5 Ways to grow your business faster
Everyone wants to know the hidden secrets to a successful business… We are going to save you some research here–THERE ISN’T ONE! But, keep in mind that there are some proven methods that you can use to move your business forward. We are going to take a look at 5 ways you can turbocharge your business’ growth and set yourself up for success in the future.
Before we get started with these methods I am expecting you to have a few things done yourself before you utilize them. I am anticipating that you have done your market research and know the niche you are targeting, you have created a website (it just needs to exist and be indexable), you have some form of social media and you have at least one form that can collect data… somewhere. If you don't have these 4 basics set up, go do it immediately because it will help you drastically.
1. Build Your Funnels
Search funnels are your way to convert potential customers into paying customers. We suggest having 2-3 different funnels for search ads, retargeting, and affinity audiences. Understanding how to target potential customers correctly is a massive step forward to converting them to paying customers and growing your business. Since every business relies on new leads and information we also think it's critical to have forms easily available to gather information for the occasion when a visitor engages with your website but does not make a purchase. You now have information about them and a way to retarget them and move them down the funnel. Set this up properly the first time and you can let the funnels automate new leads for you. Remember, the goal of the funnel is to convert users to customers and gather information along the way.
2. Focus on Established Revenue Sources
Helping your family and friends to start out a portfolio or to get your brand name out there is fine, but your focus as a business owner needs to be “How do I get paying customers, and how do I keep them purchasing from me?” Once you get a customer and you know they like your products or services you should focus your energy on how to upsell them to other services or products you offer. Also, you can use referral discounts for sharing your business with friends to help increase your reach and create more sales. Your repeat and referral customers are your most powerful asset because their word carries more influence to their networks than any advertisement you can run.
3. Be Adaptive
You might the best business plan in the world, but a sudden trend or disrupter to the market can throw your best intentions offline. You have to be willing to take a few measured risks to change your strategy in both product development and company direction to help stay current with the market. We are not saying abandon your mantra or mission, but understand that markets are ever-evolving and that you have to be flexible in your approach to customers. The best example of being adaptive is in marketing with social media and staying current with trends and information. Make the trend yours and watch your influence grow.
4. Form Strategic Partnerships
These can be a great way to accelerate your business because you may fill a void in another company or vice-versa. Two businesses that are both in growth phases can team up to create a system that is beneficial to both parties and increase revenues for both individually. You can learn from your partner’s strengths and weaknesses and apply them to your business. Comparing your client acquisition funnels, sales pitches, and marketing can yield insight into why your business isn't growing as fast as you would like. Your partner may also have access to clients and customers that you had no way of finding before, so you can now cross-market to multiple audiences without having to exhaust resources yourself finding them.
5. Elevate Your Customer Experience
As is with every business, the customer is always right… Even when they are wrong. We now live in an instant age where social media can sink or explode a business in a matter of seconds and mentions. Your job as a business owner is to put out the fires when they show up and when you get those glowing, positive endorsements you put them on display. Business owners must adopt the mindset that their business is solving a customer's problem. Finding a way to market this solution to your customers in a way that doesn't feel pitchy, while offering great customer service will lead to frequent sales and a solid foundation to create repeat purchases.