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How to Grow your Business (and Increase its Value) 

Are you wondering how to grow your business? Growth naturally adds value to your business and this means you will ultimately make more money.

Businesses can be grown through traditional methods or through online marketing (using both is recommended!) There are so many options out there that can make the process difficult and overwhelming. Here we discuss the top things you should be doing to grow your business and add to its value.

Keep it simple and focus on what matters

 When people are growing their business, it is common for them to overcomplicate things because they want to get it just right. But remember, the basics always work well. The most important thing is to stick to the basics and stick to them consistently. This will be the number one factor in achieving growth.

Develop a clear plan

Before putting anything into practice, it is important to make a clear plan that details the steps you plan to take in order to grow your business. In your plan, be sure to include things like your product, your target customers, how you plan to reach your target customers, and details of your key competitors.

Don’t feel like you need to stick to it wholeheartedly, but keeping this in mind will really help you have a focus that will translate to clear results.

Stand out from your competitors

What can you offer your customers that your competitors can’t? Do you have a unique selling point that will win your customers? It’s extremely important to get this across in any of your marketing efforts, for example using client testimonials on your website, creating a compelling video for your social media channels showing why you’re different, or working on getting this across in blogs and PR.

It’s worth speaking to your current client base and asking them why they chose you over another business – was it the price point, the customer service, perhaps the convenience of your location? Use this information and really focus on it to attract new customers.

Get to know your customers

Who are your target customers? What makes your brand stand out to them? How can you capitalise on their interests and needs? You’ll get all this information by interacting with your customers regularly, both face-to-face, over the phone, or online.

Face-to-face encounters and over-the-phone conversations are great for getting to know them on a personal basis. Be sure to ask for and value their opinion and make changes based on it in order to gain their respect and trust. Loyalty goes both ways here.

Engage with customers on social media 

Another great way to keep in touch with customers is to use social media. If used in the right way your business and the services you offer could reach a large number of people. It can be as simple as writing and posting regular posts which will make customers feel close to your brand.

You can also run contents which have a prize that is relevant to your target audience, this will make them want to enter into the competition. Another idea is to engage with relevant calendar days, for example, if you’re in the creative industry, you might want to engage with art week by getting local primary schools to send in their work for you to share.

Build an email list

Find a way to make customers want to give you their email. Perhaps you could create a resource on your website that is given in exchange for their email address. Once you have their email address, you can send them exclusive offers and details about your company.

It is also important to create personalised content (as opposed to generalised content) to send to your customer’s inbox. No one wants to receive an email that seems generally and untargeted, make sure the content speaks to them personally!

Attend networking events

Word of mouth remains a massive factor in how people find your business, this is a major reason why networking events are so important to this day. Research networking events relevant to your industry and talk to as many people as you can there. The people you speak to may pass your information on to 10 more people.

The aim is to try and nurture meaningful encounters so the next time someone is talking about needing a particular service, the person you spoke to will likely recommend you.

Try different methods

Business growth is a process that will likely continue over time. This means that it is important to try different methods in order to test their results and make changes based on whether you’re getting the desired results or not. Remember, the more you grow your business, the more revenue it makes and the more your business is worth.

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