Growth doesn’t happen overnight. It’s a long process of bringing your vision to life and then marketing it to the public. In a difficult market, entrepreneurs might think that growth is impossible. There are a few simple strategies that any business owner can use to help scale operations. Here are five powerful tips for growing your business in the new year.
Build Brand Awareness
Brand awareness is all about recognition. To what extent do customers equate your company’s name with the service it offers? If someone gets hurt, they ask for a Band-Aid, not a bandage. The best thing to offer is a clear point of difference. Your company should be offering a level of quality and/or uniqueness that nobody else brings to the table. Be sure to make your iconography just as special by leveraging color psychology and distinctive text to convey the feel of your brand.
It’s equally important for owners to make themselves recognizable. Everyone associates slick new iPhones with Steve Jobs. Live out your company vision and tie that image to your business. Just look up “Wikipedia for CEOs” to get ideas for making your name an official part of the web. Every company is just as unique as its owner.
Network With Other Businesses
One of the best ways to get your name out there is to network with other companies in your industry. This can be as simple as going to your town’s chamber of commerce. Go to their events and meetings and start shaking hands. Virtual meetups and social media sites like LinkedIn can be a great way to connect, but low-tech options like handing out business cards are also effective ways of staking your claim in the market.
Another strategy currently gaining popularity is influencer marketing. According to the Edelman Trust Barometer report in 2019, 63% of respondents said they trusted the word of influencers over that of brands themselves, so consider making influencer partnerships part of your strategy this year.
Get an Internet Makeover
In an age dominated by digital marketing and e-commerce, having a solid internet presence is critical to success. This means having both a landing page and social media presence that look timely and relevant. Customers will be quickly turned off by a flashy and annoying website. They’ll also stop coming around if you don’t post consistent updates of your web content.
It’s also important to reach out across many channels simultaneously. Multichannel marketing is all about sending the same message across several different communication channels at once. Omnichannel marketing goes further, tailoring the message to the medium to maximize impact. Both methods are useful for showcasing new products and offers to a diverse customer base.
Be Responsive to Customers
Many businesses fail to thrive because they give customers what they think they should have, not what they want. One consistent complaint from consumers over the past few years has been a lack of attention to customer service. Support is often farmed out to chatbots and call centers by companies looking to save money. Both can be useful, but they shouldn’t be a customer’s only option.
A TCN study conducted by OnePoll last year discovered that 42% of customers who had a bad experience posted about it online. That same research found that 55% viewed ease of access to a live agent as the most important feature of any customer service. Phone, email, and live chat topped the list of preferred channels, so prioritize the human touch in your customer service experience.
Hire the Best Employees
Strong businesses are built by strong teams. What does it mean to be a “good quality” employee? The old answer was someone with years of technical experience and a degree from an elite school. In reality, technical skills can often be improved on the job with a decent training regimen. The “soft skills” like personal honor, team-building, critical thinking, and a willingness to learn are statistically better predictors of success, especially in terms of retention. Employees who are invested in the company’s vision and culture are more likely to stick around, helping to blunt the costly effects of turnover.
There’s no perfect formula for success. It’s the outcome of all the good choices a business owner makes. Consider these tips when planning your growth strategy this quarter and beyond.