If you’re not growing then you’re dying, whether or not your business is online or on ground. The term ‘adapt or die’ has never been more prevalent than it has now. Doing the same things year over year in the hopes of being profitable won’t happen; you need to take decisive actions to grow your revenue. Your competition grows at an ever-increasing rate, so now is the time to get more aggressive in growing your company. If you want your year to be the best yet, your top focus needs to be on growth. The ten tips below used in your growth strategy will help your revenues soar.
You can start networking more, looking at those groups that could likely send you some business. Look for those groups that have members that match your ideal client, or have access to that ideal client. What other industries are connected to your business? You may find clients there, or really good referral sources. The more people you can expose your business to the better, however, make sure it’s the right ones.
What marketing tools are working now? Facebook or Twitter may be working now, however, you may want to look at other customer engagement ideas such as live streaming or audio broadcasts. Where is your audience now? That is probably where you should be. There’s many different ways to connect with customers, and you need to be willing to try what resonates with them.
Is your inventory getting stale? Do you have items that rarely sell? May be time to get rid of that old inventory. What are the trends happening in your market sector? What could you incorporate into your inventory? Look at finding global suppliers to explore new products, or modifying the ones you already sell.
What’s your Search Engine Optimization (SEO) strategy? Do you have one? Could be time to revisit now. SEO is a lot different than just a couple of years ago, however, you should be looking at it. Figure out if there’s any new keywords you should be using, develop a blogging strategy using those keywords. If you’re on YouTube, then you need an SEO plan for that too. Look at your competitors, and see what keywords they’re using. SEO is an ongoing process, so make this the year you focus on ranking higher on Google; maybe look at Bing too.
What’s your holiday marketing strategy for this year? Are you planning one? You should be planning well before the actual holiday; don’t think about your Valentine’s marketing at the beginning of February. Your Summer sales push should be created well before the hot weather starts. Believe it or not, but your Christmas marketing strategies should be started in July or August. Commit to becoming a masterful marketer this year by developing your seasonal strategies well ahead.
Beat Your Sales Each Month
Pledge to beat your prior month’s sales every month. What contributed to that growth? Whatever that was, do everything you can to beat those sales figures. That could be anything from boosting your presence on social media, to growing your blogging, to commenting on blogs related to your market, or being helpful on forums where your ideal client resides.
What are you doing for email marketing now? It’s probably time to increase those efforts. Shoot to grow your subscriber list by at least ten percent each month. If you have an email newsletter, promote that more, add curated content to boost engagement rates, and enhance your visuals with video and custom brand marketing images. Have your existing subscribers share your email newsletter with their social networks for increased enrollment of new subscribers.
Client Acquisition Strategy
Where does your ideal client hang out online? Wherever that is, that’s where you should be building a presence. Where does your client go to network or hang out? Look at offline occasions to connect with your ideal client, and ensure to actively engage at events where those ideal clients are. Sales don’t happen by magic; a client acquisition strategy can make it seem so though.
Feedback is very important from your customers, and one way is to offer an anonymous survey. What do they like about your business? What do they think you can do better? Are the most common questions to ask. Your customers may just surprise you with their insightful comments, and you could uncover some great business-building ideas too. Of course, you’d better be ready for some brutal honesty.
Multiple Streams of Income
How many streams of income do you have now? Some of the most successful entrepreneurs have 5 to 7 of them. Rather than depending on your existing income streams, maybe offer a course on Udemy, sell your products, or new products, on Gumroad or Amazon. You have a good chance of increasing your profits continuously, if you are agreeable to getting creative in your approach to revenue generation.
Business growth is a constant battle, and takes careful planning. Those sales aren’t going to magically appear no matter how much you wish. If you want a better balance sheet when 2018 rolls around, you need to be proactive. The above ten tips should be incorporated into your growth initiative to ensure your business grows bigger, and the profits increase.