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5 Proven Ways to Grow Your Business

By Sabrina Loh

Getting your business off the ground is no easy feat. Scaling it to the next level is just as difficult.

No matter what type of business you run, there is no one size fits all strategy. It’s an ongoing process that requires hard work, consistency, patience, and perseverance.

There are, however, proven ways to take your business to the next level.

Here’s how to do it.

Hire the right people

Your employees represent every facet of your business to your clients and the company image. Although it can be tempting to fill open positions, especially when you’re desperate for help, hiring the wrong people can cost you more money in the long run.

When you hire the right person for the job, they’re more likely to catch on more quickly to their responsibilities and stay loyal to the company and its mission. Remember that time is money, and you’ll save time and money hiring the right candidate from the very beginning.

If you can, be patient and wait for the right person to come along or your business may suffer for it.

Harness the power of social media

Social media has forever revolutionised the way brands market themselves. It’s an excellent opportunity for brands to tell their story, engage with their customers in real-time, and keep audiences updated.

Engaging on social media also lets brands build trust with their audience and build an active community around their brand. If your company is not on social media yet, you’re missing out!

Build your blog

Just like social media, your blog is a golden opportunity for your business to shine. Considering that 81% of shoppers do research online before they make a purchase, good blog posts can drive traffic to your website and conduct that traffic into leads.

Blogging is also an excellent way to showcase your business’s knowledge to build authority and trust. Combined with great SEO, it gets your site listed in Google’s search results, driving more traffic to your website.

Give people content that they want to see, and they’ll find you when they go looking.

Increase customer retention

It costs five times more money to acquire a new customer than it does to sell something to an existing one. It takes a lot to earn a customer’s loyalty, but once you do, you’ll keep them coming back for more.

First impressions are everything, so make sure your customer has a smooth experience from the moment they visit your website until the end. If they had a positive experience, they’re more likely to return.

It’s also important to get feedback from your customers on how they like or dislike, so you can refine your approach and better meet their needs. Social media is a great way to get feedback and engage with your customers, such as by running polls.

You should also reward your customers for sticking around, or they will be more likely to jump ship. Consider setting up a loyalty program or member-only sales to keep them coming back.

Form strategic partnerships

Joining forces with another business can give you the chance to reach a wider network of customers and turn them into leads.

An example of a successful strategic partnership are with Uber and Spotify to create a ‘soundtrack for your ride’. When riders are waiting for their Uber ride, they’re prompted to connect to Spotify and become the DJ of their own trip.

Although these are two companies with very different products, they worked together strategically to achieve the same goal of acquiring new users.

The Bottom Line

Growing your business to the next level doesn’t happen overnight, but with effective planning and the willingness to get creative and test different strategies, it’ll happen all in good time.

Just make sure to measure your results and make sure it all aligns with your business budget.

For more guides like this, tune into the BigPay blog every week.

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