Whether you have established a small business in the past couple of years that caters for the changing consumer behaviors brought about by the worldwide coronavirus pandemic, or else you have been the successful owner of a small business for many years now, growth and expansion is always the main business objective.
With that in mind, continue reading to discover the top three top ways to grow and expand your small business in 2022.
Utilize Influencer Marketing
Undeniably, social media platforms are an absolute proverbial goldmine of information and are one of the easiest and most cost-effective ways of both improving customer service and enticing new customers to your business.
Influencer marketing is essentially one of the newest (yet incredibly effective) types of social media marketing which involves either an individual or organization with particular expertise or notoriety in the field, who can promote your service or product.
Benefits of influencer marketing include the following:
- Placing a higher value on and greater connection with your audience
- Building mutually beneficial business partnerships
- Creating a substantially wider and larger brand awareness
- Effectively and easily reaching your target audience
- Building trust and inciting excitement around your brand and business
Invest In PEO
Professional employer organization, more commonly referred to as PEO, is a system which allows the owner or manager of a business to effectively outsource their human resources responsibilities, including compliance, employee administration, and payroll to name a few.
Small businesses are the ones who gain the most from contacting and working with a PEO Company and PEOs are the one of the best ways to help your company grow and expand.
The advantages of implementing a PEO in your own small business include, but are in no way limited to the following:
- Cost efficiency across the whole of your small business model
- Assured and consistent compliance with all HR rules and regulations
- Acute and accurate financial forecasting
- Data protection and security
- Greater employee benefits and reward schemes
Develop A New Marketing Plan
Perhaps you are already working with a functional and efficient marketing plan, or maybe you have yet to devise one that will actively and effectively drive your small business forward into expansion.
At the heart of every small business plan should be an efficacious marketing plan and the good news is, it is relatively simple to implement an effective one.
A sound template for a small business marketing plan should follow these basic key points:
- Succinctly define the purpose of the business
- Define your situation within the market, paying attention to issues which affect your product or service, competition, and customers.
- Set clear and attainable objectives and goals
- Define your customer profile
- State your creative strategy, position, and brand USP
- Consider your promotional strategies, pricing, product, and distribution, and put clear marketing strategies in place
- Clearly define your tactics of communication
- Outline your budget
- Blueprint your plan of action
- Consider long-term market development opportunities