On average, small businesses start with $3,000, but only a small portion can be funneled towards their marketing efforts.
Implementing business growth strategies is the key to furthering your reach and generating a hefty profit, which is the lifeblood of your company. Luckily, there are affordable methods you can try to raise brand awareness. Perhaps you’re in this position and you’re looking for inspiration for growing your business.
Sounds like you? Don’t worry, you’ve come to the right place. Here are five tips for growing your business on a budget.
1. Build an Email List
One of the top business growth tips is to build an email list. This is a great way to stay at the forefront of your customers’ minds and remind them of your latest promotions. You can collect emails by offering free resources to subscribers or offer a 10% discount to anyone who signs up to your list.
If you’re struggling with producing content, then hire web copywriting services as they can produce copy that reflects your brand’s voice and engages your audience.
2. Leverage Social Media to Drive Traffic
Anyone who wants to grow business on a budget should harness the power of social media. To make this effective, sign up to platforms that are relevant to your industry. For instance, if you’re in the restaurant business, then promote your company on a visual-heavy platform like Instagram or Pinterest.
3. Invest in Pay-Per-Click Ads
One of the best ways to expand a business is by investing in pay-per-click ads. There’s a common misconception that it’s expensive, but you can set your pricing and target relevant keywords. A bonus is you only pay when a prospect clicks on your advert, making this a budget-friendly option.
4. Prioritize Social Proof
If you’re struggling with business growth ideas, then use social proof. This marketing tactic is the idea that people copy the actions of others, which you can capitalize on. For instance, include customer testimonials as it will encourage prospects to purchase at your business.
5. Create a Clean Website
A staggering 36% of small businesses don’t have a website, which means they miss out on leads and potential sales.
But if you want to learn how to grow a business, then you must have a functioning, clean website. Not only does it establish you as an industry expert, but it’s easier for prospects to make a sale. Plus, you’ll rank higher on search engines, which will help you turn a profit.
Further, hire a web developer to improve your site’s speed as it will reduce the bounce rate.
Try These Business Growth Strategies Today
Hopefully, after reading this article, you’ll use these business growth strategies.
Start by building an email list, harnessing the power of social media, and investing in pay-per-click ads to raise awareness of your brand. You should also prioritize social proof and create a clean website to help further your reach on a minimal budget. Good luck!
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