If your new year’s resolution was to grow you business this year then you’re looking in the right place! Obviously, business is not something that you can always predict, but you can follow some great guidelines that will help you increase sales, grow your team, increase your reach, etc. Take a look at some of the tips below for some great business strategies to help grow your business this year!
1. Target a Niche
ECommerce is all about establishing your niche- your territory. Somehow, you need to figure out what characteristics, demographics, psychographics, or common interests your clients have and then target them. No matter what your product or service is, defining your business’ niche market so that you can break through online to your customers with targeted strategies.
2. Make it personal
People who visit your website or purchase your services expect a unique experience that caters to their specific needs and interests (see point 1). These days we have the technology to capture individual shoppers’ interests and preferences and build an experience especially for them dynamically.
3. Why not make it a subscription?
There are numerous ways to to create a subscription model. Sometimes it’s a monthly charge, sometimes it’s a free trial at the beginning followed by a paid upgrade. Sometimes it’s a lifetime membership. And, of course, there are infinite combinations on the continuum of subscription models. If you don’t have a subscription model at the moment, it might be time to give it a closer look.
4. Kill the Messenger
The internet is allowing both small and large companies to reach TONs of consumers- quickly. Manufacturers are increasingly willing and able to work with smaller brands and they’ve learned that smaller companies are more likely to bring new products and ideas to the market. Why? Because they’re less constrained by limitations like bureaucracy, space limits, and supply chains.
There are obviously more than four tips to help boost your business this year- but these four are the key takeaways. Being able to analyze your online business from an objective standpoint will make it a lot easier for you to increase its profitability this year. Thanks for checking out these tips, let’s hear it for a great 2014 for all of our small (and large) businesses!