As a small business owner, one of the biggest struggles you will encounter is breaking through your glass ceiling. There will come a point where you grow a little, but then things will level out. You might start feeling you are beginning to peak. Don’t dismay – it is possible to grow your business further. And, the key to it all is market share. In today’s guide, I’m going to go through several classic techniques to grow your market share and break through that glass ceiling. Let’s take a closer look.
Focus on the customer
One of the key advantages you have over bigger competitors is that you are not a faceless corporation. There are plenty of people out there who don’t mind paying that little bit extra if they feel your service is worth it. So, treat every customer with a lot of respect, and give them a reason to come back. And, never forget that word of mouth can be a great way to grow your business and strengthen your position.
Listen to their ideas
Some of the best ideas for your company can often come from your customers. If they are looking for something slightly different, why not concentrate on giving it to them? They will tell their friends, who will tell others, and all of a sudden you have a completely brand new market to focus on. Try getting as many ideas from your clients and customers as you can. Use online marketing tools like surveys. Make follow-up calls, and check your website’s search history for anything that is a popular request.
Get in the news
Journalists are always looking for stories to print, so if you have anything worth saying, make sure you get the word out. You might have some interesting statistics from your customers to share, for example. Don’t have media connections? Then use a press release distribution company. They will get your story in front of the relevant audience, and if you catch the right person, it can lead to a significant increase of interest.
Stay relevant
Businesses become stale because they don’t reinvent themselves or up with the times. If you can start spotting new trends or ideas in your industry sector, it can put you well ahead of the rest. It’s another advantage of being a small business. It’s far easier to move with the times, and you can leave your competitors trailing behind.
Be more flexible
Running a small business is a tough gig. It’s likely you are working six – probably seven – days a week. But, you can use this to your advantage. Working outside the regular 9-5 hours is something that can differentiate your company from the competition. Not only will you get more customers, but you can also give potential employees more flexible working hours. It can help you attract a better caliber of person, and bring in a lot more potential to turn a profit.
I hope this has helped highlight some of the tactics you can employ to increase your market share. Try them out – and see if you can break through that glass ceiling!
