Statistics show that small and medium-size businesses are the biggest drivers of global economic growth, as more than 90% of all businesses consist of smaller ones. This means that small businesses do have a big potential to grow and play a huge role in global economics.
Competition can be quite fierce in certain industries. However, if you are set on pursuing an idea, there are ways to increase the odds of success. For instance, one can gain competitive edge by conducting a SWOT Analysis as it will help you define the most essential things about your brand and business.
After you are done with your SWOT analysis, there are many other beneficial things you can do for your small business to grow faster. Here we will share some tips about social media, Google Analytics, creating customer loyalty, and some other factors that might help you grow your business.
1- Social Media
There are many mistakes that need to be avoided when starting a business, one of them being not present on social media. Especially if you run an online business. If you don’t use social media to reach your audience, you might just cut a huge amount of potential traffic and organic reach.
Social media is great for many factors that will help you grow your business. First of all, it gives you a chance to reach and connect to a big amount of your audience. Having your business profiles on social media platforms is very important for search engines as well. Simply said – the more present you are on the internet, the easier it is for people and search engines like Google to find you.
Secondly, these social media platforms are ideal for communication, both visual and verbal, and sharing your content, building brand awareness. Here you can share your values, your product or service reviews, explain how to adapt specific products in different spheres, organize all kinds of contests, discussions, live videos, and so on.
2- Improve Your SEO Game
Google Analytics plays a very important role in your entire SEO. It helps you track and define the behavior of your potential customers and lets you decide what improvements you should initiate in order to grow the number of leads or the amount of traffic on your website.
Also, don’t forget to use Google Adwords to experiment with different keywords and advertising campaigns. If possible, definitely try out the possibility to create video advertising campaigns that will show up during YouTube videos. We live in a very visual world, so it is a great chance to reach a way bigger audience.
Another thing you should remember is to always try out something new. Define if your business is seasonal – is there a specific time of the year that your sales experience ups or downs? Depending on that, experiment and change up your keywords and ad campaigns depending on the season.
Firstly, it can make your brand, your products or services show itself in a completely different light. You can define yourself as a real professional in your field, even become an influencer whose opinion is interesting to your target audience. This way, you open a window for new opportunities – depending on what articles you will post, you can express various ideas of business development.
Secondly, a blog is always good for your SEO ranking. All you need to do is to consistently create quality content that is relevant to your field and always remember to use keywords that you consider to be the most important for your business.
4- Loyalty Program
Statistically speaking, a loyal customer is always considered to be more valuable to a company than trying to win over a new customer. But there’s more logic to it. The best thing about a loyal customer is consistent sales. But there is a much more positive outcome for a customer who has a positive point of view about you and your business.
A positive experience and relationship between you and a loyal customer can create valuable recommendations. Which can later on lead to even more loyal customers, new sales, and new business development opportunities.
More to it, it’s a good idea to ask your clients to write reviews or share video testimonials. Reviews are very important nowadays because it shows how trustworthy you are, how transparent your business is and what quality are your services or products.
About Author: Chris Fraser
Chris has served as a business advisor to a big list of small and micro businesses; localized businesses and social enterprise in particular. Chris is also an avid reader and loves to stay updated about latest tech and innovation.