We as small business owners sometimes get hung up on the idea of profit as the only indicator for growth. Selling more of our product or service is our ultimate goal, but there are many ways to track your success that aren’t based solely in those terms.
Right now, we’re going to tell you about non-revenue goals that can actually lead to higher profits. As you’ll see, most of our advice can be summed up in this simple statement: Cultivate a strong community of customers, clients and industry professionals.
Strengthen Your Connections with Clients or Customers
It’s common knowledge that nurturing our relationships with first-time clients or customers is necessary for growth. However, many small business owners forget the value of repeat customers and word-of-mouth advertising. Maintaining connections with current or previous customers or clients is important because it creates firm customer loyalty that can spread. By maintaining a positive, enthusiastic relationship with previous customers, you also market your business as one that is truly dedicated and engaged with those who support you.
Become an Industry Expert
Blog about the latest news in your industry. Be active in forums. Provide potential customers or clients with advice that only an expert would know. Include your clients and business collaborators in these conversations! Content creation and an ongoing dialogue with your customers and other industry professional should be a significant part of your business plan. It makes you look like a trusted resource, a company of the highest standards. For more ideas on how to become an industry expert, refer to our blog post on this very topic.
Cultivate Your Brand
The most successful businesses, from large-scale corporations to mom-and-pop shops, have an image that speaks to consumers and draws people in. Take time to creatively re-fashion your brand, your image and your message. Branding is a significant part of long-term business success because it’s what ultimately sets your business apart from your competition. There’s only one you in the entire world. Take advantage of this!
Network with Influencers
Consider networking with individuals, brands or businesses in your community who might be able to refer clients and customers. By developing relationships with other professionals in your area, you become part of a network of people who can promote and support you, and vice versa. Be generous with your time and energy. Offer to collaborate with influencers by writing relevant guest articles, hosting promotional events or collaborative seminars. Check out our blog post on influencer marketing for small businesses if you’d like more ideas.
By volunteering your special gifts or talents you set yourself apart from those who don’t bother to leave their storefront. You can also volunteer your knowledge, mentoring those who are also pursuing their passion. This helps you become an industry expert, and it will keep you inspired. The more engaged you are in your community, the more clients and customers will be drawn to your special way of approaching the world.
Be Active on Social Media
Almost 25% of small businesses aren’t on social media. Big mistake! Younger generations get the majority of their information and consumer recommendations from social media networks. As a small business owner, you can capitalize on this by making your brand accessible on these platforms. DCA Virtual Business Support can help you with all of these goals, from cultivating the voice of your brand to your presence on social media. We assist small businesses in connecting with their clients, customers and industry in a meaningful way. Ask us about our services!