What do you do when your business isn’t growing? Well, you make changes of course!
There are all kinds of reasons behind slow business growth and we will highlight some of them in this article.
So, whether you’re selling to the general public or primarily focused on B2B sales, consider the following and apply them to your situation.
#1: You have stopped growing
Your business is a reflection of you. If you’re not growing as a business owner, your business will struggle to achieve growth too.
How can you grow? Well, we obviously don’t mean buy a new pair of high-heeled business shoes to increase your height! We are talking about a growth in knowledge.
Study books on business, visit conferences, attend training workshops, and seek help from a business mentor. As you learn, you will discover new ways to move your business forward and have an understanding of any changes you might need to make. As you grow in both your knowledge and your skillset, you will be in a better position to grow your business.
#2: You’re not marketing your business enough
What are you doing to market your business? To boost your customer numbers, you need to promote your business as much as you can. From marketing your business on social media to encouraging word of mouth marketing from your customers, there is much you need to do to get word of your business out there.
So, do what you can yourself. As we suggested above, encourage your customers to spread the word too. And hire marketing personnel onto your team if you have the funds to do so, or outsource to a marketing agency.
Check out this small business marketing guide and use some of the ideas within. The more you can do to market your business the better. More people will hear about your business if you do and your competitors will be pushed back by your concerted marketing efforts. As a result, you will have a chance to build your profits and take further steps to grow your business.
#3: Your website sucks
Why does your website matter? Well, it’s the virtual face of your business of course, and if it isn’t up to scratch, then you are going to face losses in your business. This is because people will associate it with what you sell, so if it makes a bad first impression of your business, your potential customers will probably head elsewhere.
Why would your website suck?
There are many reasons why. The design could be outdated or considered unprofessional. It might not be optimized for mobile. There could be technical problems that are hindering the experience of your site users. And it might not be optimized for Google’s search pages.
If there are any issues, you should make the necessary fixes as soon as possible. Start by looking at other websites and compare them with your own. If you have reason to believe that your website compares badly, make any changes yourself or outsource to a web designer. You might also outsource to an SEO agency if your website isn’t ranking on Google. These are just some of the things you can do, but consider where problems lie and then search for the necessary solution.
When your website looks and functions better than it did, people will have an incentive to stay for longer on your website. They will have more trust in your business too, and as such, you should start to see a boost in both customer numbers and your profits.
#4: Your competitors are doing better than you
Unless you have found your own niche that nobody else has followed, you will have competition to worry about. These competing businesses will be taking a share of the market and limiting your ability to grow.
Should you accept defeat at the hands of your rivals? No, you should fight back, making every attempt to surpass their efforts in every aspect of your business. From delivering better customer service to creating a better product, do what you can to win customers over to your side. And when you have done this, don’t rest on your laurels. Keep an eye on what your competitors are doing so you can always stay ahead of whatever it is they are doing.
For more advice, check out this article on gaining the competitive advantage.
Did you relate to any of these suggestions? If so, make the necessary changes in your business. You should experience growth if you do, so be it by yourself or with the help of others, form an action plan to turn things around for the business you run.