Would you like to expand your customized leather goods business? Are you thinking of how else you can promote your handmade stuffed dolls? How would you like to gain more customers outside of your local community?
From exploring how to start selling internationally to maximizing the power of word-of-mouth marketing, there are ways that you can use to expand your business. Read on and discover how to enlarge your empire.
As a startup, some entrepreneurs are apprehensive about expanding their business. The thought of maybe shelling out more money or doing something they have never done before may be hampering their business’ potential for growth. Perhaps, going out of their comfort zone renders them paralyzed in fear and, therefore, unable to make decisions that can propel their venture to greater heights.
If you have a startup, then the first thing that you need to get rid of is the constant fear of failure. You need to be confident enough in your brand, product, or service so you can face the challenges that you may encounter. Remind yourself that you are in business because you want to earn, and for that to happen, you also have to invest time, effort, and resources. If you are too timid to make the first step, then perhaps entering the world of commerce is something you need to rethink.
For those who would like to explore other avenues on how to promote and sell their products or services, there are several ways by which you can develop and grow your business. Investing in critical services like seeking the expertise of a brand consulting agency, looking for reputable partners and suppliers (e.g. a reliable freight forwarding company), or setting up information technology systems to aid in daily operations, must be seriously considered.
To start you off on the right foot, here are some simple tips for expanding your startup business:
1. Identify and focus on your core strength
Whether you do it with your business associates or you have consulted a brand consultancy firm, you would do well to identify your company’s strengths and weaknesses, as well as the opportunities and threats that might present itself. Doing so will lead you to understand your business better, discern which pathways are most beneficial to your company, and guide you in creating a sound action plan that will help you achieve your business goals.
Discerning your core qualities and points of differentiation will help your business stand out from the rest of your competitors. You must have a unique selling proposition that will address the needs of your target market. Leveraging your strong points will help pave the way to generating more leads, and achieving sales targets.
2. Maximize online opportunities
One of the most valuable and relatively low-cost strategies that you can use for expansion is to maximize the use of digital technology. Online tools such as websites, social media sites, email systems, or cloud technology are channels that you can utilize to expand the reach of your business.
There are 4.54 billion active Internet users around the globe, and with the advent of technology, reaching them is now a possibility. Build a simple yet striking website that will attract the attention of your customers.
Let compelling content and relevant messages hook them in and propel them to choose you over your rivals. Create an interactive social media platform that will help establish rapport with your current and prospective customers while promoting your brand.
Let the tendrils of technology stretch to the far corners of the world, introducing your offer to an expansive market.
Are you selling one-of-a-kind footwear? No problem. Just post it online, promote it on social media, and be ready to send it through a dependable freight forwarder to places across the ocean. International sales is made easier and faster thanks to online technology.
3. Create lasting customer relationships
When you have a concrete brand and business strategy in place, you have a solid foundation for launching customer relationship programs aimed at satisfying and delighting your target market.
Investing in worthwhile, relevant, and relatable experiential activities is a golden step towards attracting and getting customers for life. Promptly attending to their needs, hearing them out, and providing fast and effective solutions will help your company nurture lasting relationships with them.
When you have a loyal fan base, you can also look forward to enthusiastic word-of-mouth recommendations and referrals. This is a cost-effective way of advertising, letting your customers be your own brand ambassadors and spreading the good news about your business.
Go out of the box
When you want to expand your business, you must also be ready to get out of your comfort zone. You also need to find the right suppliers and service providers to support your business.
Knowing who you are, who your market is, what your strengths are and the various channels available you can tap into are some of the other vital steps that you need for a successful journey.
As Chief Product Officer for Shipa Freight, Paul Rehmet is responsible for translating the vision of Shipa Freight into an easy-to-use online freight platform for our customers. Formerly Vice President of Digital Marketing for Agility, Paul managed Agility’s website, mobile apps, content marketing and online advertising campaigns. In his 25-year career, Paul has held various technology leadership positions with early-stage startups and Fortune 500 companies including Unisys, Destiny Web Solutions, and US Airways. Paul has a Masters in Software Engineering from Carnegie Mellon University and a Bachelor of Computer Science from Brown University. Paul is based in Philadelphia.