If starting is hard, scaling is challenging. It’s almost akin to climbing that steep hill at the end of your energy levels. But, as Ginni Rometty rightly said, "growth and comfort don't coexist." So, if you’re wondering how to see growth in your small business, you’re not alone.
You need to design an effective push advertising campaign to get more attraction for your products and services. In this process, you have to plan a robust marketing strategy that helps you generate good potential leads for your business.
Like every other business owner or marketer, even your goal would be to drive more sales and generate revenue with minimal resources and efforts.
But how can you achieve that?
Let’s find out.
Here are the top strategies on how to see growth in your small business.
You can streamline a significant chunk of your sales processes with the sales funnel. You can't avoid your budget system while preparing your sales funnel. You need to build a monthly budget plan for your sales team to get qualified sales for your small business.
But what is a sales funnel?
It’s the journey your target audience takes from the point they notice your brand to the point where they become your loyal customers.
Let’s take a look at the five-stage sales funnel. Some companies add/remove a few stages while creating the funnel.
Image via Monday
But why do you need a sales funnel in the first place?
As a small business, every lead is essential so you need to develop a strategy that generates maximum leads for your small business. However, when you don't have complete knowledge about your leads, it’s going to be challenging to convert them into customers.
However, with the sales funnel, you get an insight into the journey of every lead from the time they first visit your website. The funnel helps the sales team understand how to handle the lead, nurture them, and convert them into customers.
But here’s the thing.
Every firm requires different sales funnels unique to its lead generation needs and growth requirements. It is thus essential that you conceptualize your funnel before building it.
For example, if you deal in mortgage loan services such as All Reverse Mortgage, you need to create a sales funnel that works in the market. You need to focus on the pinpoints of your customers and design your sales funnel as per them to get good leads for your business.
You need to prepare a verified audience list and you can do a people search using available platforms in the market.
You should also have various tools in place for each stage of the funnel, such as lead generation tools and automation tools that can improve your nurturing techniques and help you convert better through the sales funnel.
As a growing business, you are constantly involved with customer acquisition. However, it is equally important to focus on your existing customers.
We all know it is hard to acquire a new customer; but, what is more challenging is retaining that customer in your business.
There are several ways to retain customers:
A well-designed loyalty program can quickly help you retain your customers and can pave the way to seeing growth in your small business.
With a loyalty program, you can expect the customer lifetime value (CLV) to rise and these loyal customers may even help you get more customers from their social circles.
With a solid program, you can get customers to spend again and again to improve your bottom line.
Amazon Prime, for example, is one such loyalty program that keeps customers loyal to the ecommerce platform.
Image via Amazon
You need to stay on top of your customer's minds to remain relevant. Sending out personalized communication via emails, SMS, or any other medium can regularly help you connect with them.
Sending a personalized product recommendation email to your repeat customer segment is an example of email personalization. Similarly, if you offer periodic discounts (to the segment that loves deals), it’d help you drive sales too. To generate unique and compelling content for your campaigns, tools like Planable AI can be quite helpful.
Sales CRM tools can also help you to generate good sales leads.
You can leverage the best sales CRM tools to integrate with your marketing campaigns and design an effective communication strategy to generate good sales leads for your business.
For instance, note how Grammarly sends personalized emails to its customers.
To send personalized emails, you need to manage your email list and segment your customers well. This would help you customize your emails for each segment well.
Who doesn't like it when treated well?
If you want to grow your small business, invest in customer service. Make sure you treat your customers as you would like to be treated. You can leverage the best virtual phone system to communicate with your customers to solve their queries in a detailed personalized manner.
You can include an auto-generated QR code facility for your authorized customers to access your services without any hassles. The codes can generate automatically when they subscribe or purchase your services. It saves your subscribers time and helps them to enter your service place.
Knowing your customer is a great way to grow your business. You can conduct both types of surveys offline and online survey. Offline surveys can conduct using an app installed on tablets, and phones while organizing events in offline stores such as retail stores, conferences, product launch events, etc.
On the basis of the feedback from your customers, you can make changes in your marketing strategy as well as product modifications if required.
Also, you can get vanity numbers for your local customers to provide quick costless customer support. Some customers don't like the pay while talking to customers care executive.
And guess what?
89% of consumers say they are more likely to make another purchase after a positive customer service experience. This would surely help power up your small business’s growth.
Image via Salesforce
Adding a chatbot to the website is a great way of achieving this. It will help with two-way communication and the visitors can easily get answers to their questions through it.
This can go a long way in helping you improve the customer experience. Apart from this, you can add a feedback form on your website to collect feedback from your visitors and customers. And if you really want to skyrocket your business growth, take time to read blogs by industry experts, attend a free coaching session, and attend webinars to learn their business secrets.
As a business owner, you need to connect with your customers regularly. Start by building your presence on several channels to make communication seamless. This covers entertainment, triathlon training, or any other topic that individuals have shown a keen interest in.
The idea is to be present wherever the customers are.
For example, if you have limited to no online presence, start by creating a website. You can install live chat software to your website to instantly reply to your customer's queries about your products and services. Follow it up with a social media presence. And when we are talking about building a strong online presence, you should also invest in online reputation management.
Depending on what your customers want and how you aim to showcase it, promotional or personalized emails can help connect better with them.
How you choose channels for communication depends on what your business needs are and where your customers are present. You need to analyze the audience before planning your media based on your growth goals and audience preferences.
Business insights are the building blocks of your marketing strategy. It all begins with you collecting the most relevant and real-time data using a top Google search API like Zutrix SERP tracking API search API. You should then invest in tools that can help you analyze the data you have collected and derive insights from them.
For example, email marketing tools will give you insights into the number of people opening the email, clicking on your CTA, and other details. This data can come in handy for your marketing decisions. Also, Building a sizeable email marketing list will also require a considerable amount of time, likely a year or more, along with continuous investment to expand the list and consistently provide valuable updates and insights to nurture it.
Through analytics, you can figure out who are your repeat, one-time, and fallen-off-the-grid customers. You can take action accordingly and personalize your strategies to get them back to your business. To expertize and optimize your sales lead data resources you can leverage Zooninfo and its alternative b2b tools. Gaurav Sharma- a digital marketing consultant at Attrock, prepared the best list for Zoominfo alternatives. You can choose anyone as per your requirement.
The data-driven insights can also directly impact your business decisions and improve them.
Partnerships are an excellent way to expand your customers base and grow your small business. However, knowing who you can partner with is difficult. Not every other business can be a good partner for your growth.
You need to make strategic partnerships with businesses from the same niche that share a common objective.
Partnering with them should help you grow your user base and connect with more people in the niche.
Lastly, both you and the partner company should have a symbiotic relationship.
So, how do partnerships help?
Say you are a PoS company with specific tools to help the retail business grow. You can partner with another company that offers store management solutions. The partnership can help you sell your products and services together.
When you partner with another business, you also gain access to their customer base, which helps you grow even further.
And if you need advice on how partnerships should be formed or if you want to register your partnership, consider getting in touch with a seasoned business formation firm like Northwest Registered Agent, who can guide you well.
Hiring employees can be tedious and expensive, especially if you are a growing business. With long-term growth plans in mind, you might want to invest in the right people who think alike and can visualize your goals.
Have a transparent hiring process.
Know what you want from your potential employees before you get started with hiring and design the hiring process accordingly.
Create a team member or ideal employee persona for your business outsourcing so that you know who would suit your organization the best.
Along with the right set of employees, you should also invest in collaborative tools and to boost their productivity and attain your goals. You can leverage an all-in-one software for your agency or business in project management, time tracking, billing, customer support, etc. to reduce your cost by purchasing subscriptions from multiple tools for your different business needs.
It is essential to keep diversifying your products and services to meet your growth goals.
For example, your core product may be digital marketing services. However, you can expand into the learning markets and offer educational material to help potential digital marketers.
You arrange your product/service information and can create the infographic, small video, marketing memes, and other visual files to represent your product in a visual way and share it with marketers to promote and educate them.
For this, you will need to find untapped potential or markets that can help you build your business. Once you have identified the need, it is essential to find the ideal product/service to offer the targeted audience.
Try to find a product/service in your niche as your brand is already likely well-known among your target market.
Lastly, it would help to create a business model for the diversified product to help you with your growth goals.
Recently, it acquired Backlinko to provide a powerful resource to its audience and to educate them on SEO-related topics.
Pro Tip: SEO is a powerful tool of digital marketing and it can help to generate online leads for small businesses. SEO is so important for small businesses and with the right SEO practices, entrepreneurs can boost their business ROI and growth together.
Affiliate marketing Content is a great way to see growth in your small business without spending a lot of your capital on marketing.
You can reach out to popular influencers and bloggers in your industry and ask them to promote your products/services on an affiliate basis.
For every successful sale that they generate, you can pay them a commission. This, in turn, would motivate the affiliates to perform even better as it can boost their commissions. Likewise, you’d benefit from greater sales and revenue too.
Bluehost, for example, leverages an affiliate program to grow its sales.
Image via Bluehost
Everything we previously discussed will no doubt help you see growth, but you can’t utilize these tips without appropriate funding. If you have a business plan and excellent credit, you can take out a loan or credit card with a low-interest rate. This gives you more flexibility with your funds.
But don’t stop there. If you want to maximize your growth, apply for an entrepreneur grant. Companies like Incfile offer two grants: the Young Entrepreneur Scholarship Grant and the Fresh Start Business Grant. Both can help aspiring entrepreneurs start or grow their businesses.
To grow your business to the next level, you need a solid plan. Adopting the right digital marketing tools and techniques can help you stay agile and flexible. At the same time, you should collaborate with your workforce to strategize your growth.
An integrated communication mix is apt for growing your customer base and improving revenue generation. You could also partner with other brands in your niche and understand your competition well to drive your growth.
So, what are you waiting for? Go ahead and try these strategies to grow your business.
The team at Social Hire never just do social media management.
The social media marketers in our company are the best in the business at helping our partners enhance their online marketing. We outline and implement cutting-edge social media marketing plans that help our customers realise their organisational objectives and further their social media presence. Our experienced team of digital experts do your social media strategy creation and management in an uncomplicated monthly plan that is cost-effective and is genuinely useful, whatever results you demand from your marketing team.
Our team of managers are a team that assists our partners improve their presence online by producing online marketing services on a regular basis. Our service is transparent and economical, which ensures that you get a great service and results that make a difference when you utilise our services. We arrange many different marketing services for enterprises from small businesses to large corporations to help make the most of of your company's social media marketing.
You might like these blog posts Steps For Making The Perfect Video For Your Small Business, How to Market Your New Business...For Free!, Small Business Marketing - How To Generate Leads Using Social Media?, and GDPR: An Opportunity to be Embraced..