mobile device. This is a huge thing to remember. Everything needs to be optimized for mobile usage.

For example, if your website isn’t mobile optimized, a customer won’t be able to search effectively through the products. This is a loss of a possible sale. If your emails aren’t viewable on mobile emails, the client will delete them before being able to read it.

There are so many different routes available to grow your business. Leaders should make sales visions and goals for their business, that are attainable, to work towards. Using some of the above mentioned strategies can lead to team member successfully completing these goals.

If your business is already working towards all of the above mentioned goals, here are some other ideas to continue your business’s growth.

• Enter new markets such as exporting or selling beyond your region. Is your company selling globally?

• Create new products or service lines.

• Purchase new technology and better equipment to increase your staff’s capabilities. It also leads to better efficiency for team members.

• Increase your networking efforts to find new business partners or investors.

• Partner up with other businesses. It’s a great way to share resources or offer collaborations. Strategic partnerships are a surefire way to help each other achieve mutual goals.

• Reduce your overhead costs. Don’t be afraid to make tough decision or renegotiate rates with your suppliers.

• Challenge yourself to always improve; set quarterly and yearly goals. Make sure they are obtainable within the time frame. Don’t let your business stagnate. Always strive to improve.

Your business will never hit a point where there is no room to improve. There is always an area you can work towards bettering.