Even if you’re new to entrepreneurship, it’s natural to consider small business growth. After all, no one starts a business without an eye toward growth. Having a growth mindset has been shown to be a critical characteristic for entrepreneurial success.
This is not to say that all small businesses should eventually become large corporations. It simply means to maximize the company’s potential and maintaining revenue stability
The following small business growth tips will demonstrate how to accomplish this. Taking your business to the next level requires action and consistent effort. Customers and clients will not come knocking on your door unless you demonstrate the door and, more importantly, what is behind it.
Expand your online presence
Even if you do not have an online business, growing your online brand presence is critical for getting your product in front of more eyes, especially if it sells directly to consumers. Several strategies to consider include the following:
- Consistently publish content
Whether you share content via a blog, newsletter, or Twitter account, posting regularly will keep your followers engaged and interested in your brand.
- Maintain your brand’s identity
Whichever online platform you use to promote your business, ensure that the content you publish aligns with your brand’s identity. For instance, if your brand is about simplicity and minimalism, you’re unlikely to want to promote the best Black Friday deals.
- Conduct a promotion
Create excitement for your business by hosting a giveaway or contest. For instance, Lonely Planet utilizes Instagram to encourage users to tag their travel photos in exchange for the chance to be featured on the Lonely Planet page. This broadens their audience reach and encourages users to promote Lonely Planet at no cost to the brand.
- Create your website
Having a user-friendly, up-to-date website is critical to the growth of your business. A modern and functional website design will propel your business forward. You can learn to create a website through courses you can get easily from the Tangolearn, where you can learn subjects ranging from marketing to many other subjects.
A well-optimized and well-designed website can help your business generate new leads and increase your overall conversion rate by 30% or more. Through promotional offers and discount deals, thank customers for visiting your online space.
- Construct a sales funnel
The first step toward rapidly expanding your business is to create a sales funnel. Without a sales funnel, you’re making a grave error. Sales funnels can assist you in automating certain aspects of your business. It enables rapid scaling and expansion. True, some front-end work is required, so join the financial modeling certification course to help you. This feature helps you learn how to manage this in quick succession.
However, once those processes are in place, the rest is easy. According to Frasier, each sales funnel must be carefully conceptualized before it is created. To begin, consider the various funnels.
Whether it’s a free-plus-shipping offer or a high-ticket coaching funnel, it’s critical to build an automated selling machine that enables you to rapidly scale and grow your business.
- Enhance the appearance of your blog
It’s unsurprising that 53% of marketers identify blog posts as their primary inbound marketing activity. According to Corey Wainwright, a content marketing expert, effective blogging can increase traffic to your website, convert that traffic to leads, establish authority in your industry, and help your business achieve long-term success.
When you consider that 81 percent of shoppers conduct research online, well-written blog posts can add significant value to your business over time. Once your blog has established an online presence, potential customers will naturally find it. As a result, ensure that the majority of your content is evergreen. Such posts will require only periodic updating, providing you with a greater return on your investment. Include images, links to blog posts, and pertinent information about your company on all of these sites. Interact with customers and address their concerns and needs. This will help to enhance your brand’s image.
What makes social media and digital advertising so advantageous is that you can leverage ratings and reviews. Indeed, 92 percent of consumers place a high premium on personal recommendations from family and friends. If one customer “likes” your company and says something positive about it, it will attract the attention of others in their network, potentially growing your business.
- Attend Networking Events
Increasing your brand’s visibility can aid in the acquisition of new customers and the expansion of your business. Attending networking events is an excellent way to accomplish this. Investigate local professional organizations and do not be afraid to attend a few events to promote your business.
You can participate in these events in the following ways:
- Attend and network with other business owners
- Delivering a keynote address as an industry expert
Conclusion
According to 2019 data from the United States Bureau of Labor Statistics, approximately 20% of new businesses fail within their first two years, 45% within their first five years, and 65% within their first ten years.
Only 25% of new businesses survive 15 years or longer. If you want to be one of the 25%, paying close attention to these nine tips is the prudent course of action.