Business Mentor: 8 business strategies for faster growth

Armando Bartolome

Posted at Jan 08 2022 08:50 AM

All entrepreneurs want to see massive growth in a short amount of time. However, it is easier said than done. Entrepreneurs need to target the right market to drive sales and potentially expand into a broader market.

While each business has its own way of quantifying success, the desired outcome rolls down to the same goal – increasing sales and profits. It is difficult to assume at the conception of a business that it can be successful in a few months. 

Nevertheless, there are proven strategies used by other brands that led their businesses to significant growth.

Here are some practical tips to help you expand your customer base and eventually increase your revenues.

1. Understand your customers’ needs by developing products and services that meet their requirements. You should focus on providing a variety of products and services that are highly in demand so that your customers no longer need to find their needs somewhere else.

2. Render high-quality products and services. Times are rough; thus, every penny counts. Customers may not mind paying for an expensive product or service for as long as it does matches expectations.

3. Provide exceptional customer service. Your business frontliners must be well-aware of how to properly treat every customer regardless of age, gender, or race. Similarly, all sales personnel should be aware of the features and benefits of all products offered. I have experienced one salesperson who was not fully aware of what the product was about. He had to ask a fellow worker about it. Customers will get turned off when such an incident happens.

4. Cultivate a great relationship with your customers. If you have noticed, some shops have started rolling out their loyalty programs through using loyalty cards which encourages customers to shop more and eventually save a lot from their purchases. Customers are inclined to shop when they know that perks are waiting for them after every purchase. Gaining the customer’s trust is very valuable.

5. Seek strategic partnerships. Some businesses have products and services which may complement other brands. When they join together, can create massive sales. For example, you own an Internet Café. Aside from allowing your customers to use the internet for whatever they need it for, your waiting customers or even just those there to relax can enjoy a good book or magazines that they can also purchase. Therefore, you can try to partner with a bookstore or magazine shop

6. Take advantage of the power of social media. Customers are more likely to engage when they feel attended to. Using the various social media platforms to connect to customers is vital since, through these, businesses can showcase the latest products and promos. Customers become more aware of the latest innovations/products, and similarly, they can relay messages which can help them decide on their purchase.

7. Create exciting content on your social media accounts. Have you noticed how some big brands create content that have become successful? One thing to remember in creating content is that it should be unique and make your customers feel that they are making the right choice to support your brand. Some businesses would share a video clip that imparts some moral lesson or create online promos to interact with customers or page followers. You want your customers to think favorably about your business.

8. Acquisition of another company. A giant leap when it comes to shelling out your resources. But, if you choose a company that can significantly improve your marketing standing, then it’s worth the risk. Hence, the company that will be acquired should have a vast following that can help boost the business.

Planning on your strategies for business growth can be both exciting and challenging. Be vigilant about which among these strategies are well-accepted and give you good results. Improve these strategies to earn more loyal customers to help you achieve a better position in the market.
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For more information, you may contact Armando “Butz” Bartolome 
by email: business.mentor@butzbartolome.com
FB Page: Butz Bartolome
website: https://www.butzbartolome.com

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