When you venture into any kind of business (like buying a franchise for less than $1000), one of your goals is to eventually grow or expand it.
You probably have some good ideas in mind yet not be sure how to go about the steps you have to take.
But, how can you help your business grow into what you dreamed it to be?
You can help your business grow efficiently by applying some tips below:
Market Research And Split or A/B Testing
Market research or knowing the trending demands is crucial in growing a business.
It eliminates the risks and increases your chances of succeeding in reaching your business goals.
On the other hand, split testing or A/B testing refers to trying two or more versions of products and services and studying what will work best.
Expanding your business would require triple the hard work, patience, and commitment you had when you started your business.
But, you cannot make quick business decisions just because you think and feel like it.
An affiliate management company must be sought, which can provide you data-driven results to help you grow your business more efficiently.
Here are the following examples of aspects to look at in market research and split testing:
- Does your company logo work well with a plain, white background or a dark color?
- Is it better to have short articles for your blogs or long content?
- What do studies show about using CBD products for pets? Is there relevant evidence showing efficacy before you decide including CBD in your pet store?
Create More Than A Great-Looking Website
Your website is the most important aspect of your business. It is the first thing that a potential customer sees when he visits your website.
Therefore, you have to ensure that your website is not only good-looking, but also functional. It should be intuitive, secure, relevant, and user-friendly.
Check some helpful tips to make your website more appealing and functional:
- Create Valuable Content: Make sure that your site contains new content on a regular basis so that visitors to your site will continue to use it. The more valuable content you provide on your site, the more visitors you will have on a regular basis.
- Make Logistics Clear: Make sure that you have the shipping instructions listed on your website for people to easily find. or they can look at your order form online and order accordingly.
- Empower Your Customers: Your business should have an area for comments and complaints. People usually like to make reviews about the products and services that they have purchased from you so that they can let other people know how they felt about them. If they can give you constructive feedback, it will make it easier for you to build relationships with your customers and provide you more opportunities to grow your business.
Monitor And Learn From Your KPI
Key performance indicators (KPI) will give you an idea of where your business needs to focus on to achieve higher levels of success.
For example, if you are selling carpet cleaning services, you need to look at the areas in your company that are being neglected.
By looking at the statistics, you will know where to focus on to improve your sales and customer service.
Metrics such as the number of calls made and received are commonly used in the assessment of customer service and sales.
This type of data would give you a good idea of how efficiently your team is performing.
Also, other metrics or KPI may include website performance in terms of the following:
- Website traffic
- Clickthrough rate
- Bounce rate
- Online sales
You can monitor your KPI without spending that much. Use Google Analytics or your website account dashboard for free to perform this task.
Create Your Buyer Persona And Audience Segmentation
Every company needs to understand that it’s important to create a buyer persona and audience segmentation.
The most effective way to grow businesses is to identify your target customers.
They don’t come out of the blue.
If you can identify what makes your customers tick, you will know exactly what they want, what their needs are, and why your product or service can meet all of their needs.
Take a look at some of the benefits of creating your buyer persona and segmenting your audience:
- You can find out what audience segment your customers belong to and what the top reasons are that lead them to you. With this information, you can make the necessary changes to your product or service to keep them coming back.
- You can identify potential problems or weaknesses that you need to address. The sales process doesn’t always work the way you think it does, but you do have to keep in mind that the buying habits of your customers can make or break your business. So, you can’t take chances.
- The information you’ll learn from customer segmentation can be used to determine which types of products and services are popular and profitable and which aren’t.
Grow your business more efficiently by creating an appealing and functional website, which you can use as a great sales and marketing tool to reach more people and increase your sales.
Also, monitoring your KPI is another way to determine your strengths and weaknesses so that you can make better business planning strategies.
Creating your ideal customer or what is termed as “buyer persona” and segmenting your audience can help you make sound business decisions by prioritizing your customers’ needs.
In addition, market research and split testing are useful instruments to determine if your business ideas are viable to be used in growing your business.