The business community is bouncing back from years of uncertainty. The best way to recover is to grow. With money still tight and the market feeling cynical, growing your company will take guts and foresight. It will also take having the right strategies. Here are six ways that any entrepreneur can boost sales this year.
1. Invest in Digital Infrastructure
One of the most effective ways of building revenue is increasing efficiency. Few things create efficiency better than automation. Advances in artificial intelligence and cloud computing have made many automated tools available to entrepreneurs. Virtualized meetings done through Voice over Internet Protocol (VoIP) tools can save on commercial real estate costs and lengthy commutes. Systems like sales force automation and customer relationship management software streamline business processes.
Another benefit of automation has been the advent of customizable business apps. So-called “low code” programming tools allow novices to create programs with a minimum of expertise. It’s little wonder that low code jobs are growing in popularity. Look at your company’s needs, then shop around for digital tools that might aid them.
2. Focus on Powerful Content
The public is more cynical than ever about advertisements. That’s one reason why content is king. Creating relevant content is an organic way of driving conversions by generating interest. Present engaging stories and useful information on your blogs and social media pages. Update these sites frequently and on a regular schedule to keep consumer interest flowing. Leverage search engine optimization (SEO) tactics to optimize your standing in search engine queries. Tell the story of your company through your honest and eye-catching content.
3. Introduce New Offerings
Perhaps the most straightforward way of expanding your business is increasing your offerings. Niche marketing is a strong strategy. Doing so lets companies reduce competition by establishing a specific focus. The caveat is that your focus might eventually become too narrow. Consider broadening your line of products or services. Think creatively about what your target audience values. Create something that you know will elevate their lives. When you launch the new offering, consider an omnichannel marketing strategy that will maximize the reach of your message.
4. Establish a Point of Difference
It’s not enough to have a slew of new products and services. Distinctiveness is what will keep customers coming back for more. The offering could be unique or of uniquely high quality. The “quality” of a product means something different in every market. For restaurants, quality could mean locally sourced ingredients. For a car company, safety or sustainability might be the selling points. Balancing the cost of inventory and production against price and quality is a challenge in troubled economic times. That said, keeping quality standards high will always set you apart.
5. Learn More About Your Market
Knowledge of the market is critical to any strong sales strategy. Trends and cultures tend to shift rapidly in the information age. For this reason, it’s vital to keep a finger on the pulse of consumer preference. Market research can be qualitative, taking the form of focus groups and feedback left in a comments section. Research can also be quantitative, taking account of demographic shifts and polling results. Whatever form your research takes, keep it comprehensive and frequent.
6. Have Hassle-Free Customer Service
Having high-quality customer service might be the best way to generate repeat business. A recent study commissioned by Zendesk showed that 75% of customers would spend more at companies that give good customer service. Similar research conducted by OnePoll revealed that phone operators, email, and live chat are the top three options preferred by consumers. What’s clear from all of this is that human contact is crucial to giving a memorable customer experience. Build your marketing strategy around a commitment to caring for your customers.
Keeping business booming will never be easy. Even hard work doesn’t guarantee success. Building your growth strategies around these basic tactics can help even the odds.