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2018-06-13 19:59:59Promoting Your BusinessEnglishWant to grow your business? Running a small business takes guts and determination but at the end of the day, you need to grow your customer...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/06/iStock-877985916.jpghttps://quickbooks.intuit.com/au/resources/promoting-your-business/5-growth-strategies-you-can-implement-today/5 Growth Strategies You Can Implement Today | QuickBooks Australia

5 growth strategies you can implement today

2 min read

Want to grow your business? Running a small business takes guts and determination but at the end of the day, you need to grow your customer base to be successful. Regardless of whether you’re an online retailer or a bricks and mortar store, everyone needs to see their business and their bottom line grow. Here are five easy growth strategies you can implement today to help take your business to the next level.

1 Maximise your online presence

One of the fastest ways to grow your business is maximising your reach online. If you haven’t already, create a website. Then get your social media accounts up and running. If you already have a good online presence, figure out how you can make the most of it. Could you open an e-commerce shop? Can you create an emailing marketing list? Maybe you could embed a quote form on your website to drive leads. Think about how can use your website and social channels to drive traffic, reach potential customers and generate sales.

2 Host a competition

Nothing gets people talking faster than a decent competition. If you have a tangible product, this could be a very quick and easy way to grow your business. Get your customers and potential customers sharing your content by conducting an online competition on Facebook or Instagram. It’s a cost-effective way to grow your followers and your online presence. You can also team up with like-minded businesses and brands to throw a bigger competition with a more enticing prize and leverage off each other’s audiences.

Woman shopping online at home, business and modern lifestyle concept, all on tablet screen are designed up

3 Create a referral program

What better way to grow your customers than by asking for the help of your existing customer base? Reward loyalty by implementing a simple referral program. Ask your existing clients and customers to refer your product and services and then offer something in return. It could be a discount on future purchases or a free upgrade. Not only does this help bring in new clients, but it fosters a sense of loyalty and appreciation among your existing customers.

4 Launch a new product or service

Another way to achieve business growth, is by launching a product or service that appeals to a new segment of the market. Expand your current product offering or create a new service or bundle that targets a particular group of people. Make sure you don’t do this in haste though – do your research and launch only when your product or service is ready. Survey the competition and ensure you have a detailed launch plan in place to maximise your success.

5 Leverage influencers

Influencers come in all shapes and sizes, so there is sure to be an influencer or two that can help you grow your business. Social media influencers can help increase your brand awareness online for a fraction of the price of traditional media. Instead of turning to influencers with an extremely large following, try looking to micro influencers who may have  small numbers, but a more dedicated fan base. You can also use influencers as part of a brand ambassador program or to foster a giveaway on your behalf.

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Business reinvention enables you to remain competitive and reach new customers in changing markets. Download Business Australia’s free guide to learn how to reshape your business for continued success.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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