Small Business Growth: 5 Proven Methods

1. Become familiar with your customers

Your customers’ needs and interests are vital to your business. During the development of your business plan, you identified a target market. In order for your business to grow, you need to engage with your active customer base.

You must ask for honest feedback through a quarterly survey, user reviews, or direct customer service communications. Make sure you pay attention to complaints from your customer base and use those to launch new features, adjust internal processes, or fix anything else you need to.

In addition to listening to your customers, you should also look at your competitors and the market. Maintaining a regular market analysis keeps you informed about any competitive moves and how different economic events may affect your customers. It provides a clear picture of potential growth opportunities when combined with insights from your customers. 

2. Ensure that customers are taken care of

Your current customers may fall by the wayside as you seek to grow your business. You don’t want your efforts to grow to lead to customer churn, which is a part of doing business. People are likely to leave if they have a negative experience, so you don’t want to compound the problem.

While focusing on quality customer service can be a direct path to growth, it can also create a competitive advantage. It is more likely that your current customers will leave positive reviews, recommend you to their friends, and purchase from your business again if they receive exceptional service.

3. Make current customers more valuable

We tend to focus on attracting new customers when looking for growth opportunities, but what about our current customers? Due to your credibility, they’re more likely to buy from you again or even pay more for additional services. Make the most of your customers by extending their value. Complement previous purchases with new products. If you believe that your customers will value additional features, hands-on direction, or other additions, you can increase the price of your service. 

It doesn’t mean you can’t extract more value from an established target market just because you have reached the limit of growing it. Increasing the value for current customers may serve as a springboard for bringing on new ones.

4. Make use of social media

Getting started with social media can be intimidating. Taking advantage of social platforms doesn’t require you to have any experience with them. An online business profile can be the first step towards building a community of customers.

The most important thing is to maintain a consistent schedule that your followers and customers can expect from you. You don’t need to post every single day or even create amazing images and videos. Afterwards, you’ll need to build your social brand by actively engaging with followers, reading comments, and responding to messages.

In general, it provides insight into your customers and helps you identify trends. The insights you gain can even be used to run social ads if you wish. You can test promotions, gauge the interest of new customers, or even run a full-fledged digital campaign with this method. The process is simple and inexpensive.

5. Develop your team

Your sales and customer base will typically grow as your team grows. Providing exceptional customer service means focusing on the quality of your team members, just as you must focus on providing exceptional customer service. 

Identify diverse voices that can not only fulfil the duties of the role, but also challenge your own perspective. If you have a staff full of “yes men,” it can lead to a poor internal culture and self-serving decisions. Different backgrounds, experiences, beliefs, and specialties contribute new perspectives that wouldn’t be possible without a diverse workforce.