If you’re serious about your business and want to make it truly successful, you need to keep growing. The best businesses are always looking for ways to improve, whether by adopting more efficient processes or offering better products and services. So, once your business is well established, the next step is to focus on scaling it and start making some serious revenue.
If you’re ready to grow, this article is here to help: the following 6 tips will set you on the path to scaling your online business.
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1. Ask for Help
When it comes to scaling a business, you need to accept that doing it alone is not an option. There’s just too much to do. From client acquisition and lead generation to financial planning and employee management, running a business can be quite overwhelming. To achieve your goals, you need to have business mentors that you can trust and turn to for advice.
Consider working with a business coaching and consulting company. Not sure whether investing in a business coach is worth the cost? Here are some of the specific benefits you will get from them:
- Setting clear goals. Business coaching and consulting will help you think more strategically to see how every move you make brings you closer to your objectives.
- Better focus. A business coach will help you see the big picture and focus on specific areas that need your immediate attention.
- Accountability. A business coach will hold you accountable for the things you need to do in order to achieve your goals.
- Experience. There’s no question you can benefit from someone who has worked with so many different types of business owners and companies.
- Improved profitability. Business coaching will help you adapt easily to the ever-changing dynamics of the economy.
2. Hire Remote Employees
It’s the 21st century so if you ask experts “How to scale a business”, many of them will probably suggest that you leverage the technological advances and augment your staff with remote workers.
Business owners are no longer limited to local talent. Cloud-based and online tools enable companies to collaborate and communicate with their workers regardless of where they are located around the globe.
Hiring remote employees has become popular because it allows companies to reduce overhead (equipment, rent) and it can also help reduce attrition by increasing employee satisfaction.
3. Focus on Delighting Customers
While attracting new customers is important, you shouldn’t forget about the ones that you already have. Why? Because customers are your best salespeople. If you provide outstanding products, services, and experiences, then they will recommend you to others. When you delight your customers they will share that delight and your business will grow.
A study by Nielsen found that over 90% of consumers trust earned media, such as recommendations from family and friends above all other forms of advertising.
Delighting your existing customers doesn’t necessarily need to be a complex, time-consuming task. All you need to do is anticipate their needs and stay with them beyond the point where they make that first purchase.
4. Invest in Video Content
Content marketing constantly evolves and writing blog posts is no longer the only option business owners and marketers have at their disposal. Video marketing is very powerful because it engages more of our senses than still images and words. According to HubSpot, more than 50% of marketing professionals say that video is a type of content with the best ROI.
The 4 most common types of videos are product demos, explainers, testimonials, and how-to videos. For instance, you could consider building in-depth YouTube tutorials, helping people to solve a certain problem. In turn, you will establish yourself as an expert in your niche, which will lead to increased exposure and eventually, improved sales.
5. Work with Influencers
Smart business owners realize that people don’t buy products or services; they buy a solution, brand name, convenience, or simply stuff that makes them feel good. That’s why nearly 60% of the fashion and beauty companies include influencer marketing in their marketing strategies.
Today’s consumers want to feel special and valued, and that’s exactly what influencers do – they put your products in the feel-good zone for their followers. Influencers can be an effective spokesperson for your brand, an excellent way to reach a target audience and improve brand awareness.
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6. Rely on Data
When it comes to scaling your business, data is everything. Avoid basing your decisions on speculation or personal preferences and instead, focus on data that comes from a variety of sources and revolves around your prospects and customers.
While it is important to invest money in things that will help with operations or fulfillment, you should also spend some money on data-driven marketing. For instance, you can take a look at how your customers move through your sales funnel and how long it takes for them to convert. You should also try to figure out how long they remain your customers, what makes them stay or leave, what their pain points are, how they engage with you, what they like about your brand, what the main complaints with your products are, etc.
When you base your decisions on data, you will be able to fix some major issues, such as leaks in your sales funnel that affect acquisition or causes of customer churn. Use your website analytics, customer data, survey responses, and social insights in order to reveal opportunities for taking action and boost the scalability and growth of your organization.
Scaling a business means having the ability to grow without being hindered. It’s not easy but by creating a solid plan, taking action, and staying persistent, you can take advantage of these 6 methods and strategies and start scaling your business.