In search of effective ways to grow your business this year? Then you’re in the right place. Growing your small business in 2019 just got a little bit easier thanks to our innovative ideas for business development.
From social media and loyalty schemes to networking and shared office spaces, there are many ways in which you can keep your customers happy all while ensuring the growth of your business.
1. Make the most of social media
An online presence is necessary for most, if not all, businesses today – and the influence of social media is becoming increasingly more evident. If your business owns social media accounts, it’s important it keeps them updated regularly. Posting often and replying to customers can help your business grow.
The most powerful aspect of social media marketing is that most platforms are free to use. Unless you pay for advertisements or premium packages, you can utilise social media for free, you’ll just need to set some time aside to post and engage with your customers.
Social media is a powerful listening tool as it allows you to listen to what your customers have to say about your business online. Social media can also help your business grow online by reaching out to or grabbing the attention of potential customers.
2. Network, network, network
We’ve all heard that well-known phrase, ‘it’s not what you know but who you know!’ Often a true statement, attending networking events can help you build relationships with potential partners and share knowledge with like-minded people. Word of mouth is extremely powerful and fellow attendees may even be able to refer their customers to you.
From marketing experts to designers and developers, you never know who you could meet at your next networking event. Here at Accelerate Places, we hold frequent networking events for customers and guests, allowing them to meet new people and form new ideas.
3. Apply for a business growth loan
Growing your small business often means you’ll need to invest more. If you don’t have the money to invest yourself, as many small businesses don’t, you could consider applying for a business growth loan.
Applying for a business growth loan could provide you with money you need to expand your business, from producing more products to meet customer demand and spending more time on marketing to potential customers.
4. Establish loyalty and encourage repeat customers
Every business dreams of loyal customers that keep coming back, but there are ways in which you can instil this loyalty and encourage repeat custom. Good customer service is a simple yet effective way to create loyalty to your business. If customers have had a good experience, they are much more likely to purchase from you again.
You could also take a look at added perks and loyalty schemes, such as freebies with purchases or even rewards points to encourage them to keep coming back. Repeat customers are just as important as new customers in helping your business grow.
5. Rent a shared office space
Another great way to help your small business grow is by utilising a coworking space, such as our shared office space in Manchester. Shared office space is a great way to meet new people who could have knowledge or expertise that could be of use to your business.
Here at Accelerate Places, we have seen many businesses, from startups to established brands, use our shared office space to help boost the growth of their business – and endur8 is a prime example of this.
The sports technology company utilised discussions with other startups, and the exchange of business ideas within the coworking space, to help expand their business during their time at Accelerate Places Nottingham. You can read the full post about their experience thanks to our community spotlight with endur8.