The first step is done! You’ve just crossed-out “start a business” on your checklist. It’s up and running! Now you want to proceed with the next step which is growing your business. It’s your goal in the first place. But what if your budget is tight? Does it mean you need to wait to make more profit first? It’s not wrong to do so. However, successful businesses know that profiting and growing should be done at the same time. In fact, the budget is not an issue as there are ways to grow your business in situations like that. Here’s how…
Pump Up Your Online Presence
Nowadays, people spent a lot of time online. So if you want to reach your target market and expand, build up your online presence. Make your website user-friendly with a design that is attractive, engaging, yet simple. Also, it’s important to add call-to-action stuff on your website. For instance, add stuff that they can buy online, or download on your website, etc. Basically, give your audience reasons to stay longer on your website.
Aside from that, it’s important to keep your audience updated on your social media pages. Make it more active. Post exciting things about the product. Reply to messages and comments. Open a contest to follow your pages or share your content with rewards such as getting featured on your page, or freebies with related promotions.
You can also start growing your email list by offering incentives. Have them sign up and win freebies by doing so. That way you’ll let them know what your company is all about. Just make your freebies are related to your company or products to upsell even more
Target Market Reach Out
Look for events where your target market gathers. We’re talking about conference, networking, and even fan’s day events. Grab the opportunity to advertise your products or services on the said events. Make them feel your presence and create a relationship with them.
Set up a program that rewards customers who refer new customers. It can be in the form of cash, discount vouchers, gifts, freebies, and many more.
Prioritize Business Growth
Let’s say you can live without spending the profit made with your business or without a salary… put the money back to your company as additional capital. Aside from that, you can put it to business insurance or safety stock so your business growth is safe from any unpredictable threats.
Look for investors or partners
Look for someone or a company that has an interest in the same target market. Invite them to invest in your company or partner with them. Just make sure that your product is doing well to do so or it’s promising. It might take a lot to convince these people to take the same road.
If you want to advertise but you’re thinking about your budget– consider hiring an influencer to promote your products on social media. There are influencers who accept promoting products at a lower cost or in an exchange of a product for free.
Those ways and workaround to grow your business on a budget are as effective as to how much you can commit yourself for it. Your success still depends on you. Keep in mind that there’s always a workaround if you do some research, and believe in yourself that you can do it.