How to Grow Your Small Business
Tips to Grow your Small Business
There’s been an increase in small business activity of late, with more and more people pursuing an entrepreneurial dream post-pandemic. Getting started is one thing, but if you’ve done all the basics, you might be wondering how to grow your small business over the coming months and years. Here are some useful SME growth tips.
Understand Your Financial Situation
As a small business or a start-up, your budget might be tight. But that’s OK. The most important thing to do is to know and understand your financial situation so you can make the right decisions for your company whether you’re investing in stock or hiring employees. If you’re looking to grow and expand your business, speak to your accountant as they’ll be able to support this process with things such as accurate cashflow reports.
Increase Your Social Media Presence
Are you making the most of social media? If not, it could be time for a more solid strategy. What is your audience and where do they hang out online? Once you’ve identified the main social channels you should be targeting you can start to post interesting and entertaining content relevant to your industry As you’re trying to grow your company, look for opportunities to boost follower numbers. This will improve brand awareness and encourage more people to take an interest in what you have to offer.
Hosting a competition is a good place to start. You can use this to your advantage by asking people to like, share and tag someone in a post in order to win a certain prize.
Improve your Organic SEO Strategy
If you’re not ranking highly in the search engine results pages, how do you expect people to easily find your brand? Improving your organic SEO strategy means finding ways to rank for important target keywords. This means making sure all web pages are optimised and offer a superior on-page experience. As Web Core Vitals are now a ranking factor you should also look into this ensuring page load speeds are on point. Data can be found in Google Search Console. Another thing you can do is to perfect your internal linking strategy as this will ensure all pages are easy to index when Google crawls your site.
Build a Customer Database
Are you letting potential customers slip through the net? As a company, it’s essential to gather data where you can. For example, give people an incentive to sign up for an e-book or free service using their email address. Make sure you receive their permission to be contacted (GDPR regulations) and then add them to your database. From there you can tell them all about offers and promotions you’re running and keep them informed with essential business news. You can even send them discount codes and such like.
Become a Go-To Source of Knowledge
Small business growth strategies include standing out from the competition by becoming a go-to source of knowledge. Posting awesome content to your blog and social media is a good place to start. Make your articles thought-leading and inspiring, offer go-live sessions with industry experts and sing about your credentials on sites like LinkedIn. Building authority takes time, but the more unique, valuable and helpful your content, the more people will want to visit your brand.
For help with the financial aspects of growing your small business, contact us today.