There are a thousand and one ways to grow your business. However, the most important of all is that you understand your customer base and channel all your energy into meeting their needs.
Seeing your business thrive is one of the best feelings anyone could have. And while it does involve some work, it isn’t impossible. Below are some practical ways to build your business:
1. Get to know your customers
Understand the needs of a particular set of people and create products and services that will effectively meet that need. This gives you an edge over others. You can also build trust and confidence in your customers by personalizing their needs and encouraging them to provide you with feedback.
2. Offer great customer service
Ensure you treat your customers nicely as they are your topmost priority. Go the extra mile if you can. Don’t give your customers any reason to regret patronizing you. Make sure their money is commensurate with the value they are receiving. This will leave a lasting impression on them and they wouldn’t hesitate to refer you to someone when the need arises.
3. Nurture existing customers and look for new opportunities
Come up with ways to retain existing customers. These include staying in contact with them via newsletters or getting them informed about promotional events ahead of time. Also, make sure you find the perfect balance between finding new customers and nurturing old ones.
4. Use Social Media
Social media is a valuable tool to promote your business to potential customers. You can gain authentic insight about customers through “social listening.” Social listening enables you to find out what customers are saying about you. It helps you identify keywords and trends that will help your business become more appealing to your target market, thereby improving your customer service and awareness of customers’ behavior.
5. Build/Increase your Network
The popular saying goes ‘No man is an island.’ This is true in every sphere of life including business. You cannot get to the peak of your career alone. You need the help of people to attain that height. Invest time to build your network – it’s not what you know but who you know. Networking enables you to build long-lasting relationships with people and encourages referrals through word of mouth. Remember, your network determines your net worth. Your business can only go as far as the people you know.
6. Host events
Hosting events puts you in the spotlight and makes people well informed about your business. You can’t have a business that wants to thrive and compete with bigger brands if you don’t host events. It’s one of the great ways to get to know your customers better and build relationships. Invite your best existing customers and let them bring their friends along.
7. Give Back to your Community
Building brand awareness in your local community attracts customers to your business. Don’t look down on your immediate environment. Start from where you are and watch your business travel to places you could never imagine. Let everyone around you know about your business first before reaching out to other people. You can also consider sponsorship or participating in a community event to boost your business profile.
8. Measure what works and refine your approach as you go
Be sensitive enough to monitor where your customers are coming from in order to measure whether your marketing activities are successful or not. Don’t be rigid. Be flexible and don’t be afraid to experiment. There’s nothing like a strict rule every business must follow. Refine your approach if something is not working and focus more time on the activities that achieve the best results.
9. Never Give Up
The popular mantra “Winners never quit, quitters never win” should be the watchword of every business owner. Challenges would surely come your way. Problems of the right audience to market to, unavailability of manpower, slow/sluggish sales, financial instability, and a host of others.
These and many more are some of the difficulties that entrepreneurs face. You have to be resolute and unflinching. Don’t give in to despair. Don’t listen to naysayers. Believe in yourself and attain the “unattainable.” Posterity will thank you!