By: Emma Ross
Growing your business takes a considerable amount of work and pinpointing where to begin can be a challenge in and of itself. Whether your business has boomed and you need to expand to meet demand, or sales have stagnated and you are looking to tap into a new market, PA CareerLink® has the scoop on how to start growing your business!
Before you start expanding, you need to decide if it makes sense to grow your business right now and, if so, by how much. Ask yourself the following questions:
- Are you unable to meet your current demand?/Do your customers want more?
- Are you in a growing industry?
- Have you had steady growth in profits over an extended period of time?
These questions will help you examine your place within the larger context of your industry. If you invest resources to grow before you are ready, it could end up forcing you to scale back later down the line. However, if you know it is time to grow, then keep reading to learn our 4 tips to take your brand to the next level!
1.Conduct a Consumer Audit: Knowledge is power! When you run a business, continuous learning about your customers is critical to your growth. Get to know who they are, what they want, and why they originally came to you. Tools like SurveyMonkey and Google Analytics are great resources to help you gather information. This is particularly helpful for B2B businesses. When you understand your clients’ long-term goals and how exactly you fit in with their plans, you can create a custom experience that will keep them coming back for more!
2.Supercharge Your Social Media: Social media is a great place to advertise yourself, but you can do much more on these platforms than post content. Known among marketing professionals as “social listening,” you can patrol these apps to learn what customers say about you online. Look for keywords your customers use as they post about you, and build a profile of what resonates within your brand’s community. Reflect this sentiment in your future posts and watch as your engagement soars! Use tools like IFTTT or Hootsuite to preplan your social media content. It is essential to stay organized and optimize your post time!
You can also use the internet to market in unique ways. Affiliate marketing uses a third-party seller who takes a small percentage of the sale. This can be a great option if you are in the position to expand, but do not have the means to hire additional staff.
3.Evaluate Your Customer Service. Chances are if you are ready to expand, you already offer superior customer service. Reflect on what you already do for your existing customers so that you can go the extra mile. You might try and communicate with them through a newsletter or create a rewards program. Host events they can attend and invite friends who may become new customers in the future. You can also go back to basics and find ways to streamline your services. Upgrade your wifi and website to make a smoother customer experience. Get organized with an app like Calendly or Asana to avoid missing orders or over-scheduling yourself.
4.Become a Community Player. Building relationships in your community is essential to sustainable growth. Get involved in your local area and become a sponsor or participate in charitable events. By becoming a recognizable face within your area, you can entice potential customers to stop by during business hours. You can also build partnerships with other neighboring businesses to expand your customer reach. Attend networking events or host your own to meet other industry players.
PA CareerLink® offers employer webinars and events which are great places to learn more about how to grow your business and connect with other local employers! If you’re ready to expand your business, connect with your local PA CareerLink® office to learn more about hosting a hiring event, becoming one of our “featured employers,” and accessing the latest labor market data!