Starting a business can be a challenge but growing it into a long-lasting enterprise is something else entirely. Anyone can decide to set up a business but few have the smarts and ambition to cultivate something with actual legs. However, by following the tips below, you stand a better chance than most at growing your business.
Social Media marketing
Accessing potential customers through social media is perhaps one of the most organic ways to branch out and find a new audience for your business. All it takes is creating a social media page and keeping it stocked with content that is relevant and engaging enough to draw followers. Of course, as you scale you are probably going to want to hire a social media manager to take care of that side of the business full-time, but in the beginning, you might be able to get by controlling it yourself.
Social Media advertising
Social media also offers plenty of avenues for more traditional advertising. If you’ve ever spent even a small amount of time on social media you must have noticed it was full of advertising. This is generally quite affordable and is great at bringing more people to your social media profile that might not have seen it otherwise.
If you have an online site for your business then SEO (search engine optimisation) is essential for its growth. This will bring more traffic to your website and help you to be found online by optimising your site and making it is easier for Google to find and rank it.
PPC (or pay-per-click) is a form of marketing that can be used to bring a more targeted demographic to your site. When done correctly this is great for increasing sales but it can prove costly. Because remember, you are paying for every potential customer that clicks on your site but just because they click on it that doesn’t necessarily mean they are going to buy anything.
Mergers and acquisitions
One of the fastest ways to grow a business is by conducting a merger or acquisition. This means you are either merging with or acquiring another business and amalgamating those two businesses together, instantly growing your business substantially. If you merge with or acquire another business, you’ll be joining forces with all their employees, clients and facilities without having to put in any of the groundwork yourself. However, these processes are often expensive and complicated, so it might not be a realistic proposition for a business that’s just starting out.
Viral marketing can be one of the most difficult forms of marketing to predict but if you're able to find that sweet spot then it’s just about the most powerful form of online marketing on the planet and can lead to rapid business growth. There is no exact formula to going viral. If there was then everyone would be doing it. But you can increase your chances by working on campaigns that are relevant and ‘on-trend’ with what’s currently happening in the wider social zeitgeist.