Small Businesses Should Take Care Of These 4 Things That Are Essential for Growth
Retail and other small businesses face a lot of competition, particularly online. It can be challenging to stand out and start growing. But taking care of a few things consistently can produce excellent results in the long run.
Here are four things that are essential for small businesses to grow:
Build A User-Friendly Website
All businesses in 2022 should have a user-friendly website regardless of industry. Your website is often the first impression potential customers will have from your company. It must be a good one.
It’s best to keep everything simple. The homepage should contain your most popular services or products and make it easy to purchase them. The navigation menu shouldn’t be crowded with options. Users should know what they’re getting if they click somewhere on your site. Try to center everything around your offering to incentivize sales, but don’t do it in a pushy way.
Another thing you shouldn’t forget is to make your website mobile-friendly. 92% of internet users are using mobile devices. Website content management systems like WordPress make it easy to get started with a good-looking website that works on all devices.
Know Your Main Competitors
Knowing your competitors will give you the most powerful and actionable knowledge you need to succeed in your business. Study the companies that have done well in your industry for years, and you’ll learn much about what made them succeed over everyone else.
Try to identify gaps or areas of improvement in competitors. This is how you can find a value differentiator and separate yourself from the competition – that’s where actual growth begins.
With the internet, it’s pretty easy to identify your main competitors. A quick Google search will usually do the trick. Some of the most important things to look for during competitors analysis are:
- The prices they charge
- Distribution and delivery methods
- Their products and how they market them
- Social media activity, etc.
Take Security Seriously
The last thing you want to experience, particularly as a newer business, is a security breach. Security incidents are costly to recover from – financially and in reputational damage.
Take security seriously from the start. Use security tools like firewalls to protect your network and password managers to protect business accounts. Educate employees on best security practices to protect valuable business data.
Online retail businesses handle sensitive customer data like credit cards. If left unprotected, it’s only a matter of time before hacker groups get a hold of this data and cause irreparable damage to your business.
Build Out Your Email List
The main pinnacle of most successful businesses is a large number of returning customers. Email may sound outdated as a marketing tool, but it’s a proven way to get loyal, returning customers.
Encourage your website visitors to join your email list by offering incentives, such as discounts. Give them a brief value proposition of why they should join. For example, you can give all email subscribers 50% off on any one product per month. Play around with incentives to figure out what works and makes sense for your business.
Don’t forget to make it easy to opt out of the subscription. You should also limit the number of emails you send, as people don’t like to get spammed with marketing emails.
Growing a small business takes time and dedication. Don’t be surprised if it takes a few months, if not years, to take things off the ground. Following the principles in this article and the things you learn with experience will significantly improve your chances of success.