Small businesses count for 99.9% of all US businesses, thus creating a significant impact on our economy. Since we rely on these entities to succeed, and also the fact that May is Small Business Month, we thought it would be the perfect opportunity to show support. We’ve put together five simple ways a small business can grow and reach more customers. Continue reading to learn more.
1. Create a special offer
Promotions that include free items, discounts, or reduced fees will increase consumer interest. Additionally, small businesses can reach more customers if they advertise the deal in multiple ways. For instance, they can select digital, print, or radio to solicit their product offerings. Either way, businesses should make the deal easy to understand and redeem.
2. Targeting competitors
Business can target their competition in many ways, especially with digital advertising. Even with a modest budget, a small business use geofencing to advertise to a competitor’s members. The technology is sophisticated yet inexpensive and uses location tagging to serve advertisements.
For example, Gym 1 can geofence all of Gym 2’s locations. Every member that leaves Gym 2 after working out will begin to see advertisements from Gym 1 on their phone. It costs only pennies per session and cleverly targets the competition with precision.
3. Receive customized help
Businesses should look towards experienced finance professionals when they need funding assistance. They should also seek products that cater to their business’s specific needs.
Achieva Credit Union has many enterprise banking solutions to help your business grow. Plus, we treat our members like people, not account numbers. If you need customized help financing your next project, visit www.achievacu.com/business for details.
4. Embrace social media
Social media is an excellent way for small businesses to expand their reach. It can attract new customers and help companies connect with their audience.
Here are five ways to use social media as a tool for growing business:
- Post regularly and at consistent times
- Create engaging, relevant content
- Respond promptly when someone posts or comments
- Acknowledge when someone compliments a business action
Celebrate Small Business Month
We hope the tips above will inspire small businesses everywhere to reach more customers. Continue celebrating Small Business Month by sharing this article and engaging with the small business you know.
Need more business-inspired content? Continue following the Achieva Life Blog for additional work and finance articles.