Tag: business growth hack

Categories
Business motivation

3 Simple & Effective Growth Hacks for Every Small Business

growth hacking strategies

Having a successful business is the dream of every aspiring entrepreneur. But let`s face the truth. Scaling and expanding your business is difficult. Initially, it means wearing multiple hats, sometimes all at the same time.

Sometimes it means understanding taxes and corporate compliance. Other times, it could also mean juggling between sales and marketing. It will also require you to interact with customers daily to create a meaningful customer relationship. And so much more!

At the end of the day, this tiring process will drain all your energy. However, if you want to scale and grow your business, there is still light at the end of the tunnel. All you need is to de-clutter your mind and shift your perspective a little to identify the most effective business growth hack.

Though, there are many existing growth hacks, here is a list of 5 strategies that will take your small business to the next level efficiently and quickly:

  1. Stand Out of the Crowd

Creating a unique experience for customers is necessary in the business world. There must be plenty of other business owners selling the same product as yours. Then why a customer should buy your product?

How your product will solve the immediate problem of the consumer in the market will make the ultimate difference. Sell the benefits and tell your target customer how their life will be changed after they purchase your product. Consumers want to know the stories behind your product, and not about your product.

  1. Research Competitors

“Keep your friends close, and your enemies closer”. Knowing about your competitors is necessary to stay ahead. Hence, do a market analysis and research about your competitors. Find out their key selling points and build a strategy that will work for your product. This is an excellent growth hack for small business owners who are in the early stages.

  1. Innovative & Personalized Marketing Strategies

In this digital age, creating a marketing strategy that is tailor-fit for your brand is a little tricky. But, if done properly, it can fetch more customers and boost sales. Small business owners can deploy creative growth hacks to pull more customers to their platforms by email marketing, product recommendations, visually appealing ad creative, and identifying high lifetime value (LTV).

Most of the business growth hacks state with a simple idea that emerged in the conversations. These growth hacks, if implemented quickly, can be quite effective for small business owners. A planned approach is necessary to scale these experiments.

Learn what works for what, not for your business. Find a customized business strategy as per your requirements with our Problem Solving Course. Click here to learn more: https://www.badabusiness.com/?ref_code=ArticlesLeads.

Categories
Business motivation

Want To Become a Distributor in India? These 5 Tips Will Help You

You have an idea to make a great product and found the seller in the target market. But how you reach the target seller on time is a significant factor. The distributor business is a link between producer and seller.

Thus, now you know the concept of the distributor. It is a simple business about supplying goods to other people who can sell it to end customers. It is a very profitable business idea if one can build up a good network. In changing times, distributors are making a direct network with the target customer.

This business may expect a tough job, but if you create the correct thread and follow the right pattern, then you can be a successful distribution business owner.

Here are a few tips which can help you to grow and be successful in the business.

Finding Right Product

The product is the factor that plays a significant part in this business. So, choose the products which you see huge potential in the market. Determine the right product which most people use in the area around you. Hence, give the proper time to research and understand the demand for the consumer on the market.

In this process, talk to retailers, dealers, and end customers, it can be a great assist in your market research to find the right product to choose.

Get In Touch With Suppliers

Now you know the products, but now it’s time to look for the right supplier from whom you will take the products. As you will be new to this line, therefore, we suggest you speak at least 2-3 suppliers for the product to understand the rates and quality. While doing market research about the product you will come across the stain that is popular as per the demand of the customer.

Give Your Business Name

The brand name is one of the significant ingredients for all kinds of businesses. Thus, create a name for your distribution business for making yourself known in the market. Register yourself in business as a business entity. Don’t forget to apply and look for the licenses and permits are required to run the business.

Network Building

The key to running any business with success is to establish a good network. In distribution, business success depends on how effective the network chain you have constructed, therefore work on building a strong network in a circle of dealers and distributors.

Reach out to as many resellers as you can and create a catalogue, product kit for talking to the concerned people. Be prepared with order forms, pitch to take orders if they wish to collaborate with you.

Noticing Your Business Growth

Make sure you keep in touch with your dealers and retailers always. It will not only save your business relationships healthy but also helps in the retention of them.

As we know, the distribution business is one of the most successful ventures, only to be a successful distributor, one needs to do work hard and dedication.

This business requires proper strategy and implementation of the plan. End of the day, everyone needs to work hard towards a proper understanding of business and growth.

 

 

Categories
HR & People Management

10 Growth Hacks Every Small Business Should Know

Are you looking for a perfect growth hack for your business?

Growth hacking
is a quick experiment for your business to identify the most efficient method for achieving growth. Hacking in terms suggests a clever way to produce higher growth result through shortcuts. An ideal business growth hacking aims is to increase the customers by keeping the investment low.

Let take a look at some business growth hack that every small business owner should know:-

1. Prioritize content marketing.

  • According to research, content marketing costs 62% less and generate 3 times more lead than any other traditional marketing.
  • Useful and engaging content can represent your business as an expert and can also help you building relationships with your customers.
  • Clean and to the point content with a call to action helps to monetize the traffic. This is the best small business growth hack.
  • Improve your SEOs and convert your visitors into your customers.
  • The high-volume and low-competition keyword of your blog/articles can attract more audience to your site.

2. Use Facebook and Google

  • Research says that the average customer makes nine visits to your site before purchasing anything, so you just need to retarget them.
  • Google and Facebook involve a pixel, you add to your website that enables you to show the target ads to your users who have previously visited your site.
  • Also, previous visitors to your site, who are browsing other sites too on the web, will see the ad of your business which encourages the visitors to come back to your site.

3. Show social proof

  • Most of the customers look for reviews before purchasing anything.
  • Let your customers know how many companies and people are using your product and services.
  • Display testimonials and comments from some of your satisfied customers on your website.
  • Customers buy from the company or place they trust, so the social proof is very important as a small business growth hack.

4. Use exit-intent coupons

  • Offering visitors a coupon is a great way to encourage people to make a purchase.
  • People love getting any coupons or deals, so not many will pass the opportunity.
  • Exit intent popup is a great way to grab your visitor’s attention when they are leaving your site.
  • Improve your bounce rate and boost your conversation with this amazing tool.

5. Use content upgrades

  • A content upgrade is a freebie within the post that relates to a blog post topic.
  • Providing content upgrade is a great way to grow your email list.
  • Content upgrade popup encourages your visitor to click the post in exchange for their email.

6. Use call to action on social media

  • With the help of a call to action, you can increase your likes, views, and shares on your social media handles.
  • You can also direct the customers to your website to sign up for your course or to join your mailing list to get regular updates.
  • Make sure that your call to action is clear and easy to understand.

7. Introduce a referral growth hack 

  • Users who refer a friend will get a freebie or the person who signs up from the link will get a discount coupon will get visitors at your website.
  • Create a perfect reward/referral campaign and offer giveaways to increase the numbers of the referral. 

8. Fear of missing out

  • Insecurity is the best tool to attract new customers.
  • Limited access to a service or product can trigger the emotion of missing out fear which can lead to having higher sales.
  • Fear of missing out strategy is all about offering the exclusive service or a product.

9. Launch a free model
 

  • Know your most effective distribution channel and how to deliver the content digitally.
  • One of the most effective strategies is to offer a basic service for free.
  • You can give your user a choice to apply for a premium membership to unlock the advance features; this was the biggest hack behind Spotify’s success. It was making money from cash subscriptions and ad revenues.
  • You can also offer early-bird discounts to your customers; this can be a very effective growth hack.

10. Ask for the feedback

  • There is no better way to figure out what is working and what’s not by asking the customers directly.
  • With the help of feedbacks, you can always improve your business, customer service or user experience which can boost your sales too.
  • Send regular mail and have a feedback popup on your website, who have purchased recently.

So these are a few amazing growth hacks that every small business should know. Instead of wasting your time in other ineffective marketing, these strategies are a smart way to scale up your business. 

A growth hacking strategy is not about just driving demand; it is about addressing the pain points and giving the customers what they want.