The small business world is one of fierce competition, innovative distinguishers, and big dreams. There are so many creative activities that a small business owner can participate in order to expand and grow, but needless to say, sometimes it can become overwhelming. When there are so many options, it can be hard to pick and choose the ‘right’ ones. However, if you need some ideas to think different, here are 3 great new strategies that you can use to get going on your journey to a new and improved small business.
1. Location based marketing
With all of the changes in technology, it probably comes as no surprise that there is also a brand new way of marketing available for businesses today. Word-of-mouth and traditional local advertising don’t make the cut alone. Instead, small and large businesses are using tools like location-based marketing in order to target specific audiences. For example, with WiFi marketing technology, businesses can actually advertise to nearby customers, offer rewards, collect useful data, and connect with customers on social media by having customers connect to their free company WiFi. Both the customers and the business owners benefit from this style of marketing, which is why it is a must-have in today’s world of constantly evolving marketing technology.
2. Social Media
Social media is the worst-kept secret when it comes to brand establishment, yet it is not used to its full potential by most businesses. Social media is completely free, which is one of its best perks, but as a result, many times businesses do not give it as much attention as it deserves. In order to be a productive tool, social media needs to be updated consistently and businesses need to continue to engage new customers. A great way to do this could be through a social media contest. Engage customers by encouraging user participation and offering prizes for winners. A great example of a hugely successful social media campaign involving a contest is the Lays “Do Me A Flavor” Contest. Yes, it is obviously done on a much larger scale than one launched by a small business would be, but the takeaways and principles are the same and can be just as effective for smaller enterprises.
3. Analytics
The key to improving a business is first, understanding its current operations. Once a business owner has relevant information like customer demographics, daily traffic, and consumer preferences, it becomes much easier to improve business strategies by targeting the specific areas that need help. Good analytics software can help identify areas of improvement and allow business owners to set clear, quantifiable goals in order to produce measurable results. Often times, analytics software goes hand in hand with location-based marketing technology as well, so it could be very affordable and practical to implement both of these creative new ideas simultaneously.
When discussing small business growth, we cannot close without discussing investment and financing strategy. Today, solutions such as Kabbage provide a unique, hassle-free approach to small business loans. By moving the entire application online, Kabbage can receive applications and approve loans in an instant, which is a huge advantage for small businesses – where time is of the utmost essence. In addition to using new, creative marketing strategies, to achieve optimal growth small businesses need to keep investing in resources, efficient management and customer experience. With such efficient help, businesses can get the money they need for upfront costs quickly and painlessly, and focus on doing whatever it takes to help their ideas succeed.
The key is to think creative, invest wisely, and take the leap!
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