Three incredbile ways to Grow a Small Business
No business can survive without making a profit. Take my word for it. But profitability is just one side of the coin when you think about the success of your venture. The other is its potential for growth.
You must be wondering how entrepreneurs go about expanding their businesses and increasing their markets? Let me share a little secret on how to grow a business with you: it’s all about lead generation.
That’s right; it’s as simple as that. Generating new leads is the single best solution for opening your business to new opportunities for growth.
Here are 3 ways to grow your business and boost your bottom line.
1. Penetrate the Existing Market, Here’s How
Take a closer look at your local market. Do you spot any unexplored opportunities for lead generation? If so, it’s your call to penetrate this market further and uncover a hidden goldmine of leads waiting to be led down the funnel. You can use different channels to do that.
Optimize your website and invest in SEO to make sure that your target can easily find you online and gets a great online experience with your brand.
Another way to help potential leads find you is providing them with practical and engaging content. Content marketing powers business growth, so experiment with different formats and build the status of your business in your niche.
You should also try direct outreach tactics like cold calling or emailing.
Cold emailing works best for engaging new segments of your local market. But planning and executing a cold emailing campaign is bound to take up plenty of your resources. If you need some help with that, don’t hesitate to get in touch with us.
2. Go Overseas
Engaging prospects in your local market is a piece of cake. But don’t forget that one day your clients might turn to overseas providers who offer a similar product or service for a lower price.
Mitigate this risk now by taking your business growth abroad.
How to choose your new target market? You’re probably thinking about the US or the UK, but let me tell you this: these markets are overcrowded. Companies all over the world are trying to sell to prospects located in these countries.
Instead, start your expansion in locations where your product is unique, needed and affordable.
To make it on the international market, you need a good command of English among your sales and marketing teams. To grow your business, make sure that your brand message and product should be understandable to clients in foreign markets.
Building trust is a priority when reaching out to clients in other countries. You need solid social proof that you deliver to your promise. Include client testimonials and case studies on your website to build that trust.
3. Combine These Two Strategies Into a Powerful Growth Tactic
Is it possible to penetrate your local market and expand your business to the global market at the same time?
But can it help my business grow? I’ve heard this question many times over. Here’s what I’d answer every time: yes, that’s a feasible way to grow a small business. In my experience, even a small business can develop a robust growth strategy based on this clever combination.
The secret ingredient that makes it all work is direct outreach via email. When executing your cold emailing campaign, you can reach both local and foreign clients without breaking a sweat.
It doesn’t matter if the client is located 20 or 2000 miles away from you.
Your email is going to reach them anyway, giving you a chance to expand your business to foreign markets without the stress that comes with cold calling.
Growth is Critical to Your Bottom Line
There’s no denying that your business needs to bring profit.
But business growth is just as important for your survival. You can only go so far penetrating your local market. No market is limitless, and you’re bound to exhaust yours at some point.
That’s why cold emailing should be your first pick for direct outreach. Combine these two ways to growing a business and invest in an emailing campaign to engage prospects located in every corner of the world, including your backyard.
That’s what I call a robust strategy for growth.
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