Surely you have heard the saying that says: “if your business is not growing, it is dying.”
It may sound a bit trite to you and you do not give it enough importance, but honestly, we have been able to get to know many businesses up close, there is nothing more true than this.
In business, as in life itself, if you are not growing, you are dying.
Take for example your home garden, or a park, look at the trees, see that they simply cannot stop growing, because if they do, they begin to die. You have to think of your business the same way, grow or die. And since dying is not exactly the best option, let’s focus on growing your business .
Know these 5 strategies to grow your business
1. Increase your prices
As simple as that. If you haven’t raised prices for the beginning of the year, what are you waiting for? Most business owners, when I recommend this strategy to them , “scream in the sky” and are afraid to do so, but the reality is that very few customers will complain about the increase in price, and even the vast majority will not even you will even notice. Those who will complain, surely, were already complaining about your prices . Try it if you want on a certain group of products and you will see how your business grows.
2. Sell in bundle
This strategy is also known as the Big Mac strategy. Who of you has not gone to McDonalds, ordered a hamburger, Big Mac for example, and came out with giant potatoes, a drink that surely you are not going to finish it and an ice cream cone? in the hand? Well it is just what we have to learn as business owners from McDonalds systems.
See what you can add to your product or service so you can charge a little more, or think about how to package your services or products , so that people buy more from you every time they do business with you .
3. Recover your accounts receivable
I know this strategy is not exactly one for business growth, but there are many companies that do not have a portfolio recovery system running consistently . Find a CRM system so that letters are sent, calls are made, emails are sent, etc., so that your clients pay you in a timely manner.
4. Send a newsletter or newsletter by mail
Send, preferably every week, a piece with a lot of valuable content to your clients. People love to hear about businesses we’ve received great treatment from, so make sure you stay present, sending them relevant news and information , and why not, asking them to come back through offers that you can include in your newsletter.
5. Invest in social media advertising
Although the use of social networks does not represent any cost, it is necessary to invest frequently in social advertising or in advertising on social networks .
A recent study indicated that people who use social networks spend an average of 37 minutes a day on Facebook, Twitter or LinkedIn, which makes it a highly attractive market.
And, what is the main problem for SMEs to start using social networks to place paid ads? That most social networks use terminologies and options to make ads that are not entirely clear.
For example: do you know the difference between a sponsored Facebook post and a sponsored story? Many business owners do not know it and these are some of the questions that appear, but it is not possible to have all the answers to the questions, so you and your team also have to constantly train to learn how to apply the most appropriate way of take advantage of the investment in advertising on social networks.
The main points to consider before launching a sponsored social media campaign are:
- Set measurable marketing goals .
- Determine your budget.
- Know the needs of your audience.
- Choose the best channel (Facebook, YouTube, LinkedIn, Twitter, etc.).
- Research the different types of ads you can run (how they work, how to use them more efficiently, etc).
- See what the competition is doing .
- Optimize your landing or landing pages.
- Test and measure different ad copy.
These 5 strategies are key to growing your business, try them and see how your business begins to grow!