Business Basics
How to grow your business without breaking your bank account
Increase your social media presence
Love it or hate it, social media is some of the best bang for your buck out there. Content is king, and If you’re not building an audience then you’re missing out.
Social media marketing is an inexpensive way to connect with your customers and grow your business. If you are new to using social media, you should focus on one platform at a time. You should find out which platform is the most popular with your customer base and build a presence on this platform before moving on to another social media channel.
List your business on Google My Business
Most people search for products or services online, so why not use the power of the world’s largest search engine for clients to find you. Google My Business is a free service that allows you to show up on the map when people search for a local business.
Encourage referrals
Word of mouth marketing is a powerful way to grow your small business. Customers who have had a good experience with your business should be incentivized for spreading the word. You can create a referral program to reward customers who have introduced a new customer to your small business.
Establish strong branding
Your branding should be strong and distinctive to set you apart from your competitors and to encourage customer loyalty. A strong brand includes a logo, a memorable tagline and a targeted marketing message. You can strengthen your business by designing your promotional materials in your brand colors to reinforce your message.
Build an email list
Email marketing plays a vital role in customer engagement irrespective of the type of small business you own. According to a survey by eMarketer, 80% of marketers stated that using email marketing played a part in retaining customers. Email marketing is a cost-effective way of engaging customers and growing your small business. You can start to build your email list for free with some email providers, like MailChimp.
Partner with other small businesses
You can enter into joint venture partnerships with other small businesses. These partnerships can either be formal or informal. Work with businesses that offer complementary goods and services to gain the most benefits from your partnerships. An example of a joint venture is a referral program to recommend clients to each business.
Ask your customers to fill out surveys
Thanks to services like SurveyMonkey and Google forms, it doesn’t take much time or money to create and launch a survey these days. Consider creating one for your customers, and use the free information you get from them to make changes that matter.
Focus on Customer Service
Another way to expand your small business on a low budget is to focus on customer service. There are hundreds of businesses that provide the same product or service that your small business does. What can set your company apart from the industry giants is a welcoming environment, a joyful staff and personal customer service.
People want to support small businesses. Go out of your way to make their experience with your company one they want to have again. If a customer presents an issue to you, resolve it quickly and without an attitude. One bad interaction at your small business could lead to them telling all of their friends that your company is sub-par. Word gets around fast.
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Jay Dort is a Data Analyst at huumans
What is huumans?
A 'Modern', cost-effective bookkeeping service designed specifically for small business owners, huumans provides same or next business day support, guaranteed weekly reconciliation and fixed, transparent monthly pricing. Your business numbers, directly calculated from your constantly reconciled accounts, are presented in a free, easy-to-understand, on-demand, shareable dashboard - and like your billing, it can be managed online whenever you find it convenient. Offering the most cost effective small business managed payroll services in Canada, we also provide specialized discounts for startups and new businesses, along with dedicated solutions for franchises.