A positive outlook is the first step to growth.
Many successful businesses, such as FedEx Corp., Microsoft Corp., CNN , GE and HP have started in a recession. Pre-existing companies can also make incredible gains when the economy is down. Some of the most recent success stories are those of Google, PayPal and Salesforce.com Inc. I am mentioning these success stories is to show you that no matter the circumstances, your business can succeed and grow.
So how can you grow your business in 4 weeks?
8 Ways Grow Your Business
Define your Target Market
Build Your Customer Base
Connect with your clients
Form Strategic Alliances
Network, Network, Network
Explore Marketing on the Internet
Define your target market – Every business owner should realize that in order to succeed, it must meet the needs and desires of the market in which it operates in. The market, which is made up of those individuals who seek those specific products or services, have demands and needs that if not met, will easily switch to a competitor if they are not satisfied immediately. Find out who your ideal customer is, market to them and fufill their needs.
Build your customer base – In your business, how many loyal customers do you have? Have others have actually come in and said, “So and so recommended you, what can you do for me?” If that number is zero, then you really need to pay attention. It isn’t that you are doing something wrong; it is more likely that you are just satisfactory in building a small business relationship with your clients. It is almost detrimental to your business, because word of mouth is free, and good things to say about your company leads to a larger client base.
Reward customers for bringing others into your client base. Provide your gratitude in the form of discounts, gifts, exclusive products and invitations to special events.
Connect with your clients – choosing to engage with the client can make a huge difference not only to keeping that person, but it can help you when creating marketing, which in turn leads to loyalty and a new customer base.
Aligning yourself with a similar type of business can be a powerful way to expand quickly. Strategic Alliances can be built among companies that service the same target market. For example, align with other businesses that already have lists of prospective customers. It’s the fastest way to success.
Networking is one of the most effective ways to meet people for mutual benefit. It is a low cost/ no cost way for you to market your business. One of the keys to networking is creating quality connections that are mutually beneficial and maintaining those relationships. Always remember to act as a resource to others.
Marketing online increases the visibility of your business. Having a website for your business is the first step. A website provides the prospect with an idea of who you are and what your business can provide. Blogging and writing articles about your services and providing value to your prospects and clients can only help increase awareness about your brand and increase your SEO (Search Engine Optimization). LinkedIn, Facebook, Twitter and Google are other resources which can provide your business with a platform for discussions and interactions with prospects and customers.
Last but not least – Diversify your products and services. Diversifying is an excellent growth strategy. You can provide complimentary products or services, educate others or become a speaker in your field. If you diversify you can provide additional streams of income to fill seasonal voids and increase sales and profits.
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