Just like a gardener wants a garden to grow, and his flowers blossom, every business owner wants to see his or her business thrive and grow. As a business owner, you want to achieve your goals, meet your targets and realize your dreams. Well, who doesn’t? Everyone intends to achieve what they set out to do; that’s why they start in the first place. For most business owners in 2021, many desire to forget very quickly; however, despite their desires to, the effects of the pandemic and all that it brings still lingers on and stares us in the face.
2021 was undoubtedly a turbulent year, as business owners faced several stresses and challenges trying to keep their businesses afloat. A report shows that at least 92% of small businesses had to reinvent themselves to stay in business during the covid-19 pandemic. The truth, covid-19 is being dealt with, businesses are reopening, and normalcy is returning to businesses across the globe. Even with that, our lives have changed, and things will never be the same as the pandemic has presented us with several options and opened our eyes to things we had no idea existed. With the devastating effects caused by the pandemic on small businesses, how can small businesses hope to thrive and grow in 2022?
As a result, this article intends to share five tips for small businesses to grow in 2022. Some of those tips are:
Concentrate On Building Long-Term Relationships:
American auto executive Lee Iacocca: “Business, after all, is nothing more than a bunch of human relationships.” He is absolutely right! Small business owners want their businesses to grow for the long term. To achieve this, they must treat their staff, customers, and potential customers with this intention in mind. A business owner should strive to create a long-lasting relationship with his customers as they’re the ones that keep the business running. Therefore building a relationship with them means that you have gained a customer for life. In the same vein, if you are a service-based business, having a strong relationship with your customers helps you understand their needs and serve them better. Often this leads to better services in terms of quality and delivery, which further enhances the brand and helps expand your base as a business. You could also use paystub maker to create pay stubs for employees and build a stronger relationship.
Furthermore, growing long-term relationships in business are also vital in developing brand and customer trust. A report shows that at least 55% of customers buy from companies they trust. Another study shows that 69% of customers do not care about advertisements, thereby underlining the importance of relationships in customer brand development. Furthermore, with the cost of customer acquisition soaring by 50%, referrals are an excellent way to grow your business and save costs. Off the back of a challenging year, you need to save every penny you can through customer acquisition. For employees, treating them with value helps increase the input and productivity within your company.
Concentrate On Your Core Customers:
With a wide spectrum of customers available to you and competing for your attention, it’s important for you as a business owner to know your core customers. Core customers are customers who are genuinely interested in your service or products. Although it is great to attend to all your customers and give you equal attention to them, it is impossible to pay attention to them equally. Therefore it is important to prioritize the core customers, satisfy and retain them.
Harness The Power Of Social Media:
If you’re looking to grow your business in 2022, then social media is your best bet to make it happen. Statistics show that at least 52% of the brands discovered every day occur on social media. As a result, many big companies have paid millions of dollars to harness its power. Therefore, as a small business owner, you must not be left behind, as the majority of the population (16 to 35) process great purchasing power. You could outsource your web development to build a website that is engaging and interacts through social media. Influencer marketing is a powerful tool to harness for your business, as most people who have noticed a product on social media do so on an influencer’s page. Furthermore, brand visibility in social media also helps identify the demography of the people interested in your products and helps you target them.
Nothing enhances and drives customer loyalty like direct communication and great customer service. Indeed the benefits of having a great social media and online presence are huge in today’s evolving market. However, people still like to put a face to the brand and enjoy engagement or communication directly. One of the best ways to get this done, even on social media, is to use direct messages on platforms such as LinkedIn or Instagram. A study shows that 47% of millennials use Instagram more as a texting app, particularly relevant to businesses.
Furthermore, people also respond well to businesses engaging in conversations or discussions. Twitter is a classic example of a platform where conversations are held. It’s always shown that 77% of Twitter users respond well when their tweets are responded to or acknowledged. Therefore it is important for small businesses to consistently engage their social media platforms to grow.
Roll Out Precise Offers:
Although many people spend a lot of time on social media, many businesses have not fully grasped the benefits of social media. With tons of content on social media spaces, you need to be specific with your offer as a business owner. Nobody likes to be flooded with direct messages that do not appeal to him or her. Therefore it is important to have messages that appeal to the client, backed up with statistics or testimonials.