Growing a business is the priority of every entrepreneur as it is critical for the success of a business. Growth does not only come from buying and selling alone. It is rooted in other unusual activities that you need to explore. Here are 4 ways to assist your business growth:
1. Outsourcing PEO services
A PEO is a company that offers human resource services to clients through a co-employment relationship. These service providers are most essential when you are expanding your business globally. Suppose you are expanding in Europe, when you use a PEO in the UK your operations in this new territory are streamlined. How does PEO actually help you? These service providers act as your UK Employer of Record. This means that they will handle all matters relating to your staff from payroll, taxes, to the provision of benefits to your English employees. Additionally, there is an advantage of shared liability because your PEO will share all risks related to hiring and managing employees with you. However, you have to choose your co-employment firm wisely for you to enjoy the benefits of these benefits. Outsourcing such services will have you committed to other efforts that are geared towards growing your business.
2. Set up a website
In this day and age, you cannot have a business and fail to have a website for it. A web page is like a manual of the products and services that you are providing which allows you to interact with customers online. It also showcases your goods and provokes customers to make a purchase. Although, having a site alone is not enough for the growth of your business. You need to perform web optimization for you to stay ahead of your competition. The process of web optimization involves using tools such as blogs to generate backlinks that make your site accessible to customers. It also calls for page-to-page optimization to increase traffic on your website. Web optimization should not be a one-time affair; you need to do it at least once every three months for your site to rank higher.
3. Nurture your customers
You need to devise strategies to nurture your current customers and stay in touch with them. One of the things that you should do to stay connected with them is by regularly sending them a newsletter and other promotional content via email. Emails give a personalized touch hence critical at nurturing relationships and promoting customer loyalty. You should take it as a great privilege when customers consent to receive emails from you- engage them. You should also reach out to your customers on social media platforms such as Facebook. Statistics show that about 67% of your customers have used social media to source for customer service. Make no mistake, social media is the preferred communication channel these days thus harnessing its power! Lastly, you should aim to retain your customers at all costs given that sourcing for new clients is an expensive affair.
4. Give back to the community
Philanthropy is a gesture of kindness and has a way of winning people’s hearts. The catch with conducting charity work is that you get a chance to build your brand awareness while you give back to the people around you. Therefore, you should consider sponsoring charity events in your local community. Some of the philanthropic activities that you can engage in include helping build homes for veterans, feeding the homeless, or taking part in marathons to support children with terminal illnesses. The advantage of this approach is that you will be featured in the local news which will boost your business reputation. While you assist your local community, ensure that you take pictures and videos, and share them on your social media accounts. When the social audience sees your commitment to other people, they will be inclined to follow you, and over time they will be converted to customers. So, pick one cause and pursue it!
When it comes to growing your business, you need to do what you can to remain visible, attract customers, and retain them. Outsourcing services, nurturing customers, doing charity work, and putting up a site is just the tip of the iceberg. When it comes to unusual ways of growing your business, the opportunities are endless hence explore them fully!