Tuesday, June 4, 2013

3 Steps to Grow Your Business

Small businesses face an ever-growing list of challenges. Depending on the industry, some of the challenges may include pressure from big-box stores, lower foreign labor rates driving prices down, a public base that is increasingly mobile and the 24-hour availability of online shopping. Service-based businesses face the scrutiny of online reviews, the need to be involved in social media (as well as run their business) and the high cost of being a brick and mortar location. 

One of our favorite quotes from Charles Nelson, President of Sprinkles Cupcakes, says it all, "Businesses used to have a small suggestion box near the door...but people can now make a post from an iPhone or BlackBerry, while they're sitting in your restaurant..." 

With such obstacles, many small business owners may not know where to look for answers. Diving in would take time and effort away from normal business activities, and ignoring the march of progress could prove fatal. What's the answer? The trick is to flip technology on it's head, and make it work for you. Here's some examples of how;
  1. Outsource Social Media - You know you need it, but thankfully you no longer have to do everything yourself - for example, one of the services our company provides, is to create and/or takeover managing social media profiles for our clients (think Facebook, Twitter, LinkedIn, Blogging & more). Whoever you choose to do this for you, be sure of a couple things first:
    • Content is King - Social Media posts are an extension of your business, and as such, should be handled with care. It's important to find people that can write, understand your business and represent you electronically without you feeling nervous about it.
    • Pricing - Check the marketplace for going rates (which can vary widely) and make sure the time you save by not having to do it yourself can be more appropriately used to grow your business through other tasks.
  2. Get a Mobile Site - eMarketer released some startling statistics about smartphone usage in the USA. In 2010, it hovered around 27% of cell phone carriers. Last year it was closer to 48% (just under half). You can see where this is going...by 2016, almost 75% of cell phone users will be on a smart phone. Tablet use is growing just as rapidly. If you've ever tried to view a regular website through a mobile device, you know it can be frustrating. Mobile sites can be created fairly economically, based on your current site, and providing the most important information about your business (contact info, hours of operation, directions, etc.).
  3. Focus on Customer Service - This should come as no surprise, but it may surprise you just how important it is these days. On the carrot side, it makes sound financial sense; Harvard Business Review published that boosting customer retention by just 5% could result in profits increasing anywhere from 25-85%. If that doesn't do it for you, consider the stick; unhappy customers used to tell 9-16 people about their poor experience, but now they have the potential to reach thousands. Customer service can't be outsourced, delegated or allowed to lapse even once. 
Chances are, you do what you do very well. The trick is to simplify your business model, remove the extraneous interference and go do it. With the right support, some creativity and by utilizing the options available, small businesses can become big success stories. 

About the author: James Maxim is an author, journalist and the Director of Client Services for Kreative Dezign & KD Linked, located in Leominster, MA. They provide website/graphic design, SEO services, writing/website content and social media assistance to businesses.