5 Business Growth Hacks You Need To Know
The aim of any business above everything else is for revenue growth.
Nothing makes you, the entrepreneur, happier than to see your business grow each day.
There are several growth hacks that you can use to skyrocket your business.
Here are five of them.
1. Get To Know Your Customers
Who is your customer? What is their age bracket? What attracts them to your business? These are some of the questions you need to answer as an entrepreneur.
You might ask, “How am I supposed to know their interests?” Well, you can carry out a little research.
Monitor the products that sell more and to whom. Once you get to know the age bracket of interest, you can now stock more things that would keep them coming back for more. Spoil them for choice!
Another way is to ask your customers what they would want to see you stock up.
You can do a questionnaire asking your clients for views on your products and services.
Be sure to make it short and to the point. No one would like to spend the whole day filling up a piece of paper.
Once you get your customers’ feedback, work on their areas of interest and if they point out any failure, go ahead and improve on it.
That way, you will get them coming back, especially when they notice that you took their views seriously.
2. Good Customer Service
You will definitely agree that you find yourself going back to the store where you are treated well. Knowing your customers is not enough.
Treat your customers well. Show them respect at all times. Use respectful language as you engage with them. Listen to their needs.
Try and give a solution to their problem in an empathetic way. Some customers can be annoying.
And yes, you have to control your emotions as you engage them. Don’t let their bad attitude get into you.
Respectfully excuse yourself and call another staff in to handle the situation if necessary.
Especially if you notice that it is getting too much for you to handle, by the end of the day, let them walk out feeling that they are important.
Go the extra mile to ensure that they are satisfied with what you are offering. Come up with monthly offers if necessary. Take time to train your team on good customer care skills.
You might not realize it, but with time, that individual will keep coming back and even tag others along.
Your little acts of kindness and the patience with which you handle your customers truly matters. This may be the business growth hack that no one will ever whisper to you about.
3. Make Good Use of Social Media
Social media is powerful, and it can draw masses of people your way within a short time.
Don’t shy away from opening that social media account for your business. Keep it active. If you are not into social media, hire someone to manage it for you.
Keep posting your products to make them known. Ensure that the description you give about your products is precise and exactly what your customers can relate with.
Social media is one of those growth hacks that can save you loads of cash when it comes to advertising, marketing, and getting honest reviews and feedback on your products.
Most definitely, that good feedback will get more people coming in for your products resulting in revenue growth.
4. Build Your Team
To experience business growth, you need to have a good team in place. Hire a team of professionals, a highly motivated team.
A team that will offer their best to your business even when you are not around.
Make sure that they know the vision for your business and are willing to take that vision and make it a reality.
Motivate your team. Ensure that your team is well taken care of by making sure, for example, that the seats they sit on all day are comfortable.
Find a way of rewarding them when they meet their targets. Empower your employees. Call an expert in a certain field to train them.
Allow them out on seminars. Let them get those skills that will, in turn, benefit your business.
These may sound like small things, but they go a long way in making their work environment conducive and ensuring you have a motivated team working with you.
5. Get Involved In Your Community Activities
The more you give, the more it comes back to you, especially when you do it earnestly.
Notice that big businesses are involved in a lot of charity work.
They have foundations that take children through school, medical facilities that offer subsidies, among other programs to support communities.
You may wonder how you can take in a child and sponsor their education, given your business is just starting out. Start with what you can do. Get your team out to help in a cleaning activity in your community and distribute T-shirts branded with your business name.
You can donate a few books to a school.
Maybe donate a few wheelchairs to the elderly home three blocks down from your business. Just find some small way to give back to your community.
Guess what, in those events, you will get noticed. You will probably meet people from your areas of interest.
Not only people to buy from you but also to build you.
This growth hack will definitely get people attached to your kindness, and in turn, they will find themselves frequently coming back to you, and you are now on the right path to growing your business.
Business growth is a journey that an individual starts in pursuit of success.
It may not be a walk in the park, but with determination, it is possible to make that business a success.
Take one step at a time, fix your eyes on the prize and watch how far you can go. Go ahead and use the above business growth hacks and grow your business to a whole new level, successfully might I add!
About the Author
Eugen Spivak is a multi-award-winning author, business strategist, and a business coach. Eugen is the founder of the Canadian Institute of International Business, an organization focused on a better way to learn business!
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