Starting a small business can be exciting. But the *launch* of your business is only one piece of the puzzle. Once you’re up and running, you need to figure out how best to connect with your ideal customers and keep them engaged – this will ensure that your business continues to grow.
Whether it’s a newer business or you want to give your existing business a boost, check out these 5 ways to grow a small business.
- Start with a marketing plan.
- Expand your digital presence.
- Look for partnership opportunities.
- Experiment with different marketing strategies.
- Leverage your existing clientele.
Start with a marketing plan.
Before you do anything to grow your business, you need a Marketing Plan – Look at it as a roadmap for your business. Your small business marketing plan should help you get from where you are now (a startup looking to grow) to where you want to be (a healthy business with lots of customers and revenue), as well as ensuring that all the strategies and tactics you employ will help you get there.
Your small business marketing plan should include all the information and details you need so that you can effectively market and grow your business, including:
- Your customers. Who is your ideal customer? The more specific you describe who you’re trying to reach with your marketing, the more effective your efforts will be.
- Your competitors. Who are your competitors in the market? How do they connect with your customers? The more you know about the competition, the better equipped you are to present yourself as a better alternative.
- Your marketing strategy and goals. What marketing strategies will you employ to connect with your target audience? What are your goals for these strategies? If you haven’t clarified what you’re trying to achieve with your marketing, it becomes difficult to evaluate whether your strategy has been successful.
Now, remember that your marketing plan can evolve and change over time. But having a plan in place will give you a clear direction on how to grow your business – and make sure that the steps you take bring you closer to your goal.
Expand your digital presence.
A digital presence is a key element in growing a small business. But for many business owners, digital initiatives have been overshadowed by building their business personally. Then why not take the time to reprioritise your digital strategy? Focus on expanding your digital presence to build relationships, connect with new customers, and sell to existing ones.
There are several ways to grow a small business’s presence online – start with this to-do list.
- Optimise your website. Everyone who visits your small business website is a potential customer. Find ways to engage these visitors and drive growth for your website. For example, you can launch a blog with useful information for your target audience, install AI chatbot software to answer common questions from customers, or streamline your ecommerce strategy.
- Get social. One of the golden rules of marketing is to Engage your target audience, where they already are… And right now, your target audience is on social media. Social media can be a great way to connect with new customers and build relationships – not to mention that it’s one of the best ways to grow a small business. Start creating content and having conversations on the platforms your customers use the most, and offer your social followers good reasons to engage with your business (e.g., exclusive discount coupons).
- Try social media ads. Social media posts are a great way to connect with your target audience. However, if you’re looking to introduce your brand to new customers, advertising on social media can be a great method. And because social media advertising platforms (like Facebook ads and Instagram ads) let you personalise, tailor, and target your ads, you can ensure that your brand is shown to people who are most likely to become customers.
Look for partnership opportunities.
Growing a business can be difficult – but you don’t have to do it alone. Partnering with other businesses that aren’t competitors (but with similar customer base) can be a great way to grow your small business. You’ll get your brand in front of potential customers and expand your reach.
Let’s say you own an organic juice bar and you want to attract local fitness enthusiasts to your store. Maybe you could reach out to nearby gyms to see if you could host a pop-up event on their premises where their customers could sample your product and learn more about your small business. Or maybe you’re trying to create some awareness for your wine subscription service. Here, you could contact meal box companies to see if they’d be open to including a tasting (along with a discount coupon) in their upcoming boxes so customers could enjoy your wine with their dinner.
When reaching out to potential partners, be sure to demonstrate the value you want to bring to the partnership. What can you offer them (and their customers) that will make them work with you? Consider a percentage of referral sales, a social media promotion, or a welcome discount.
Experiment with different marketing strategies.
There is no one-size-fits-all solution when you want to grow a small business. A strategy that helps one business connect with hundreds of new customers may not work for another at all. If you want to grow your business effectively, one of the best things you can do is experiment with different strategies until you find what works for your business and your customers.
For example, you may find that your content marketing strategy consistently provides you with qualified leads that you’re able to convert into paying customers – but that your Brochures doesn’t provide the same kind of ROI. Or maybe you’re learning that in-person marketing events bring you a ton of new deals, but you don’t see the same kind of revenue increase after rolling out a new digital ad campaign.
Remember: There is no single, universal, or fail-safe way to grow your business, so you need to experiment with different marketing strategies until you find the one that works best.
Leverage your existing customer database.
Your current customers already know what it’s like to work with you, whether it’s by making use of your services or purchasing your products. And if they keep coming to you, it means they’re happy with the experience… So why not leverage your current customer base to grow your business?
Ask your existing customers to refer their friends and family to your business, or Ask them to write reviews on Google or HelloPeter. Find your most loyal customers and ask them to write a testimonial for your website – or, better yet, record their customer testimonial on video so you can share it on your social media. Don’t forget to thank them for their help, for example by giving them a free product or a discount coupon.
