11 Ways To Expand Your Business
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Whether your business is thriving or it’s struggling, and you’re looking for ways to make more money and expand, there are plenty of options out there for you. Make sure you do your research and find out which is the best option for your business, and each business owner and company is different and have different needs. Here are a few of the best ways to maximize your business and get the best out of it as well as reach more people who can appreciate it.
Create A Webinar
To expand your business, you need to find new and unique ways to promote your business and reach new audiences and customers; webinars are a great way to do this as they provide an automated selling tool for taking any product or service to market. They help you to reach a wider audience, and they do it very quickly. If you do it right, you’ll be able to captivate your audience and clinch plenty of sales.
Make The Most Of Global Platforms
The opportunities online to sell your product or service to a broader customers base are now endless, so why not make the most of this and use services such as Amazon’s FBA service, Upwork, and Airbnb. They are well known, trusted, and have a vast customer base, so you’ll be sure to reach a larger audience, and this could help to grow your business faster.
Would your current offers translate and work in other countries? If so, then what’s stopping you from taking your business across the pond? What would it take to do business in Canada or Mexico or Europe? If you have an offer that could work in another country, then international expansion could be a quick way to grow. While it will incur some initial costs, the potential for profits could be massive.
Update Your Tech
For your business to survive and grow, you need to adapt to new technology and keep developing with it. Having your website mobile friendly is a must if you want your business to thrive. You need to change as much as you can, for example getting a credit card reader for a mobile phone will mean faster and more efficient transactions as card readers can reduce queues, thus improving the customer experience. Adopt new services such as Apple Pay, or Android Pay as this will also mean that sales figures and customer behaviors will be recorded automatically, which will give you instant access to useful data which will help to keep control of stock and plan your next marketing campaigns. It will help to reduce fraud and also provide your business with a more secure way to make payments. You should also adopt other technology that can make running your business easier, Lion Desk, for example, is a CRM provider that takes an explicitly sales-based approach and designed to help real estate agents achieve more sales and generate more leads, thus growing the business.
License To Others
If you’d like to grow your business without too much effort, then licensing deals is a great way to go. If you have a product that you can license to others and share revenue of, then it’s an ideal way to increase.
Franchise Your Business
Rather than trying to open up new locations and branches for yourself, if you have a successful company, you could find out how to franchise your business. While franchise costs are high and moving to a franchise model can be tough, and you need to know your market. However, it could make the difference you’re looking for and give you fast and substantial growth.
Make the Most of the Media
Getting into the media is free marketing, but you have to get in there and to do that you need a good story and a reason for the press to want to write about you or to put you on TV or radio. Creating a publicity stunt can be an excellent way to garner attention or getting involved and doing something unique for the community? Send out a press release before the event and call the press and tell them what you’re doing. Good examples of this were when some innovative hairdressers offered free haircuts to the homeless. It could also help to sponsor an event by donating your products or services as giveaways or prizes or host a contest or nominate yourself for a business contest or award. If you win, even better! Introduce yourself to the media and offer yourself as an expert in your field. If they ever need someone to interview or quote, make sure it’s you who they come to. There are ways you can seek out opportunities like this by signing up to an email list like Help A Reporter Out
Is there anything else you can offer? Are there complimentary products, services, or information that you can provide in your business? Speak to your customers and find out what else they need or want? Where else can you add value? Are there any new opportunities? What are your competitors doing?
Increase Your Income Streams
Is there anything else you could be doing? Passive income streams can be helpful; you can get paid over and over again for work that you did once and by choosing the right sources of passive income, you can invest your time the way that you want to and back more time. If there’s something, you could do related to your current business, then even better. Can you create an online course to put on your website? Is there any affiliate marketing you can do?
Guerilla marketing is a great way to get noticed and get people talking. While business owners often want to see the direct conversion from marketing activity to sales, sometimes you need to look at the bigger picture, have some fun and use your creativity, imagination, and originality – it doesn’t have to be expensive. Creating some eye-catching artwork on your office building, organize a flash mob, or create a Youtube video. There are loads of great ideas online, so do some research and get creative.
Go To Events
When you are at an event, you can generate feedback immediately which means that you can get valuable feedback much faster, and this can allow you to address any potential issues with your product or service there and then making your business more flexible and adaptable, as well as improving your customers’ satisfaction.
One of the most significant benefits of attending an event is lead generation as events often generate a high volume of both marketing and sales-ready leads, and the return on investment (ROI) is easier to calculate than other digital marketing initiatives. The quality of event leads can vary depending on several factors. Whether you are organizing an event or just exhibiting at one, there are a couple of strategies you can use not only to attract a high volume of leads but quality ones as well.
Most events also include networking opportunities; whether it be networking breaks, drinks, meals, or more substantial activities such as golf tournaments, cocktail receptions, or award ceremonies. These activities can provide some light relief from work-heavy sessions throughout the day. Don’t just think of these extra sessions as a break, but use them as an opportunity to make connections with other people in the industry. It can be valuable to have mutually beneficial partnerships with organizations in your field of work because you can leverage each other’s experiences and knowledge to build better solutions and, ultimately, provide your customers with more value.
I’m just not a person who knows much about running a business. Lol, I’m fresh out of ideas!!
I don’t know about the USA but here in Ireland most banks have a small business advisor and there are plenty of Government agencies and NGO’s to help. All advice is free, you just have to ask!
I’m definitely no business genius, so I guess I’d need this help. I know nothing about most of it.
These are good ideas. I never knew how small business operators can expand, except regular advertising, that might not work, or word of mouth.
Connie! This is me whining! I know you’re having a wonderful time but please can we have something new to comment on!
I had never heard of Amazon FBA or UpWork. You learn something new everyday, I guess.
I’ve just spent a good hour checking out Help A Reporter Out – I never knew such a thing existed.
I never would of thought of something like a webinar. I think I’m getting old, lol.
Networking is so important if you want to get your brand out there. ‘ It’s not what you know, it’s who you know’ still applies.
I’d say going global would be a great way to expand business online. It would be worth the effort.
Thanks Connie (wherever you are), I really was running out of something new to say!