The early days of growing your small business play a crucial role in your future success. At this stage, it’s important to make as much progress as possible (without biting off more than your business can chew, of course).
That’s why all small business owners should keep the following “growth hacks” in mind. These long term growth strategies for your business will help you achieve your goals efficiently, allowing for sustained growth during this essential stage.
Make a Specific Plan
This may sound simple, but it’s in fact a very useful piece of advice. After all, every small business owner wants to “grow.” Not all small business owners take the time to define specifically what that means.
Don’t make this mistake. Determining the specific goals you want to achieve (and how quickly you would like to achieve them) will boost your odds of success by providing you with a greater sense of focus.
Consider What You Can Automate
Small business owners typically wear many hats during the early stages of growth. You may be your own marketer, accountant, customer service representative, and much more.
Trying to address all the tasks on your plate will of course use up a substantial amount of your valuable time. Thus, it’s a good idea to list all the tasks you perform, and consider which can be automated with technology. For example, if you have a social media presence, you can use social media marketing automation tools to schedule your posts ahead of time. There are some really good small business tools out there that get the job done and won’t break the bank as well.
Let Users Generate Marketing Content
Generating marketing content is of course much easier when someone else does it for you. Luckily, encouraging your customers to create UGC, or User Generated Content, can be much simpler than you assume.
For example, perhaps your business sells kitchen tools. You can hold an Instagram contest in which customers post pictures of meals they made with one of your products, using a relevant hashtag to ensure their followers associate the pictures with your brand. The prize you award the winner will likely be worth less than the value of that kind of free advertising.
Consider Artificial Intelligence
Artificial intelligence can help you streamline many business tasks. An example would be an AI chatbot that handles basic customer service questions. You might also use AI to more efficiently assess engagement across your marketing campaigns.
Your digital marketing strategy will play an essential role in your business’ growth potential. Regardless of how dedicated you are to running a strong business, you need to ensure people know it exists if you want to succeed.
That’s why regularly monitoring engagement with your digital marketing content is a must. By knowing what types of content resonate most with your audience, you’ll know what types of content to prioritize.
Fund Your Business Properly
Before focusing on growing your business, it’s a good idea to review your plans and determine how much money you expect to need to achieve certain milestones. Once you have, make every attempt to secure all necessary funding. Your business will simply grow much more efficiently if you have the money to cover key expenses.
Prioritize the Customer Experience
You need to understand what today’s customers seek from businesses to ensure yours grows at a steady pace. For example, to an increasing degree in recent years, statistics indicate customers may favor a positive experience over a low price.
Offering affordable products and services is of course important. You don’t want to scare customers away with high costs. That said, your main focus should be on ensuring your customers are thoroughly satisfied with the experience your brand delivers.
Remember these points during these critical stages of early growth. Apply them properly, and you’ll be more likely to achieve your goals sooner rather than later.