5 Tips to Grow Your Business in 2020
As an entrepreneur, you are already very aware that sustainable growth isn’t something that just happens overnight. Instead, it takes a lot of concentrated effort from every department in your business to get new clients while retaining those you already have.
As 2020 zooms in and you start planning your business strategy and setting your goals, here are some tips that can help you grow your business in 2020.
- Understand your customers
To get more customers you need to develop products and services that they actually need and will be valuable to them. In order to know what it is that they want, you need to first focus on understanding them. This can be done by inviting people to participate in surveys or questionnaires where they can provide feedback on your current products or services, or where you can ask what are some things they’d like for your product/service to address.
- Customer Service
Even if your product is superior to that of your competitors it can still be hard to maintain and attract new customers if your customer service is poor. Make sure your customers feel valued and if should any problem or issue arises you need to address it in a timely manner. People today purchase something depending on the experience a brand offers, so make sure you are providing a top-notch customer service experience across all touchpoints.
- Establish loyalty
Getting new customers is important, keeping your customers is vital. Having special offers, discounts, perks and promotions help you make your customers feel the value of remaining loyal to your company. Keep in mind that this only works in addition to having a great product that your customers already like.
- Use social media
Make sure to get a proper social media marketing strategy going on; simply having a profile and posting every now and then doesn’t cut it anymore. An effective social media channel takes into consideration the following:
- Which channels will you use (which should be exactly the ones your customers like the most)? Though it’s OK to be on all platforms, only do so if they are truly relevant to your target market.
- What type of content will you create and publish? (Images, text, video, podcasts, a combination?).
- What are your goals? When you publish on social media, you need to have a strategy and a goal for each post. Are you looking for more engagement, for a higher click-through rate, for new customers?
- Measure results. Any strategy needs strong KPIs, and to ensure your efforts are being fruitful, you need to make sure you are measuring the results of your efforts.
- Host events and attend networking events
This year make an effort to really put yourself out there and network. There is no better way of keeping a finger on the pulse of the market than actually being physically involved in it. Good networking events can enable you to find new collaboration possibilities, can help boost your creativity, and meet potential clients or business partners. If you don’t know where to start with events and networking, visit your local coworking space. These spaces host regular events that are attended by professionals from across industries.