In times of economic recession, every entrepreneur ends up asking the same question: how to make the company grow? Generating better results and increasing profit rates are dreams of everyone who has a business of their own and wants to thrive in their acting market.
The problem is that growth is often tied to the increase in investments, and with the economic difficulties Brazil faces, many entrepreneurs find it difficult to turn the capital in their companies.
If this is also your case, do not despair. There are more options in mind and at your fingertips to make your business grow, even in an adverse scenario.
Check out now 7 steps to make your business grow with simple but highly efficient attitudes!
1. Invest in marketing
You know that advertising is the soul of business, is not it? But unlike what it was a few years ago, putting your company name on the media is no longer an exponentially onerous process and is more accessible and democratic.
The digital media, mobile technology and all the technological trends that we are witnessing have provided facility in the subject of business marketing.
Nowadays, any company, regardless of its size, can expand its reach and compete with larger organizations by investing in assertive marketing strategies and actions. Digital marketing, for example, allows efficient and inexpensive campaigns to collaborate with the company’s results, bringing new customers, better business opportunities and promoting brand visibility into the market in which it operates.
How to make a company grow without it being known, is not it? After all, as the saying goes: “he who is not seen is not remembered”.
2. Make partnerships
How do you grow your business without having good business partners? The task may even be possible, but the venture will certainly face more challenges along its path. Not even the largest corporations in the world have not achieved absolute success alone. Therefore, building partnerships with other companies in your market can be a highly promising and profitable strategy.
The more business partnerships the venture can count on, the greater its chances of winning new customers, increasing its range of opportunities, and optimizing results .
Business partnerships can cover a wide range of needs among those involved in the process. For example, you can count on a company that provides services complementary to yours, or with businesses that can improve the services and solutions that you provide to the market.
Considering a business partnership makes the brand look and therefore known in markets it has not yet explored. That is, it is a way to advance and conquer new territories. Without a doubt, we can say that partnerships are one of the biggest indicators that the company is heading in the right way to become a big business.
3. Increase your network of contacts
A successful entrepreneur must go beyond simple networking to thrive in your business. The key is to take the image of your company to all the places you go. Especially nowadays, where technology eliminates geographical barriers between companies, partners, partners and customers, expanding the network of contacts is almost a prerequisite for success.
Whatever the size of your company or the segment in which it operates, you should take every opportunity to publicize it, participating in corporate events, cultural movements and social causes, as well as ensuring a strong presence in the digital environment. If you practice a sport, you can divulge it to your classmates, the same goes for family lunches and meeting with friends.
Just be careful and good sense when prospecting new contacts. There is the right time and place for this. The idea is that over time your own presence will speak for you, representing the image of the business, without having to say anything. If you still have questions about how to grow your business, this tip will surely help you.
4. Value your employees
How to make the company grow without the help of anyone? You are not alone in the quest for the best deals for your business. Your employees also work day and night for the organization to succeed.
Therefore, it is imperative to have them “wear the shirt” of the company and look for the best results for the organization as a real team. And the best way to get at these results is by showing that they have great value for the running and success of the company.
You can count on some effective strategies to motivate them and bring them to the entrepreneurial culture, such as:
- create bonus campaigns;
- stipulate personal goals;
- reward them financially (commission system);
- provide benefits and security so that you promote the sense of stability;
- develop a productive and enjoyable work environment;
- avoid stimulating negative competitiveness (excessive ambition) among employees;
- hold meetings to hear the suggestions and criticisms of each employee regarding the work routine.
Also, know that there is a big difference between being a boss and being a true leader. While the boss only gives orders and gains results, the leader places himself in the same position as the members of his team and seeks the solutions alongside his led, showing that everyone has their special value in a team.
5. Fidelize your customers
Before you think about getting new customers or how to grow your business, value those you already have. Customer loyalty is a great challenge, but it is worth pursuing. The cost of raising a new customer is infinitely greater than the amount needed to maintain the base.
So consider creating loyalty programs and other solutions that encourage your customers to continue doing business with you.
Offer deals, discounts and unmissable offers to make them buy again. Invest in the quality of your service (this can be a great competitive advantage) and show that consumers have value even after doing business, ensuring that they have their needs met in the aftermarket.
After all, loyal customers not only indicate their brand to new consumers, but also increase the average ticket with each new purchase, since they trust with closed eyes on the quality of products or services that your company has to offer.
6. Focus on a specific market niche
Many ventures are generated from an idea that seems simple, but that is not effective: offer your products or services to all audiences. Most entrepreneurs end up discovering during their endeavor that the ideal is to focus their efforts and strategies in a single niche if they want to grow.
The fact is that offering everything to everyone not only makes the company lose its credibility with its true potential customers, but also wastes time and resources of its employees.
The modern consumer likes to develop relationship with the brands that consume and prioritizes the quality of the service and if you want to know how to make the company grow take this into consideration.
Take a look at how big companies have behaved on social networks, responding to user feedback, investing in laid-back action, and an informal language to engage and engage with their followers. Therefore, businesses that focus on specific audiences tend to offer competitive differentials by knowing that they understand the needs of their customers.
In short, the more focused the company has in a single niche market, the more specialized it becomes, in addition to generating trust and credibility in consumers.
7. Educate the market with your product / service
Many consumers are looking for a solution on how to make the company grow, yet they still do not know the true potential of their business or the usefulness of their products and services. However, it is up to you, as an entrepreneur, to educate the market in which you operate and present the solutions you have to offer your potential customers and the reasons that make your product / service indispensable for everyday life.
Remember that the market is saturated and your customers are constantly bombarded with information about competing products, making it difficult for them to make a decision as to what is the best solution to their problem.
Therefore, educating the market, presenting competitive differentials (characteristics or advantages that competitors can not present) may be the best way to show that what you have to offer is what the consumer needs.
Successful ventures usually engage the public and educate the market, launching tendencies of consumption and behavior, as they position themselves as true market leaders. When a company knows how to play an influential role, the trend is for brand recognition to be implemented in the minds of potential consumers, increasing demand and achieving better results.
As you could see in today’s paper, the way to grow a business in such a competitive market and a delicate economic landscape, such as today’s, depends entirely on its ability to broaden its perspective on the future of the enterprise.
Fidelizing customers, investing in marketing and internet presence, having good business partners, educating the market and valuing your employees are just a few of the strategies that should be part of your business culture if your intention is to make the corporation thrive in a healthy and promising way.
Did you see just how many ways on how to grow your business without having to spend a lot? If you like this content and want to receive more posts like this, subscribe to our newsletter right now! Now, if you need credit for your company and do not have time for the bureaucracy of the banks, count on BizCapital.