Suppose you’ve had your online business for some time. Whether it’s a web store or website representing your offline venture – it’s been working for you for a while. So, you start feeling limited by the amount of your current turnover. Or you’ve chosen an absolutely new direction for your business? Development is a constant process that takes effort and creativity. Exploring the new possibilities can bring you to success. And we’re here to give you a friendly hand. In this post, you’ll find the top 5 tips for nurturing your business that actually works!
1 Learn about your customers and adapt your marketing strategy
The best way to learn more about your audience is to keep in touch with it and get feedback. Understanding customers’ opinions will allow better response to their needs. For this create an online survey, connect on social networks, research customer reviews. Client reviews – both positive and negative – will be helpful in giving you ideas to perfect your business.
Also, make sure you keep control of your marketing strategies and improve them. Follow these 3 steps:
- Check your strategy on a daily/weekly basis.
- Diversify your marketing channels: use content marketing, SEO and PPC advertising.
- Create targeted landing pages.
Another important thing for an online business is conversion. If you discovered low conversion rates after conducting the analysis, improve the following. Introduce the A/B testing using special tools. Google Analytics is one of the best tools to give information about the customer flow. You will also track the areas where the customers lose interest and tail off. Another way to improve conversion rates is to revive abandoned shopping carts. A friendly reminder in a form of a follow-up email might win over a couple of new clients.
2 Take care of your online look and feel
It’s impossible to stress enough how important the design and usability are a business and services company. A mobile-centered company website is a must if you want to advertise and sell your goods and services. People of today neglect the use of desktop computers in favor of mobile devices. But what are the things to focus on in first place?
– Mobile-friendly and 100% responsive website. If yours still does not correspond to these requirements, do something right now! Limited web design funds? For starters, you can try WordPress. Not only is this content management system easy to use, but it offers web design layouts. If you’re starting out, use Business and Services WordPress Themes. They look consistent and professional on all modern devices. Besides, you can have a web design 101 while learning to use and change them. And, if you need some web commerce functionality, you can throw in eCommerce plugins with ease.
- Business growth in 2017 is unimaginable without mobile applications. Investing in a mobile app development will eventually do your business a great job. Mobile apps ensure your clients will be able to access your resource on the go. It’s easy, fast and convenient. Complex mobile apps can have elements of social networking. Besides, your mobile app can serve SEO purposes if you introduce deep linking to your website.
- Introduce mobile payment services. Mobile pay services are handy and easy to use. Is there a better way of closing a deal than allow customers to pay on your website? There are hundreds of payment gateways available, so you can adopt a few for your business. You can’t overestimate the importance of mobile shopping avenues for a web store. Stay up to date in order not to lose new clients and large orders.
3 Adopt innovative business models
It goes without saying that new business models open new perspectives. But, adopting them for your venture takes an open mind and progressive thinking. Take a closer look at the following ways of innovative business models adoption:
- Collaborate with companies offering complementary goods or services. Developing a partnership will be great for creating an in-depth value proposition.
- Make direct contact with the industry influencing companies in your local area. Collaborate with them in promoting and selling your goods and services. Keep in touch with them on a regular basis. Inform them about the updates, novelties and all the latest products. Also, using a CRM system will help you keep track of your productivity.
- Share your expertise in the field with your target audience. Hold paid webinars, courses or create a series of tutorial videos. Since content is king, don’t be afraid to share it in your company’s blog, or use any channel you see fit.
4 Develop a new field of activity
Apart from all the above, you could try diversifying your business. For this, try entering a new field of activity. Don’t know where to start? Go on reading:
- If your business is connected with sales, you could try vertical expansion. Try broadening the range of your suppliers and involving new distributors. Expand the distribution chain or make it your own, if you need control within your market niche.
- Also, see the horizontal expansion. This could be an industry with more than a supply chain in common.
- Another way of business diversification is expanding into an unrelated field. Try your goods and services in a new market with a new target audience. This takes some business knowledge, since entering the unknown market is challenging.
Believe it or not, outsourcing is just the thing for an online business to benefit from. Hiring an outsourced accountant for bookkeeping, pay bills and distribution saves time and effort. Indeed, spending money on such things may damage your venture.
Another positive thing is that you get your labor cost reduced. Instead of hiring unqualified employees for a short-term project, outsourcing specific aspects of a project to professional firms can be more beneficial. Establishing a partnership with an outsourcing firm is quite beneficial. It will help an enterprise to take on new projects faster with permanent labor costs.
The major pro of outsourcing is an overall business costs reduction. Not only is outsourcing capable of converting the fixed costs into variable costs. But it’s also capable of releasing the capital to invest in other business spheres. This way, it will be possible to invest more capital into the things that produce revenue.
If you follow these tips and put them into life, you’re bound to experience serious business boost. Remember that your online business depends on the look and feel of your website for the most part. Don’t neglect using pre-made WordPress themes for a fast and easy production of your resource. Use this advice wisely, since its effectiveness depends on your field of activity and business peculiarities.