Every business owner wants to get ahead of the competition, and chances are you’re always on the hunt for new ways to do just that. While there is no guaranteed rocket to the top, there are a few creative ways to get ahead that you might not have thought about before. Here are five of our favorite business growth strategies that you can put into practice immediately.
Everything you do at your business should be designed to make it easier for customers to make purchases from you. Anything that could potentially trip customers up should be eliminated, no matter how minor it may seem. If you have a retail store, this means keeping the shelves neat and organized, with appropriate signage. If you operate an ecommerce business, this means keeping the number of clicks required to make a purchase as low as possible. Do whatever you can to get rid of any excuse your customer might have not to buy from you.
Figure Out What Sets You Apart and Sell That
What is it about your product or service that is so special? Why should your customers choose to buy from you rather than from any other business? You have a secret sauce that no one else does – and that’s what customers are really buying when they shop with you. The more clearly you can articulate and market your unique value proposition, the more successful you’ll be.
Look at What Others Have Done
Most business growth strategies focus on what you can or should do, but this one has to do with what other people have done. Take a look at the successful business owners you know or have read about, whether within your industry or outside of it. What have they done that has worked well? What mistakes have they made that you can learn from instead of repeating? Just because you have your own secret sauce doesn’t mean you need to reinvent the wheel. Learn from those who have gone before you.
Use the Right Incentives
It can be tempting to email out a quick coupon or throw up a sale sign on some products that are selling poorly, but think before you try either of those tired business growth strategies. You need to figure out what kinds of incentives your customers are most receptive to – and the best way to do that is to ask! Find the VIPs who are your regulars and get to know what would entice them to make more or larger purchases. It may not be what you think, so before you waste a bunch of money on a promotion that won’t work it pays to ask around.
Find Vendors You Trust
You can’t do it all. Even with the very best business growth strategies on your side you’re going to need some help to handle all the day-to-day tasks of running a business, like credit card processing. That’s where it pays to find vendors who see themselves as much more than just vendors. You’re going to need people on your side who are partners in your success and are willing to put in the hard work that it takes to get there. For example, you need a credit card processor like 360 Payments. Give us a call at 1-855-360-0360 or drop us a line on our website to learn how we take care of business owners so you can take care of your business.
PS – Get more customer referrals with our guide.
PPS – Learn how to use video marketing to your advantage here.