Business growth is a hot topic…always. The small business failure rate proves that staying in business can be a challenge. The world is also changing, along with the way business has always been done. Now, there are more ways to market your products or services than ever. What used to always work isn’t as effective anymore. You need to get creative. To really stand out and grow consistently as a business you have to start thinking outside the box.
Here are 4 ways you can creatively grow your business in the next 3 months.
Do you operate a service business? If so, you can turn your service into a product and use it to generate passive income. For instance, if you are a personal trainer you can create an exercise program and sell it in addition to your in-person trainings. If you are a dog-groomer, you can create your own brand of shampoo or soap and sell it to your existing customers.
If you have a product, it may be possible to turn it into a service. For instance, if you sell t-shirts you can create an online service for people to design their own t-shirt. If you sell software for businesses, you can offer coaching services to those same businesses.
This may not apply to every business, but, if possible, it’s worth the effort to grow your business out of the traditional box.
Writing a book gives you, the author, authority. In any field or market, a lot of regard is given to the person who “wrote the book on it.” The great thing about writing a book about your work is that people don’t necessarily have to buy your book to find you and use your service. When you’re the person who wrote the book, you have an edge over your competitors. You can become the go-to expert in your field.
You can give your book to your existing customers to build even more credibility. You can also use your book as a marketing tool and give it to potential customers. The chances of them using you will go through the roof since they have a physical representation of you and your business. This will take you leaps and bounds beyond the cliché business card practice.
Are you a brick and mortar business with a lot of walk-in customers? Are you already online, but not generating a lot of revenue there? Either way, you can expand your company’s reach by investing in a digital approach. Nowadays, everyone is online. If you want to find a service, you Google it. If you are looking for a product, you search on Amazon…or Google. If you are wanting to find a place to eat, you open up your browser on your phone or an app and start searching. If your business is not online, then you are missing out on huge opportunity for growth. Here are some ways to expand your online presence:
You can partner with other businesses who compliment your product or service. For instance, if someone buys your product, they can be offered a discount on your partner company’s website. Or you can bundle your products or services together and offer them at a discount for both. This will give you and your partner business more exposure.
You can also use affiliate marketing to bring in revenue, or to put your product in front of a new or larger audience. You can sell other people’s products and receive a commission off of each sell. The flip side of that is to let someone sell your products or services and give them a commission. It’s a win-win scenario when both companies are in agreement. Not only does it bring in more money, but it increases exposure for your business.
For instance, Bluehost, a website hosting company that works closely with WordPress, grows it’s business through it’s affiliate program. There are many online influencers who promote Bluehost and earn a respectable commission, sometimes over $30,000 a month. Pat Flynn, who shares his income reports online, steadily earns these kinds of commissions, as do many others.
Growing your business can be fun. It doesn’t have to be difficult. Keep looking outside of the proverbial box and get creative in your marketing.