If you’re running your own business, you’ve probably already thought about expanding it in some way—whether that means opening another branch or signing on more clients. To make more money, you’ll need more customers. It doesn’t mean a larger customer base automatically means making more money—more customers can mean lower profits if you aren’t doing things right. But growth is always good when it comes to business, and there are many strategies for growing your business.
If you want a business that already has a guaranteed expansion, you can always go for franchising. A franchise essentially buys into an existing business and benefits from its work. You’ll have to pay fees upfront, but you won’t have to spend time building up a client base or building your brand. There are big pros and cons of going down the franchise route; it’s best if it works well with your needs as an entrepreneur. Some recommended ones are in the food and real estate industry. A home building franchise can be a great opportunity that comes with building houses, overseeing subcontractors while managing your funds. It will be a lot of hard work, but less so than starting everything on your own. You might consider taking over one such franchise instead of starting fresh—you may be able to get good guidance from someone who knows what they’re doing.
Here are ways to expand your business that aren’t necessarily franchising. It’s important to note a lot of these will cost you, but they don’t always need to be significant investments. There are many small moves you can make towards expanding your business. Think of these like steps along a staircase. You’ll want it to be steady and natural, so you can get exactly what you want out of growing your business.
Connect With Influencers
The quickest way to grow your business is through connections with influencers in your industry. Building meaningful relationships with other players in your niche can lead to new opportunities for partnerships, collaboration, and more. You must align with like-minded people. Also, target people that influence a large audience. Look for industry leaders and up-and-comers on Twitter, Facebook, Instagram, and LinkedIn.
Attend Conferences
Attending local business conferences is a great way to learn how others are running their businesses, get in touch with your industry’s top professionals and start networking. Conferences can be expensive, but it can also serve as an excellent starting point for expanding your client base, portfolio, and skill set. Plus, they’re a great opportunity to network with potential new clients.
Create More Content on Different Topics
Content is key to building a brand, and one of the best ways you can expand your business is by creating more content on different topics. For example, you could write an eBook about customer service strategies specific to your target market or industry. Or, you could create how-to videos for each of your services tagged for easy discovery via social media. The possibilities are endless!
Advertise Through Facebook Ads
Facebook is a great place to advertise for e-commerce businesses since you can target specific demographics in ways that traditional advertising can’t. For example, if you sell tech gadgets and want people interested in buying Apple products, Facebook will allow you to show your ads only to people with that interest—no matter their age or gender.
Build High-Quality Landing Pages
If you have a product, service, or event that’s new, you should consider building an effective landing page for your marketing campaigns. A landing page is a standalone web page devoted to drawing visitors in and selling them on your idea. These pages give visitors only what they need: information about how they can purchase your offering or find out more.
Invest in Professional Photos and Videos
If you have a physical location and customers can visit in person, investing in high-quality photography and video is necessary. High-quality images that capture your brand story and show off your products will make customers more likely to shop with you. It translates into more traffic and greater sales for your business, so don’t put it off any longer.
Get More Endorsements
If you’re trying to expand your business, it’s a good idea to make sure you have someone who can endorse you and your products. Endorsements from well-known people can be more credible than a random marketing campaign—and they also often attract more followers. When expanding your business, especially online, try looking for celebrities and influencers and attempting to partner with them on projects or endorsements.
If you aren’t growing your business and bringing in new customers, your business is dying. It’s a simple fact of life in every industry—and, yes, that includes yours. These seven strategies will give you ideas on how to generate leads and bring in new clients who will love doing business with you.
