10 tips small business owners can adopt to ensure continued growth
During times of crisis your continued business growth is dependant on many factors including collaboration, improved marketing, customer service as well as innovative strategies. Here are some useful tips you could introduce into your business that are quick and easy to implement.
1. Improved customer service
Businesses with good customer service retain their clients as well as attract ones. Word-of-mouth is the most powerful marketing tool. Even if you think you’re already providing good service, make it a priority to provide refresher training to front-line staff. This should be the highlight of your regular team meetings to ensure any issues are quickly resolved before they become major problems.
2. Promote new product lines
Even if you have multiple products selling well, be on the lookout for new opportunities to expand your product lines in order to satisfy customer demand. If you’re unsure how well a product will sell, start with a small amount first. Just remember to update your marketing material to let customers know about your new offerings.
3. Revitalise your marketing
Holding on to old, outdated marketing material can make your business appear out of touch or even unprofessional. Review your marketing material at least every 12 months. If you’re on a limited budget, focus on producing basic material that is stylish yet functional.
4. Introduce new ideas
Keep a lookout of great ideas, or new ways of working, look at what your competitors are doing and think about how you could adapt some of this in your own business. Research the latest trends in your industry, subscribe to industry publications, attend conferences and keep up-to-date with your competitors’ websites.
5. Collaborate with other businesses
Joining up with other like businesses to promote a special deal or offering is a great way to get your business noticed and into new markets with new opportunities. Another option could be getting your business listed on another business’s website, or in an industry directory.
6. Plan your marketing ideas
Before you implement a marketing campaign, test it on a limited basis and fine tune it before a full-scale roll-out. The easiest way to do this is to target selective customers and see if you receive a response. Ask your best customers for feedback before implementing any marketing ideas.
7. Regular customer interaction
Keep a record of client names and details for future marketing material or special offers. Starting up an e-newsletter is also a good way of keeping in touch with clients – just make sure you have their permission before hitting the send button.
8. Consider expansion and reach
Review your current premises will meet your needs over the next five years. If you’re looking to target new customers, will your current location appeal to your new target market? Keep an eye out for competitively priced lease arrangements, or deals on neighbouring properties that could enable you to expand.
9. Guarantee your products and services
If you want to build future sales through repeat customers, you need to make it clear that you stand behind your offering. A good start is to offer a money-back guarantee for any product sold, or to back up big sales with after-sales support.
10. Listen to your customers
Ask for feedback and reviews. Take any feedback from customers seriously and make an effort to thank them for sharing their thoughts – even if they are raising concerns or making a complaint. If you have a regular customer who isn’t happy with a new marketing strategy or product line, listen to what they have to say – there’s a chance that other customers might share their concerns.
Don’t resist change, adapting and evolving or trying new ways of generating growth as your business depends on this if you are to stay in business. By considering all or some of the above tips you can only enhance and grow your overall product or service.
Do reach out if you require help with identifying the right strategies for your business.