Friday, 23 February 2018

Information and commentary for the small business banking industry

The basics of business growth

29 Nov

Running a small business is not without its challenges. And those challenges are often dependent on the type of business. But there are some fundamentals when it comes to business growth, that are sometimes overlooked by business owners because they’re so busy with the individual needs of their business.

However, there are some tried-and-true techniques that all business owners should be employing for business growth.

Customer communication is paramount. Whether it’s talking to customers inside a retail store, via social media, e-newsletters or entering all customers into a database, it’s vital that business owners remain in touch with their customers so they can track and predict their needs. That’s why customer databases are an essential tool.

Keeping up with the competition is also critical. Business owners need to have their finger on the pulse of their industry, and be aware of any innovations their competitors have made.

It’s also important to continually review and update a business’s marketing strategy. Making the most of social media is essential in this day and age, and being digitally up-to-date (website, mobile etc) should be a central part of any marketing mix.

These are just some of the basics of business growth – the below article looks at a few more.

Read the full article at:

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