What’s the secret to growing a better business online? Some would say it’s a customer-centric approach, others would highlight the power of marketing, and still there are some who believe it’s all about establishing a credible image in the industry.
Whatever online experts believe the “right” way to success is – in the end – it all boils down to how you can make it work for you. The truth is: every business needs its own unique and personalized approach, the challenge lies into finding the right strategy early on to hasten your success.
Here are a few marketing tips that you’ll find essential on your journey to growing your business:
1. Start Cross-Promoting with a Partner
There are many ways to market your business without stretching your budget; one of these is by cross promotion. Cross promotion is all about teaming up with other business in your related industry to create alliances that benefit consumers.
The process works so that two business working together benefit from each other whilst promoting a product or service. For example, if business 1 sells cosmetic products, they can redirect their customers to business 2 which is a salon or spa for a discount. This isn’t like partnering with a competition because you’re actually joining forces to reach a wider audience. Think of this as ‘mutual marketing’ where the results are always fast and beneficial.
2. Create a Business Website
They say once you’ve setup your business’ website, you’re already halfway to success. Websites are like land you rent online, a land you can use to host all of your other marketing activities to attract potential customers.
Once you’ve established your own site you can attract opportunities and a global audience of customers, leads, and investors who might be interested in your business. There are many kinds of websites available today. Learning types of websites will allow you to decide which ones is right for your business – while understanding how websites work will allow you to make smart decisions later on. You can use your website to grow your business in the following ways:
- present a professional image
- increase traffic
- build your email list
- share your expertise
- sell your own goods.
Creating your starter website is never a big investment. There are lots of do-it-yourself web sites you can get for less than 30$ and if you got the budget you can also ask help of a web builder to create a more personalized one for around $300 to $1000.
3. Consider an Influencer Marketing Program
With the rise of social media and social platforms like Twitter, Instagram, and Facebook, many businesses are using influencers to help their brands grow. They are called influencers simply because much of their online behavior affects people’s decisions. Starting from what they wear, say, or do, influencers are responsible for all the fads we’ve all been guilty of following.
Most of these influencers are hired to help promote and spread the message of the business. And unlike expensive and generic TV ads, influencers are able to lure in more passionate audiences. The best way an influencer helps is through communicating with the consumers. Using their blogs and social media, influencers can inform their followers and communities online about the business while people can actively take part in the conversation and share their thoughts.
4. Diversify Your Product /Service
Nothing is permanent in the business world except for change. Small business owners know this best – and to succeed they must learn how to transform their business to cater their ever-growing and evolving consumers. Diversification is defined as a technique to reduce risk by allocating investments among other industry or categories other than your current market.
There are many ways to diversify your business. Susan Solovic, master entrepreneur and author of the New York Times seller book “It’s Your Biz” mentions eight strategies to diversify your small business in her blog. These include:
- Adapting or tweaking your product or service so it could be of use to a different group of consumers.
- Finding related products that go well with your business.
- Offering an integrated solution.
- Being updated with the current trend and basically “finding out what’s next”
- Selling online
- Opening on to another location which you haven’t considered before.
- Going overseas to launch or network.
- Following the growth pattern by looking over tax growth in the areas of your state.
With a smart plan of action, small business owners can grow their business by diversifying their products. Even if it might take up a huge sum in your finances, it will be a good investment that will reward your company in the long run.
Despite having a bunch of employees, running a business can keep your hands full all the time. Soon you’ll find yourself starved for time for yourself or your family. Outsourcing is a great way to find time and ensure that your business grows according to plan. By bringing in workers who can help you accomplish mundane tasks that take up your valuable working hours including managing your emails, invoicing, or scheduling, you can free up your time to do real work and grow your business.
Outsourcing also allows you to create a talent pool of people you can’t afford to hire full time but you can call when you need them the most. Many businesses today hire freelancers to work for them instead of a 9-5 employee. Outsourcing saves them costs of hiring full-time employees like payroll taxes, liability insurances and medical benefits.