Step 1:
Who?
Identify and understand your target audience. Knowing your target audience is key to developing effective marketing strategies that can help you reach more customers and grow your business. Understanding WHO your employees are and where their strengths lie, helps to use them in the most effective place to promote efficient service and effective products.
Step 2:
An online presence is an essential to grow your business. An online presence validates the company, gives valuable contact information and tends to breed loyalty. An online presence also reaches a greater audience; increases perceived trustworthiness of the business. Having a website and a social media presence is crucial in today’s digital age. Make sure your website is optimized for search engines and use social media platforms to engage with your audience and promote your products or services.
Step 3:
Identify your key products or service: A niche key product might change according to the environment, and with technological advances, as well as competitors entering the marketplace. Re-evaluate your main product/service over time to ensure you keep up to date.
Step 4:
Expand your product or service offerings: ‘Keep a few fishing lines in the water’! Consider adding new products or services to your line-up to appeal to a broader audience and increase revenue streams.
Step 5:
Build good relationships. Businesses grow because of people.
- Give excellent customer service to the public, which can lead to repeat business and positive word-of-mouth referrals, increased repeat business and helps to grow your business. Personalize your interactions with customers.
- Train yourself and your staff in excellent client service, the products and especially your strategic plan so that the team moves in the same direction.
- Get advice from shareholders, some of which could be implemented.
Step 6:
Consider strategic partnerships: Collaborating with other businesses or organizations can help you reach new audiences and expand your offerings. Look for opportunities to partner with businesses that complement your own. Example: A gym and a health food Café. Network forums with other business owners can be valuable such as online forums and training conferences. Business is often about WHO you know as much as what you know!
Step 7:
Analyse and adjust your strategies: Plan! We cannot grow a business without planning. Regularly track and analyse your business metrics to see what’s working and what’s not. Adjust your strategies accordingly to improve efficiency and profitability.
Step 8:
Growing your business does not always mean the staff quotient needs to grow. Hiring the right people is important. Make sure that you use wise HR practices, with background checks, interviews and transparent processes to ensure the staff you hire can help grow your business with you!
Your business is unique, and takes commitment and hard work! Start today with creating a working document with changes and strategies you would like to institute to help grow your business. Be open to change and evaluate your strategies for the best results.
Article Author:
Zelide Harris