5 More Ways Business Owners Can Grow Their Business in 2019

May 21, 2019 12:40:03 PM

It would be nice if business growth happened organically, but in most cases, any organic growth business experience happens slowly, which is why business owners like yourself should consider the different ways the can stimulate business growth in 2019.

Don't Have a Value Proposition? It's Time to do it!

Your business's value proposition is a written statement that outlines what sets your business apart from your direct competitors and why customers should purchase from you. Even though the value proposition is a key component in a business's brand image and marketing strategy, a surprising number of businesses never create a value proposition. The failure to have one can make it difficult for the business to experience future growth.

 

What to Include in the Value Proposition?

The information you to include in your value proposition is:

  • The quantified value of the benefits consumers receives from your business
  • The relevancy of your product/service to consumers
  • An explanation of the unique ways your business differs from the competition

Keep redrafting your value proposition until it is a fluid read at which point, post it on your website's homepage as well as the landing pages for all your sale funnels.

 

Take Advantage of Your Talented Employees

Your employees are more than just people who complete the business-related tasks you assign them. They're the face of your company and just as important as your brand image. If utilized properly, they can also be the key to your 2019 business growth. 

Take a long look at your employees. Read through their resumes. Ask them what aspects of the business interest them. You may find that a large portion of your team has skills and talents you can utilize to make your business run more smoothly than ever before. 

Use what you've learned and apply it when you're hiring. You want to invest in talent. Don't just look for somebody who meets your current needs, but someone who has the skills you'll need once your business grows.

 

Have you Been Considering Developing Products? Now's a Great Time to Start!

Has your business experienced steady product growth over the past few years or has your business hit a plateau? If you've plateaued one launching a new product is something you can do to trigger a new surge of business growth. While there is some risk connected to developing and launching a new product, there are also some great rewards, which include:

  • Increased revenue
  • New marketing options
  • Opportunities to establish yourself as an industry leader
  • Network building
  • Increased market share

When it comes to taking your business and shifting it to a more product-based development, you'll want to memorize the seven-stages of product development.

  1. Idea generation 
  2. Developing an idea into a solid product concept
  3. Developing the product
  4. Market testing
  5. Commercialization
  6. Launching the product
  7. Post-launch analysis and marketing

 You can choose to handle every single aspect of new product development in-house, or you can decide to outsource some parts.

If you feel that developing a completely new product is too risky, you may want to opt for redesigning and branding one of your current products that haven't been garnering many sales. A good product redesign can trigger as much business growth as developing a new product.

 facebook profile on apple iphone

Stop Ignoring your Facebook Business Page

Yes, Facebook does have issues. Yes, the number of people your posts reach through organic means is limited. Still, you shouldn't ignore your business's Facebook page. When push comes to shove, with more than 2.23 billion monthly active users, Facebook still has the most active users per month than any other social media platform. You can't afford to not use your Facebook business account to promote your brand and products/services.

Happily, there are things you can do to get the most out of your Facebook business page. 

 

Resist the Urge to Make All Your Facebook Posts Promotional

Instead of posting nothing but promotional content, post things behind the scenes glimpses of your business, bits of trivia, and educational content. These are the posts that are likely to generate engagements and shares. Keep the number of promotional posts to 20% or less.

 

Get Serious About Facebook Advertisements

Create engaging ads that promote either your product or business and run them on Facebook. Measure your ads every 24 hours and tweak them for optimal performance. Set aside a minimum of $100 for your Facebook advertising campaign.

 

Webinars are Awesome Marketing Tools

Webinars are a great way to generate interactions with your page. Educational webinars hardly cost anything to put together and run, and Facebook users love them, making them a brilliant form of advertisement with a high ROI. A Q&A style webinar which is fun for both you and your audience.

 

Take Advantage of Facebook Insights

Facebook Insights does an excellent job of compiling data that helps you get the most out of your business page. Paying attention to the data allows you to target both your posts and advertising efforts to the most responsive audience. When utilized correctly, you'll find that both your organic and paid posts generate higher engagements, which in turn, results in Facebook driving more traffic to your website.

The type of data Facebook Insights provides business owners includes:

  • Who has engaged with recent posts
  • Audience behaviour, including buying patterns
  • Who reacted to posts about live events you've hosted
  • Traffic sources
  • How videos and paid posts performed

While you're working to improve your business's Facebook page, you should also look at how you can boost your marketing efforts on other social media platforms.

 

Host Live Events

Live events are a great way to promote your company and also lay the foundation for business growth. Your loyal customers will love an opportunity to get to know you better, and thanks to live streaming, you can even promote the event on your favourite social media accounts. 

Good reasons to have a live event include:

  • Fundraisers
  • Product launches
  • Customer appreciation events
  • Trade show participation
  • Community events
  • Business milestones

What steps do you plan to take in 2019 to help your business grow?

Enjoyed this article? Click through to our E-Book, An ultimate guide to Sprintat Development for Business Owners 

When you schedule a meeting, you'll quickly discover how much we care about your business growth. Contact us and learn how we intend to use our resources to make 2019 your most profitable year!

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