Streetsmart insurance Blog
It feels great to finally have your own business and be your own boss, right? After doing all the research and spending your time and talent in this venture, it’s already up and running.
The next logical step for you now is to expand it and make sure your business stays ahead of others.
Here are four doable ways to grow your business without breaking the bank.
1. Reach out to your Target Market.
It’s more cost effective and easiest to promote your business to existing customers than getting new ones. Try to get their contact numbers and email addresses so you can inform them about new products, services or promotions. Add them to your mailing list, ask them to like and follow your social media accounts.
2. Ask for Referrals.
Set up a program for existing customers and reward them with gift cards, coupons or freebie items for every purchase or referral. This will ensure that any promotional cost relates to actual revenue for the business.
After every sale or service, always ask your existing customer if they could refer your business to someone who might need it.
Listen to your customers’ recommendations or suggestions. If they are looking for a product or a product variant or a service that you are not providing yet, or something that will add value to your product, you can expand your product line or service.
This will also be a good way for your customers to know that you value their input.
4. Extend Your Market Reach. Having a strong online presence is great, but do not forget the basics of connecting with your customers by building relationships and meeting people for business prospects. Join trade shows, put up kiosks or new stores in different areas.
Encourage participation on your business’s web page or social media account. Promote your business by allowing customers to know more about your company, shop online, download something, contact you, share their experience, or anything that would entice your site visitors to a call for action.
5. Streamline Internal OperationsEnsure that there is very little waste in the process. Review and enforce business processes that allow production or enable employees to perform their tasks, efficiently. Update processes when necessary. This promotes employee satisfaction.
Establish workflows that have predictable outcome. Systems are updated and properly maintained.Contingency plans should be in place in case a system breakdown occurs.
Businesses needs protection at all times and this is where insurance comes in. At StreetSmart Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (732) 462-8343 or Click Here to request a free quote.