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4 Tips To Growing Your Business In An Efficient Fashion

Starting a business and making it profitable to a point is tough while growing as business can be equally as tough. This can take a larger personal investment or taking on investors which changes the power dynamic of a company totally in certain cases. The best thing that a company can do is to consistently provide quality products/services to retain their current clients. Client retention can really help when it comes to picking up new clients that you love to work with. Taking any client that comes through the door is not always wise as nightmare clients can tie up staff and kill margins. The following are tips to grow your business without breaking the budget in the most efficient way possible.

Content Marketing

Content marketing is extremely important when trying to grow a business as search engine rankings can make a huge difference in growth. Companies that are ranking on the 3rd or 4th page for their main search terms could be missing out on thousands of possible customers a month. Creating content that other industry sites and publications can link back to as a resource is a great way to do this naturally without risking a Google penalty. Content can come in various forms whether it is written, recorded in the case of a podcast, or put in video form. People like to consume content differently so do not alienate one part of the demographic simply due to laziness and not wanting to delve into another content form.

Partnering Up With Other Relevant Brands

Partnering up with other relevant brands to sell your products or while label your services can be an incredible opportunity. A great sales team at another company white labeling your services can lead to more customers without the headache of dealing directly with the customers. Partnering up with influencers in certain niches can help grow a business but not all influencers deliver a return on investment depending on the trust they have built with their followers.

Drop Shipping

Drop shipping can be a great tactic to growing an online business that has already has success. This will not involve having to ship or store any of the new products that are offered on an ecommerce site. Partnering with a wholesaler can be tough as not all companies are willing to set up a drop shipping arrangement that truly works. Other companies are more than willing to get their products in front of the most eyes possible. You need to make sure the wholesaler is reliable as being out of stock of a popular product can have negative impacts on your site.

Scour Industry Functions For New Customers

Millions of dollars are done and long term business relationships can be formed at conferences and other industry events. This is a great chance to sign new clients and having so many people in such a dense area can make it easy to meet with dozens of people over the course of a week. Building this personal rapport is important as a client is much more likely to be patient with a new vendor if they got to know them personally. Do not be a person that corners people constantly trying to sell but rather have staff discuss random industry happenings showcasing their knowledge. In most cases signing a deal or two will cover the cost of the conference so it is well worth it in the end.

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How Can You Accelerate Early Growth in a New Business?

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Many new businesses experience initial growth that levels off once they begin to mature. The experience is not a new one nor is it isolated to the first few month or couple of years either. The peaks and troughs of growth haunt businesses because they must be managed by a succession of skilled managers along the business journey.

You don’t have to just sit and passively take it though. There are things you can do to stoke the fire of growth once more.

Look for Repeat Business

As a business gets busier, staff are pushed to the limit and find it difficult to cope. One of the things that tends to fall by the wayside is keeping up with existing customers and asking for that next order. There’s so much focus on finding new customers and securing their first order that the best fruit is left unpicked on the tree.

As the experts at access2knowledge.org will happily tell you, the least expensive and easiest way to increase sales is to mine your existing customers. When was the last time that a salesperson touched base with these customers? Do they feel considered or cared about? Are their business needs being fully met? Maintaining a solid business relationship with existing customers is smart, as they are the foundation it’s built upon.

What’s Already Effective with Your Marketing?

You may have already tried many different approaches to marketing in a “throw the paint against the wall and see what sticks,” approach. That’s all well and good, but now it’s time to stop trying everything you can think of and review what’s been working for you. If there hasn’t been any effective measurement of results, can this be examined retroactively, or is it something that can only be implemented going forward?

When you have a proper handle on what’s been working so far, ask yourself the question: Will this marketing method still work today, just like it has in the past? Sometimes, marketing approaches get overcooked and are no longer as effective. Are there some tweaks that can be applied based on what you’ve learned that will improve your results going forward, or is a completely new marketing plan going to be required to accelerate sales growth?

Local Only? Try Expanding Regionally

When you’re sensing that you’ve reached a saturation point with prospects in the local area, it’s time to expand carefully, further afield. You don’t have to start taking out full-page ads in a niche magazine, but certainly, you should begin creating a plan to offer your product or service to businesses or consumers outside of your normal catchment area. How will you go about doing this? What should your first steps be? Consider whether you can rank for local search terms in the areas you wish to target and dip a toe in the water there. Learn how customers in this area might want different things and adapt your offering where you can to meet that need.

Accelerating growth when it’s slowed down isn’t that difficult when you’re a newish business. There are plenty of areas to mine that either hasn’t been picked over yet or have been overlooked in the previous push for ever-faster growth. Sometimes, it helps to be more mindful of the best approach the second time around to help sustain the new growth pattern for longer.

A Million Lives

Travelling in all its glory is fun and exhilarating but sometimes you might want to find some information on where to go, what to see and how to go about it from someone other than the go-to websites, especially when it comes to travel hacking and the coolest, most useful ways to get the most out of your next adventure.

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