Expanding Your Business: The Basics

Updating Your Marketing Strategy

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Expanding your business is about selling more products or services, having more clients, or branching out into new products or services. To do that you need to improve your marketing strategy. Marketing teams are a vital part of the business. They present your company to the world and can increase or decrease the amount of business you get. Therefore they directly affect our profits and your ability to expand successfully.

 

A successful marketing strategy will involve all aspects of technology and media. It’s not about cold-calling potential consumers anymore. A smarter and more sophisticated approach is to start a blog on your website. You want the content to appeal to the type of customers that you have. So, if you run a furniture business, for instance, have some posts about how to decorate in a modernist style. Creating content on your site is a great way to increase traffic. Obviously the more traffic the more chance there is of a purchase. Social media is another way to get a short succinct message out to a huge audience. You could even make corporate videos. Do to any of this kind of marketing you’ll need to hire specialist. If you’re a fortune 500 company find out more about Crews Control. This company can sort out all the ins and outs of a corporate video for you. If you’re a smaller company or a start-up, consider getting a social media savvy graduate or a copywriter on board.

Taking On The Competition

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To expand your business successfully you’ll probably have to face some opposition from your competition. One way to expand your business is to offer different products or services to your competition. Or you could add more lines to your existing products or services. If you do decide to do this, don’t neglect your loyal customer or client base. Taking on the competition can mean appealing to new demographics, but don’t lose your old one in the process. Always listen to what your customers have to say before making any drastic decisions.

 

Training

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Expanding your business will be stressful. You’ll have more responsibilities than you did before and you’ll have to be able to delegate effectively. It’s also worth considering training some of your staff more thoroughly. Rather than hiring new staff externally, consider internal promotions first. If you have passionate, driven, and hardworking staff, who already know the ropes, train them to fill vacant positions. If you’re expanding into new offices, for instance, you’ll need an office manager. Train one of your existing members of staff whose shown promise instead of hiring someone completely new. Reward staff who have stuck with you from the beginning.

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