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Marketing Insights

Marketing Tips To Help Grow Your Small Business

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Forty-three percent of businesses closed temporarily in 2020, all due to COVID, and 10% of those businesses that stayed open were forced to cut their own wages, many worried that they would never recover from their COVID-inspired losses.

How to increase sales with current and new customers:

As business returns to the world, small and medium businesses are looking to increase sales and drive the revenue to make-up for 2020 – and they are turning to marketing to enable this vital growth. Let’s explore a few easy and cost-effective techniques proven to grow a small business.

1. Acknowledge current customer behavior

Research how your customers are using your product or service, what features they utilize, and what other, associated products or services you offer to enhance your primary product, and make changes. Consider adopting and cross-selling new products, or investing in refurbishing your customer services processes and practices, to enable better communication between your customers and your company.

2. Run promotions for current customers

We all know that maintaining current, loyal customers is easier and cheaper than finding new customers. It’s important to recognize your loyal customers while trying to find new ones, and running promotions is a great way to do this.

It’s important to recognize your loyal customers while trying to find new ones…

Offering monthly or quarterly promotions for existing customers means consistent sales and growth, and never underestimate the power of a discount referral program!

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3. Provide excellent customer service and offer additional services

Customer service is easily the soul of a business, and in 2021, an increasing reliance on eCommerce means your customer service might be the customers only contact with your company. It’s important to provide excellent customer service at all times. An easy way to reach your customers is to use a shipping warehouse to eliminate common issues like unexpected cost, inventory issues and storage and retrieval inefficiencies, to name a few.

4. Work smarter to drive efficiency

Small businesses can be very agile, but require increased efficiency to really take advantage of it. Many small businesses are relying increasingly on automation to boost productivity. Consider deploying AI technology or automated shipping to help with customer service or outreach strategies. A few practical examples of working smarter and not harder include:

  • Doing too much data analysis without paring down your information for the most critical elements.
  • Taking on too much or putting too much on the shoulders of a few employees.
  • Losing urgency on projects and not following them through to success or keeping to a timeline.

5. Respond to your customers’ changing needs

As we mentioned above, one of the biggest advantages of small businesses is their agility in responding to customers' changing needs.

Small businesses are in the unique position of being able to reach out directly to their customers at no cost…

Small businesses are in the unique position of being able to reach out directly to their customers at no cost, through social media platforms or their website or mailing list. Many small businesses choose to use these avenues to respond to changing customer needs on a dime.

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6. Let nimbleness spur innovation

This ability to reach out and communicate with customers easily and quickly, also enables the type of nimbleness you need for the creative process of innovating products and services. While huge enterprises take years to bring a new product or innovation to market, small businesses can do this quickly and for far less money than large enterprises. Ask your staff or customers what new products or services they need or could help create or source, and then act quickly!

7. Increase sales with prospects

Create packages, deals, and free trials to attract customers, and reach out on all your platforms for maximum exposure or coverage. A few great ways to do this is to join relevant social media groups and answer questions or participate in group chat.

Get involved online offering constructive comments and advice on subjects in your field of expertise…

You can also write blog posts for your own site or others, with a clear call to action to tell your new customers how to reach you. Get involved online offering constructive comments and advice on subjects in your field of expertise, and increase sales with the prospects this outreach brings in.

Small businesses create 1.5 million jobs annually, and account for 64% of all new jobs created in the United States per year, meaning it's vital to our economy that small businesses thrive. 2021 promises to be a time of recovery, if not incredible growth for small business and large enterprise alike, but unlike the past, small business has a very clear advantage this year.

Following these marketing strategies is proven to be a low-cost and fast way to reach new customers and engage loyal or past ones. Take advantage of this year of potential, and use marketing to make your small business a powerful force to be reckoned with.

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Related articles you may find helpful:
How Branding Improves Customer Perception of your Product
Here’s How Low Prices Can Hurt Your Business
Love The Customers You Have Before You Focus On The Ones You Don’t

Topics: Social Media, Advertising, Marketing, Business Management, Email Marketing, Retail

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