Have you been running your business for a while, and are starting to think about how to level up your business? You are in the right place, because SMEBrother has prepared several ways that will lead to guaranteed business growth, especially for business owners who want to scale their companies to the next level. There are several types of strategies that you can do, you can choose one, or even all of them that work for you and give it a try. If you are ready to advance your business, here are some ways to advance your business as much as possible.
How can I improve my business?
There are many ways to improve your business, especially for those of you who are thinking about how to level up your business. You need to understand what your customers or market want, make sure the quality of your goods and services is guaranteed, advertise or market your product effectively through various channels, and evaluate what you do with your team, see what can be fixed and what still needs to be done. You and your team must remain relevant and have the same goal, because the key to the success of a business is having a solid team and exchanging ideas to advance the business together.
Is it hard to level up business?
Yes, sometimes leveling up a business can be challenging. With the advancement of technology, increasingly tight price competition, raw materials and resource prices that continue to rise, many businesses find it difficult to find a way to level up. This can be done by combining consistent effort, strategic planning, adapting to market changes, monitoring competition, and maintaining customer service.
A brief explanation will not make you feel enough to understand how to survive and level up in the broader market. We will provide several ways to level up your business below.
Top strategies to level up your business
You can take references from us, if there is something you have not done, because there are so many things that can be done in business, which you may have never known before or want to maximize the experiment for things that can bring positive results in your business. Let's look at some strategies that you can implement directly in your business.
Invest in your team
As we said earlier, company progress can be achieved if you have a solid team and have adequate individual skills. After you can make the team put together, you need to establish the company culture in your organization. With positive team leaders and workforce, you can ensure that every step you take will produce positive results. You can ensure this by investing in their growth and development, by offering online courses, webinars, and any training access for upskilling.
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Communicate with each team member about what they want to learn according to their field, how to learn that motivates them to be more enthusiastic and more productive, work with their strengths and build up their weaknesses.
Taking care of customers
Customers are the most important value for every business. You need to take care of them, put yourself into customers' shoes and value your process based on their eyes. Is there anything you should change and add to your products and services? Focusing on customer experience will have a positive impact on your business and retaining customers. Think with your team how to maximize customer service, how to maximize your products and services according to consumer needs, and think about how to make customers loyal.
Willing to adapt
To reach a new level, entrepreneurs must move quickly to stay on the latest trends and accommodate changes according to the market, determining whether it is suitable for the business being run or not. Willing to adapt is a must, because if a business stays in the same place and does not want changes, it will lose to competitors and not understand what opportunities can be achieved in the future.
There are several ways that can be done to deal with change, such as being proactive in creating a solution when there is a problem, being transparent with the team and doing collaboration, making a regular habit for what can be changed every once in a while, taking steps to overcome some mindsets that are holding you back.
Dream big
Set stretch goals to help you push yourself to victory. Don't be afraid to set big goals, because if you only set easy goals, your company might survive, but it won't grow quickly. Step out of your comfort zone and set for something high. That way, you won't think what you can achieve if you can push your limits. Think about what level your business is at now, project how your business will be in five years and its various possibilities. Don't let yourself be the obstacle to your business progress. Always believe that success is within your reach, plus prepare everything to achieve that big dream.
Social media awareness
Social media is a powerful tool for leveling up your business. Pay attention to which social media has the highest traffic, and focus on that platform. Always connect to your target audience, engage with your audience through posts, messages, or videos. With consistency and good content, you can become famous because you are a brand that provides valuable information and solves audience's problems. Although this takes a long time, if you have good brand awareness on social media, more and more people will see your valuable content, see you as a reliable and high-value brand.
There will always be room to advance to the next level in business. Hopefully our leveling up strategies will help you to shorten the time to success and get good results. Focus on your vision, always be aware of what is happening around you, continue to add inspiration and knowledge to continue to survive and become better in the field you are running. Don't forget to see information about other businesses on the SMEBrother website, because we provide a variety of valuable information about SMEs, auditing, loans, business licensing, and much more.
Small businesses need effective marketing to attract new customers to build brand awareness and drive growth. But because budgets are often tight, large-scale digital marketing initiatives such as print campaigns or ads will be expensive for small business owners. So what's the solution? Low cost marketing strategies. For small businesses, implementing affordable marketing strategies is not only a necessity, but also a smart way to maximize business development without having to burden financial resources. This time, SMEBrother will explain what businesses can do to start low cost marketing and how this strategy can guarantee sustainable growth and attract new customers.
Why is a budget important in marketing?
Marketing budget is crucial for small businesses to ensure growth sustainability and determine strategies that can minimize business losses and eliminate unprofitable campaigns. Small businesses need to track their marketing budget because they need to focus on impactful strategies without overspending. A well-planned budget will ensure businesses stay within estimated costs and allocate funds effectively.
Especially when businesses want to implement low cost marketing strategies, budget calculations and targets must be aligned to match the targets they want to achieve.
Why do we need to save costs for marketing strategies?
Small businesses need stable costs to ensure everything runs smoothly. When the brand is still not widely known, the thing that needs to be done is saving costs for marketing strategies, because even though the business needs big awareness, it must still think about the existing budget and costs. Doing marketing strategies recklessly and unprepared will waste many opportunities and reduce possible returns.
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Spending money on marketing is needed to support sales and growth goals, but you have to think about saving costs for possible mistakes or for savings. The main thing for saving costs for marketing strategies is maintaining cash flow, and businesses need to continue testing and experimentation. Cash flow is the lifeblood of a small business, because it requires funds available for operational costs, and maximizing marketing methods with as little budget as possible. This needs to be done until the business is at a financially stable point.
While testing new ideas or experimenting marketing strategies, you can start with low-cost marketing tactics to try out multiple strategies while measuring the effectiveness before committing to a more expensive method. To start from almost free to low cost strategies, we have prepared several ways for you.
Low cost marketing strategies to attract customers
Low cost marketing strategies doesn't mean the strategies have bad effects. We've gathered some of the best strategies that don't require a lot of resources or time, because we know that the amount of time it takes is the same as the cost of money. Let's take a look for a few tips below:
Giveaway items
Potential customers or loyal customers are happy when they receive something free and useful from a brand. You can use this method to attract new customers by giving some low-cost items with company logos and can be used by recipients in their daily needs. For example, you can give some useful items such as umbrellas, notebooks, pens, power banks, key chains, USB fans, hats, T-shirts, or drinkware. You can put the company logo in the middle of the item as a reminder of who gave the item and to become brand awareness when someone sees it. You don't need a lot of budget for this because you can do bulk orders and get cheaper prices from vendors but still make sure the items you choose have good quality.
Engage on social media
Social media is a free way to grow your small business plus express your brand's personality. By engaging with your followers, you can build trust with them and let them know anything new about your product or service. Create business accounts on various social media sites such as YouTube, Facebook, LinkedIn, Instagram, etc. All social media will increase traffic to your website when you promote your blog posts, directly dialogue with your audience to gain more engagement, request feedback, and create informational posts to attract more potential customers.
Go to networking events
Building network is important for growing business reputation, finding new business opportunities, and building relationship with other business owners. You can attend seminars, job fairs, workshops, and participate in local community events. If you have many relationships, you can collaborate and work together to attract broader market in a short time.
Create a customer referral program
Create rewards for referring new customers. Word-of-mouth is one of the strongest long-term marketing strategies. Start by rewarding customers who refer other customers and make new sales. The opportunity for new customers is higher than through recommendations, because more than 60% of consumers are more likely to buy a product if their friends or family recommend it. Plus, referred customers have a higher chance of staying with the product or service.
Publish great content
Content marketing is one of the marketing methods that does not require a huge budget. You can create high-quality content by answering the questions most of users are asking. Making your website more visible on Google will attract broader markets, more free traffic, and increase the potential for new customers. Good content helps your audience with their problems, plus you can direct them to use your services or products.
Marketing strategy is needed by small businesses to increase engagement and attract new customers, but it doesn't need to use a large budget right away. You can start with a low-cost marketing method while experimenting with several ways before doing bigger campaigns. Make sure the budget remains measurable and on target to increase the possibility of new customers and maximize ROI.
SMEBrother is ready to provide other tips in advancing small to medium sized businesses. Visit our website for other marketing ideas for any business. We will help you to tackle any problem in financing, tax accounting, opening a business, auditing service, loan for business, opening a bank account, and many more.