As a small business owner, you are no doubt always looking for ways to grow your own business. There are thousands of ideas out there, but it isn’t like you can try all of them and see what sticks. To help you out, we are sharing five ideas that we feel are easy to implement as well as cost effective.
There is no better form of advertising than the praise of a customer. The problem is that most customers, even when very happy, do not run off and share their rave reviews with friends or online. But when you give them an incentive to by creating a refer-a-friend campaign that offer them a reward for bringing in new business, you will find that they have the motivation to help you grow your business.
Keep in mind this doesn’t need to be anything big. A free eBook with purchase is a great option, as well as a small sample of another product of yours. The key is to make sure you are not losing money by doing this, so products that are cheap or free to give away are best.
Think about the businesses yours would complement without competing with. These businesses are ideal for a promotion exchange. Offer to advertise for them in your store or on your website, or even to put a small advertisement inside of your packages when you ship them; they will do the same and you will both benefit from this project.
If you can make a name for yourself as an expert in your field, people will naturally turn to you for your products and services over the competition. Doing this does not need to require a large investment on your part; you can make this move at little to no cost to you.
Finally, think about targeting those outside of your current market. Even if you need to ship products, there are many people living abroad who would be happy to pay extra to get some of the comforts of home. Seek out expat groups in various countries to get a feel for how much they might be interested in the possibility and base your decision off of this.