Looking to grow your business in 2023? These 9 business improvement ideas can help you get more leads, customers, increase your efficiency, and profits.
If you want your business to grow, you need to invest significant time and effort to let your business grow further. To avoid your business being stagnant, you should make some improvements or changes to make it better.
9 Business Improvement Ideas to Grow Your Business
1. Encourage customers to provide positive reviews of your business
Nowadays, before a customer purchases a product or service, they tend to look for positive reviews about the brand. For instance, before Kelly books a restaurant for Valentine’s Day, she will search through Google My Business or social media platforms to look for reviews. If the restaurant has bad reviews more than positive reviews, she will go for other alternatives.
If you want your business to stand out from your competitors, brainstorm some ways to get satisfied customers to post positive reviews online.
For example, you could:
Ask for reviews on your website and social media pages
In return, give them some vouchers
2. Offer flexible scheduling to staff
Because of COVID-19 pandemic, you need to change the way you relate to your staff.
Even if you can’t afford to give top employees a much-deserved raise or extra allowances, you may increase their satisfaction and loyalty by offering more job flexibility. For instance, you could let them work more convenient hours or work remotely (e.g. work from home).
3. Look into automation
Small businesses frequently start with small teams. Hence, you may operate some tasks with minimal human assistance, automation expedites a wide range of business tasks, including:
Accounting
Tax prep
Email marketing
Social media marketing
Customer service
As a result, business owners have more time to invest and manage other tasks like expanding new product lines, improving after-sale service and finding new markets.
4. Active on social media
Social media offers a valuable opportunity to build your brand and connect with customers. But, that does not mean you are using this resource to its fullest advantage.
Promote your products or services on social media like Facebook, Instagram, Tik Tok, Linked-In, Little Red Book, Youtube, and other platforms as well. Depending on the nature of your products and services, you might do better marketing your goods in a more visual environment.
5. Join associations, clubs, or seminars
Not only that, business entrepreneurs should join some business associations, business clubs, seminars for sharing mission statements, charitable efforts, and goals for the future to expand your connections. Just because social media has made it possible to connect with customers and connections online does not mean you should stop trying to network in person.
Not only that, you might even be able to cooperate with a company in order to cross-promote each other’s services. For instance, real estate agencies collaborate with renovation companies or interior design companies to provide one stop solutions for customers.
6. Reward loyalty
Did you know that finding a new customer costs three times as must as selling to a current one? If you want to build your business, make customers feel that they have benefits or value when purchasing your products or services.
While there’s no one way to keep customers engaged, you may try loyalty programs or freebies.
For instance,
Freebies - when a customer visits your bakery store and buys above RM20 each time, he or she may get a free egg tart.
Loyalty programs - offer stamp cards, a customer who buys 10 cups of coffee or tea might receive the 11th for free.
7. Build your CRM through email marketing
Email marketing is one of the best and most affordable ways of growing your business and customer relationship management. Many companies can find new subscribers by including email registration forms on their websites and social media pages.
You may try to provide customers with freebies like Chanel, people provide their personal information, then they can go to the store and redeem the freebies. Customers tend to open your emails and subscribe to your newsletters and future promotions if you give them freebies.
8. Listen to your customers
Why do some businesses fail? They did not listen to customers. To find out issues about your business, ask your customers and prospects for feedback. Ask what they like, what they don’t like, what else they need, what is their pain point, how should you improve, and what would make it easier for them to buy from you.
Contact previous customers who bought your products or experience your services and ask similar questions. The more you learn about customer needs and preferences, the more you will be able to grow your business.
9. Find a good business location
A good business location will grow your business location. The closer you are to your customers, the greater the chance that they will buy from you again. Who is your customer and where are they located?
It’s important to be near your target customer group. For example, you do not want to sell gaming consoles in an area populated with older generations. If you want to know more about how to choose a business location, here's 7 factors to consider.
The closer the products are to your customers, the higher your market value.
Are you looking for a business location? Chat with us, we may assist you to grow your business.
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