and, as the pandemic drags on into another year, it can be easy to feel discouraged by all of the global uncertainty. basically, the goal is to sell more of your existing products or to successfully promote a new product. this is especially important if sales of existing products have stagnated or if you’re looking to expand your market reach to a new geography or target demographic. it’s interesting to note that more than one-quarter (28%) of small businesses don’t have a company website. best of all, this approach can help you increase sales by appealing to the habits of omnichannel shoppers.
so instead of trying to cast a wide net, you can use detailed market research to identify top buyer personas for your products and services. for example, entrepreneurs such as plumbers and electricians might form a partnership to help each other win a greater share of the market by providing complementary construction services as a package. by using some or all of these six steps, you can quickly accelerate your small business growth in the months ahead. connect services require an active subscription, and use of either the act! product and service names mentioned herein are registered trademarks or trademarks of act! product and service names mentioned herein are registered trademarks or trademarks of act!
it’s important to direct your energy and resources toward the right practices, though. this can be difficult, as it requires you to beat your existing competition, but appealing to your current market is a reliable way to boost your profits. if you can’t lower your prices across the board, look for other ways to appeal to the average consumer’s desire for a bargain. finding new opportunities to sell your products can be an excellent way for your small business to grow, especially if your current market is highly competitive. setting up an online shop is fairly easy, and it allows you to expand to a national or even international audience. for this reason, you might need to reevaluate your brand’s place within your market and narrow down your target.
it does take some careful research to discover which market segments are the most likely to buy each of your products, so be prepared for a time-intensive process. you shouldn’t work with a company in direct competition with you, as that could cause you to lose customers to your competitor. this could be an opportunity to tackle a big project by combining your resources, and it can be a chance to connect with another professional who may be able to offer their wisdom or skills. convincing a customer to return to your business is easier than convincing a new customer to give you a chance. you could entice customers to sign up for emails by offering a discount in exchange. success doesn’t happen overnight, but by staying committed to your business practices, you’ll lay the groundwork for expansion.
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