Tag: Small Business Grow
Most small businesses start with the grand ambition of quickly becoming a medium, then a big business. Here are some quick tips for setting your business up for growth. Find expert advice about -How Can You Help Your Small Business Grow read here
1. Increase Your Customer Numbers
Customers are those people who buy from you at least once. Your job is to find more customers who will buy from you. There are a number of ways to do this, however, if you want to do it fast, you need to identify who your customers are, where they congregate in great numbers, and direct your sales activities towards those ‘places’ where your prospective clients gather.
2. Develop a Marketing Plan
Undertake market research to determine the context of the market you are in and use this, and primary information gathered from your clients, to help you develop an appropriate marketing plan for your business, products and services. A well thought out plan is much likely to be more cohesive and more successful, while a hit and miss approach is likely to be more miss and less hit.
3. Sell More Stuff
Use your existing customer database to sell more stuff. If your customer has already bought a product from you, try to sell your other products and services to them. It is not only easier, it is cheaper too. Research has shown that it can be up to five times cheaper than the cost of finding new customers. You could even ask your customers for referrals.
4. Add More Value
Research has also shown that customers buy based on perceived value and not on price. So look at ways to increase the value of your products or services. A quick way to find out what kind of value you should be offering is to ask your customers. Calling them or asking them to complete a survey about your products and services will help you to find out what your customers are wanting, demanding or wishing for. This information can help you to add value, improve or develop products to keep your customers happy and buying more.
5. Build More Capacity
Improve your customer service processes by making them cheaper, faster, easier, etc. Train your staff to be more competent, learn new skills and improve the customer experience. The more work you put the development of your business, the better able it will be to meet ever-changing demands of your customers and increase it’s ability to adapt to the prevailing business environment.
6. Extend Your Sales Opportunities
Look for ways to generate sales opportunities. This could be through co-operative marketing, new lead generation ideas, the addition of new products and services or greater networking, just to mention a few ideas.
This is just a few ideas to put your small business on the path to growth. With a bit of research, a bit of planning and a lot of focussed activity your small business can become a medium business in no time at all.