It’s not a secret that most startups struggle to survive and stay in business. Research suggests that 90% of small businesses eventually collapse. But even those remaining 10% find it challenging to grow and expand. So, how to ensure that your privately-owned company doesn’t only survive but also develop into a more extensive organization? That’s where we come in with our nine growth hacks to help entrepreneurs. These techniques will let you outperform your rivals and increase your survival rate in the market.
Growth-hacking suggestions for every business
It’s every company’s dream to maintain profitability and grow as a business. But commercial development needs fresh ideas and innovative maneuvers. So, we’ve compiled a bunch of cost-effective but highly-productive hacks to quicken the pace of your business growth. These promotion techniques inspire entrepreneurs to become creative and seek further means to ensure a prosperous future industry. So, without further ado, here are some suggestions for business expansion in 2021:
- Attend public events:
Did you know that 81% of consumers attending business expos have purchasing authority? That’s why 97% of B2B marketers are optimistic about the contribution of in-person events in achieving business goals. Learn that becoming the founder of a company requires attending such conferences and participating in exhibitions. So, polish your public-speaking and mass-communication skills. Since you’ll have to converse with investors, shareholders, customers, and even your competitors. Also, improve your ability to communicate via practice and diligence. Teach yourself how to charm an audience and convince listeners to perform the desired action of buying from you.
- Hire the right people:
A business can’t float without a dream team. This team consists of well-educated, moderately-trained, and competent individuals familiar with a company’s day-to-day operations. Your current employees can also pursue academic expertise since AACSB online MBA no GMAT is affordable and easily accessible. They can complete their formal studies with less strain and add immense value to the workforce. Companies often encourage their staff to elevate their pedagogic qualifications to gain more insights into the current industry trends. So, don’t hold back on those workers who wish to join a digital college and get lucrative degrees.
- Email list-building:
Marketers try different hacks for convincing people to exchange an asset with their contact information. They offer an ebook, white paper, case study, or a downloadable video to a visitor. Once you’ve acquired this piece of information, you can market directly to that one-time visitor and turn him/her into a solid lead. Other marketers try “gated content.” In these situations, a particular portion of the asset is available for public viewing. But rest is accessible only after the reader enters an email address. Offering freebies expands your customer outreach via email marketing.
- Retarget the customer:
Your website doesn’t impress everyone on their first visit. A study by AdRoll revealed that just 2% of first-time buyers convert. It means that you’re missing out on a big chunk of potential customers! That’s why companies retarget these visitors by creating targeted ads via Google/Facebook. These ads target visitors who left the site without purchasing anything. Optimization and automation have made retargeting effective. But don’t these hacks bother people? Stats show that one-fourth of such customers like watching targeted ads. Moreover, retargeting helps convert over 40% of customers. That’s why this tactic has become commonly-utilized in the modern-day marketing industry.
- Focus on content marketing:
No marketing strategy is more successful in helping your business grow than creating high-quality, unadulterated, and human-friendly content. Statistically speaking, it’s 60% less costly than old-fashioned marketing maneuvers but generates a higher number of leads. Google determines your website’s position and authority based on your content’s quality and backlinks to it from other domains. So, produce engaging articles for the readers that answer common problems faced by your niche. Remember that subtlety makes your blog posts influence more visitors. Your content must sound informative, and you should decorate it with royalty-free images and rare infographics.
- Get some social proof:
People nowadays buy mostly from brands they trust. Now, what’s the fastest hack to establish your brand as trustworthy? You can do this by simply adding some social proof to your website. It links to a community of your potential followers and even customers via social media platforms. Your company’s existence on these platforms is crucial to maintain visibility and attain digital respect. Social media is where brands meet and interact with the consumer. You publish relevant content consistently, observe people’s feedback, and answer their queries. Also, furnish your social media profiles with pictures, movies, and other engaging content to gain more attention online.
- Appreciate the feedback:
Commercial development requires examining your business performance via requesting feedback from customers. Learn to respond positively to a negative comment and focus on improving customer experience. You can ask consumers for feedback via email or social media. Surveys also help customers give a detailed history of their experience doing business with you. Remember that these comments contribute to increasing your brand reputation. A study states that some 84% of online buyers trust reviews and comments before making a purchase decision. So, make sure that a guest can see all the positive reviews and testimonials you’ve received on your website.
- Make an app:
Mobile applications have become extremely popular since the beginning of the 21st century. Statistics show that around 50% of smartphone users open an app over 11 times every day. Also, more than 20% of millennials use a single application 50+ times daily. Not only do apps enhance the brand image, but they also serve as a marketing agent for your company. Your customers can also access your products/services anytime they want, thereby improving customer satisfaction. More than 50% of internet users are browsing right now with their smartphones. That’s why you should also focus on making your website mobile-optimized to acquire more consumers.
- Fish for backlinks:
Your company needs high-quality hyperlinks for commercial growth. These backlinks make your brand appear more visible and credible, thereby increasing traffic to your website. How to earn more and better links? Well, you might’ve heard of guest blogging. It’s probably the best inbound marketing technique in existence right now. Your article gets published by a third-party website that has a more extensive following than your company. That’s how you gain access to a previously untapped audience. It’s the quickest hack to leverage content in your favor via a different domain. But you can also refurbish outdated articles and refresh their exhausted link-building potential.
Every entrepreneur wishes to watch their company grow and become more profitable than before. We live in an age of digital marketing where it isn’t that difficult making this wish come true. That’s why business owners now employ growth hacks to boost online traffic and acquire more customers. You create content that attracts new visitors by providing relevant and sought-after details. You build a community on social media, try guest blogging for attention, and experiment with email list-building. These Digi-hacks help your website expand, retain existing customers, and get new followers. In this tech-dependant time, your business can’t survive the competition without these growth-boosting tips.