June 21st marks the start of International Small Business week. We love International Small Business Week (also referred to as Small Business Saturday) as it is a great time to explore resources and tools that enable growth within your small business.
Google Canada is celebrating small business week by sharing resources and guides to help the success of your enterprise. The new Grow With Google project is aimed at providing access to the best tools and resources for small and midsized businesses to reach their goals.
Yocale is celebrating SBW by outlining 5 top growth strategies to help your small business construct strategic growth. With many Covid-19 restrictions now lifted in British Columbia, it is the greatest opportunity to support your favourite small businesses and celebrate their positive impact on our community.
Enable Strategic Growth
How can I seize growth opportunities and gain a competitive advantage? Consider these top 5 tactics to grow your small enterprise:
- No quality or service compromise
- Concentrate on market adaptability
- Retain existing customers, captivate new ones
- Use advanced technology such an an all inclusive scheduling software
- Content Strategy and SEO
A growth strategy allows your small business to grow, fast. Growth can be accomplished by activities such as introducing your business to new vicinities, investing in consumer recruitment or acquisition, or extending a product line portfolio. Strategize, consider the solutions available, and integrate them into your business plan. Your growth objectives should entail a SWOT analysis and SMART goals to acquire a sustainable and long term planning.
5 Growth Strategies that Work
Speaking of growth, what gets measured gets improved. Understanding what’s happening behind the scenes when your shoppers make buying decisions is essential to obtain fast growth and customer loyalty. Our top international small business 2021 recommendation is to make of artificial intelligences like Google Analytics metrics to assimilate and grow the traffic on your website.
In order to expand your startup and build a reputation, consider the following strategies to speed up your small business growth:
No Quality or Service Compromises
Do not neglect to preserve the quality of your goods or services in order to grow your enterprise fast. Keep in mind that customer service and product quality are also equally critical for every business. Deterioration of price will most likely produce negative feedback and won’t take your customers long to find an alternative. Instead, research your strongest competitor to comprehend their competitive advantage and shortcomings. Then, set SMART goals and create your own dominance. In this situation, consumer reviews that positively express product quality or customer service are beneficial.
Concentrate on Market Adaptability
Your startup should have a well-planned marketing approach and customer acquisition model. However, stay vigilant of trends within your market and slightly modify the strategy as you go. You must realize that time plays a significant role in advertising and what’s considered a hot commodity today, could diminish tomorrow. Do your due diligence and consider new opportunities for growth.
Retain Existing Customers, Captivate New Ones
The number of customers rises every day as your business increases and the best approach is taking care of your current and loyal clientele while hunting for new ones. Your products or services are already tested by your existing customers and therefore, retaining them is the most cost and time effective. Engaging with customers through social media, sending birthday email and offering deals and promotions will create customer loyalty. Consider an online booking platform that create recurring appointments and turn customers into regulars. Understanding demographics, target market interests, how they found you, and the services in high demand will lead you one step closer to growing your startup . By syncing a booking widget with Google Analytics capabilities on your website, you can analyze the behaviours of your target market and track conversion all in one spot.
Use Advanced Technology
Incorporating technology within your startup is a crucial resource as we’ve outlined above. For nearly every purpose, there is a software. In the segment “Retaining current clients, attracting new ones” we have provided one example of the use of technology and how an all in one solution software is an excellent start.
Content Strategy and SEO
It’s not surprising that 53 percent of advertisers are the leading inbound marketing firms in state blog entries. Corey Wainwright, a content marketing specialist, says that relevant and knowledge packed articles can lead traffic to your website, transform traffic into leads, build your industry ‘s authority, and produce long-term results. Considering that 81% of the buyers carry out online analysis, successful blog posts can add a lot of value to the strength of your search engine optimization. Potential clients can of course find your website after the online presence of your blog is created. These posts need daily updates only so that your investment can be better appreciated.
Business growth and expansion opportunities leads to evolution and help your small business gain a competitive advantage. In order to create a a strong business development strategy, apply the top five growth tactics outlined here and utilize metrics of Google Analytics to set goals and see growth conversions.
Your strategy should be specific and realistic based on your resources, your target audience’s needs, your vision for the company, and trends shaping the future of your industry.
Small Business Week is another reminder to examine and alter SB growth strategies while celebrating the entrepreneurs who have contribution to our economy.