As if starting a business from scratch isn’t daunting enough, many aspiring entrepreneurs find themselves stuck not long after they’ve established their startups. In the world of business, it’s nowhere near enough to merely start a business. Failing to scale the business is equivalent to witnessing its death. In a world where everyone is running a marathon, it’s understandable how these entrepreneurs feel pressured about joining the race and feel the need to grow their businesses quickly. While patience is an important virtue a business owner must embrace, that doesn’t mean you can’t join the marathon. That’s why we’ve compiled a few expert tips to help you grow your business quickly and efficiently.
You’ve certainly realized by now the importance of researching your competition. After all, that’s what all the competitive edge of your products and services focus on in your marketing. So why do you limit researching your competition to your plan? You’ll be amazed by the amount of information and insights you can get if you study your competition and their behavior closely enough. By looking at their best practices and marketing and sales efforts, you’ll realize what works on the ground. Make sure to study their landing pages, sales funnel, lead generation tactics, and ad copy. This is the best shortcut to implementing what’s been proven to work.
Many businesses make the mistake of neglecting their current customers in efforts of scaling up and expanding to reach new segments. You’ll be all the wiser to retain the old and current customers before scaling up; after all, you need these customers. They’re the ones who will testify to the quality of your products and services - or do the exact opposite and scare away any potential customers. A great way to retain both current and new customers is by creating loyalty programs that keep awarding them for choosing over your competition.
A sales funnel, or a sales process takes your customer throughout their journey until they finally make the purchase. While some aspects of the process can be obvious, you’ll never create the ultimate customer journey unless you put a great deal of effort into your sales funnel. You’ll have to especially pay close attention to the way you design your landing pages and optimize them for conversion. Although the tools are plenty, you can limit your options and compare the Instapage vs. Unbounce tools for creating landing pages. While both tools are top-notch, your personal preferences will play a big role in your final decision. Afterward, you can craft your sales funnel to optimize your customer experience.
There’s something else that a landing page gives you, and that’s the opportunity to generate leads. Make sure to create an email list from the leads you’ve generated; that will be the core of your email marketing strategy. Email marketing is the best way to keep an open connection with your customers, making sure to maintain proper communication with them.
You’re probably looking for ways to scale up your business - as you should - but why would you limit yourself to your local area? With the level of globalization we’ve reached, it makes more sense to look for new opportunities anywhere in the world. This is especially crucial in light of the current economic situation, so overseas opportunities might prove much more feasible to you. You can simply reach clients overseas using global platforms that connect you with clients of all backgrounds and nationalities.
The truth is that you don’t have to do everything on your own. That holds true to your team and the necessity of delegating tasks, but it also means you should start looking for strategic partners you can trust and depend on. Finding strategic partners can fill the gaps in your business, whether it’s a gap in your supply chain, the next step of the services you provide, or someone who can connect you to more customers. The most important catch here is building mutually-beneficial partnerships, so make sure you’re clear on what you can offer them in return.
In a world where everyone is running a marathon, it makes no sense to do everything manually. Replace all the clerical and mundane tasks with smart software and technology that can automate the process and make it much more efficient. Instead of logging the customers’ information manually, invest in a software that can identify cost reductions, enhance customer experience, and monitor risk and compliance which can all be achieved using process mining technology.
Starting a business is overwhelming on its own, and that makes scaling it up look terrifying. However, the smartest way to grow your business quickly is by establishing a strong foundation. By looking at the weak points and optimizing the base, you can run the marathon and storm the market with what you have to offer.