You had a vision and you turned it into a successful business. However, now you find that your business is not growing. If this sounds like your business, you are not alone. There are nearly 30 million small businesses across the states, and most will not grow to their full potential. While money is in many cases a factor, moving beyond the small business status requires a combination of good marketing skills and excellent customer service.
Financial Pitfalls
Every small business owner will tell you that they need more money in their budget to advance to the next level. However, it’s kind of a catch 22. In order to acquire more money you have to increase your sales and in order to achieve this you have to have money to launch a successful marketing campaign.
Borrowing Small Amounts of Capital
A small business owner can borrow smaller amounts of money to stretch their budget from either a co-partner, who remains silent or from unexpected places such as an online lender. Click here to find out more about their lending practices that might be less stringent than a traditional bank.
Making Use of Marketing for Less
A successful marketing campaign doesn’t have to break the bank. In fact, you can use a combination of old tried and proven methods, as well as new sources to get the word out. Email marketing is highly cost-effective for just about any size business, and mailing letters or postcards still provides a worthwhile percentage of prospects. Social media is the new craze where you can gain exposure rapidly and for much less than you may think. Sites like Twitter and Facebook attract millions of viewers daily.
A User-Friendly and Engaging Website
Let’s face it boring sites lead users to an early departure. However, if you have a website with a comprehensive history of where you come from and your goals, and then add something like a whiteboard animated video to talk about your services or product, you will engage the viewer. Websites are common, and making yours stand out for the right reasons will help you increase sales.
Staying True to Your Base
Many business owners still disregard their existing customers as a means to increase their sales. Customer loyalty is a valuable asset that you earn. Existing customers prove time and time again that they are highly beneficial in improving or discrediting your business. If your customers like your product or services offered they will tell a family member or a friend. If you include them in your marketing campaign and offer them a small monetary finder’s fee, you’ll see your sales jump quickly.
Importance of Quality Employees
Many people work just to pay the bills. However, if you can tap into what makes them tick and make them feel like part of the team, you can count on excellent service. One way to achieve this is to offer bonuses monthly for the number of new clients. You should also let your staff know that they play a vital role in your continued success. Hosting annual sponsored events like company picnics will give them the incentive to work hard throughout the year.
Keep One Leg Up
Of course, it goes without saying that you will have competition. In order to be successful and corner the market in your area, you must remain one step ahead of your competition. Find out what they do and the services they provide and then one-up them, to give your business the upper hand.
Nearly 50% of all small businesses won’t make it past the first 5 years. In order to remain unaffected by the statistics, it’s important to launch a stellar marketing campaign, hold your existing customers in high regard, make your employees feel a part of the business success and know your competition.
