Growing your business is a tough job, particularly when you want to reach new milestones early into 2019. It requires a lot in the way of resources and planned strategy. Entrepreneurs are forced to learn new market tools with spot-on accuracy. They are forced to crawl out of their comfort zone faster than their minds can process, this includes handling customers, understanding taxes and HR law for employees, and growing the business itself.
The growing uncertainty in the world of business further fogs the mind BREXIT for example, taking a toll on business owners. The good news is that there are several ways to grow your business. Let’s discuss four ways you can grow your business.
1) Understanding What Worked and What Didn’t
It is a good idea to brainstorm a list of tools and services that worked well for your business. Assess all client projects that went smoothly, analysing why they were so successful when compared to the ones that failed. Everything from social media posts to blogs to YouTube videos to outsourced services, you need to get the secret sauce right to repeat it with clients.
Also note down possible reasons why failed projects didn’t work out for you in the past year. Small issues such as poor choice of software, lapses in accounting, missing out on customer details, incorrect bookkeeping, and other details should be taken into account.
Doing everything yourself at this point is hard. There are other processes you need to focus your resources on, including product development, market research, and lead generation among other things. Add answering phone calls at unexpected times during the day to the list, and you have yourself an uphill battle.
To scale your business quickly, you need a long list of clients. And nothing satisfies your clients more than having a comforting, soothing voice on the phone guiding them every step of the way. It is important to choose your answering service wisely. Learn more about good features of a telephone answering service here.
3) Creating a Customer Loyalty Program
Even though their name suggests otherwise, loyalty programs are ironically a cost-effective way to increase sales. You want to tap into the market potential that comes with utilising repeat business. It can cost up to five times more to acquire new business than to keep an existing one. This means spending an extra few dollars to keep your customer happy is going to pay out in the long run.
You get repeat business and word of mouth advertisement. New businesses springing up are utilising social media to encourage customers to write raving reviews in exchange for discounts .This marketing strategy is tried and tested, and will work.
4) Strategic Partnerships
Making the right connections with the right businesses can make a difference. It opens up a world of opportunities for lead generation, and this works both ways. The best way to see if this works is by contacting companies that are complementary to your own. Find a compatible business and reach out to them, you never know if you strike gold in the process.