7 Low-Cost Ways to Boost your Business Growth in 2021
2021 is a year of hope. All the businesses that slowed down during the pandemic lockdown are looking forward to recovery and business growth!
…and so are you.
If you’re here, it means you are worried about how to manage your budget simultaneously capitalizing on business growth opportunities.
It will not be simple, but if you are ready for overtime and hectic schedules, here are 7 easy-on-the-money ways to help you boost your business growth in 2021, without laying off more employees or cutting off their salaries. (And we promise, all of these work one-hundred percent!)
1. Invest your efforts and resources in Organic SEO
71% of B2B researchers start their research with a generic search and no rational consumer looks past the first page of results. Every single firm in the market is churning quality content and is leaving no stones unturned to climb up the ladders of search engine rankings.
When you appear on top of the SERPs, your content brings in more traffic and hence more potential buyers – 57% of B2B marketers stated that SEO generates more leads than any other marketing initiative.
To help your team with marketing that brings results, you can either keep flowing money to pay for SEO or invest more in organic methods. Introduce free SEO tools, encourage keyword research, diversify your content and ensure that visitors have the best experience on your site with regards to mobile optimization and page load time.
It may come off as clumsy and tiresome, but the only shortcut that’s there to rank higher on SERPs is a strong organic SEO foundation.
2. Nothing can beat Quality [with Quantity] Content
Online marketing campaigns run on quality content; it is the cornerstone of your brand’s digital footprint.
Content marketing costs 62% less than traditional marketing and generates about 3x as many leads.
You have heard this over and over again, yet you’re falling short. This is probably because you think content curation is tedious, does not bring in visible results immediately and your content is not unique.
Take baby steps. Hire a content creator to craft at least one think-piece a week. It will help you put yourself on the map and you will also begin to establish yourself as a thought leader.
The exposure your content can bring in terms of traffic, new opportunities, prospects, and consequently revenue, is beyond any of our imagination. 82% of marketers who blog see positive ROI from their inbound marketing.
There are people in the world who are making good money from their blogs alone and areas successfully driving sales amounting to millions of dollars. It’s time to join the club!
3. Customized customer-service will always fetch you greater ROI
The way you treat your consumers helps you distinguish yourself from your competitors. Most B2B customers want a personalized and seamless experience when they buy from you, and it eventually converts to free referrals and good reviews.
If you are just starting up and are on edge with the budget, let your staff do the advertising for the company. Make consistent efforts to keep your employees motivated so that it reflects in your customer service. 86% of buyers willing to pay more for a great customer experience will soon cover up for all the “extra” investments.
Remember, even one customer with a bad experience can damage your business in a lot of ways.
4. A comprehensive email list is equivalent to gold
Email marketing is still as effective as it used to be. Anyone who says otherwise is either lying or hasn’t yet explored the potential of this marketing channel. Stats reveal that for every $1 you spent on e-mail marketing; you can expect an average return of $42. Email lists are like gold mines; they will make you prosperous only if you know how to capitalize on them.
There is no standard procedure to follow when it comes to emails. Every brand has its own way of connecting with their consumers. All you have to do is, write an open-worthy subject line, add relevant content and send it at the right time. Although a lot of emails are left unread, every person on your list wants a personalized email that suits their needs.
You simply cannot afford to let go of such a valuable resource. Even if you don’t know what to do with your list right away, maintaining one will give you a cannon in the closet which can be used whenever necessary.
5. Leverage your social media accounts
Believe it or not, everyone uses social media. Be it for personal or professional purposes, you will hardly come across people who are unaware of the advantages of social media – 84% of B2B marketers use paid distribution channels (like Instagram, LinkedIn, Facebook, YouTube, and more) for marketing purposes.
It does not matter if you’re a small-scale business that is starting out or one that has reached a level of success, if you want free marketing, you HAVE to use your company’s social media handles.
Make regular updates on platforms like Facebook, Instagram, and Twitter.
Post good quality content frequently and boost visibility with the right hashtags and keywords to drive engagement.
Use platforms like LinkedIn to interact and add value in conversations relevant to your business and industry. Participate in networking events and webinars. Research about your prospects and look for new ones.
Social media today can drive more than half of your business only if you are dedicated to squeezing the most out of it. If you haven’t thought about it yet, you are losing out on a lot.
6. Dig Deeper to explore the leader’s success-secret
Numerous start-ups and new businesses emerge from various corners of the world every year, but not all of them are able to taste success. So, what makes the others more victorious in their attempts to sell their products?
Research about what other leaders are doing and how it is working for them. Check out case studies of popular brands, online articles, and blogs, and listen to podcasts. Understand how they do it and draft your business growth plan accordingly. If you think it can be modified for better results, do it right away.
Learning is a never-ending process. Like it’s said, there’s always room for improvement… and to plug the loopholes, it’s always wise to learn from the leaders. Dig out the secrets and tips from triumphant leaders and follow their footsteps to leave some of your own!
7. Set up an incentive program and capitalize on referrals
Referral marketing is another very effective and budget-friendly way of growing your business. As much as 84% of B2B buyers start their buying search with a referral. However, most companies fail to capitalize on these benefits simply because their salespeople don’t ask for referrals.
If you have existing customers, asking for referrals through an incentive campaign will help you boost your business growth. You can offer your program to consumers who have already made a purchase, motivating them to share their experience and use their credibility to spread the word.
As more and more new consumers make purchases through the old ones, you can offer them gifts, vouchers, points, etc. depending on the number of referrals. The positive thing about an incentive-based referral is that you don’t lose out on your budget as gifts are distributed on a sales basis. If you have not given a thought to referral marketing, now might be the best time.
Bonus: Outsource the “extra” load!
Your business idea is fabulous and you have started to build the fort… gradually, on the way you realize you can’t do everything single-handedly. Of course, you can’t, you are only a human! A fool-proof way of dealing with the ‘extra’ burden is to outsource services like sales, cold-calling, marketing, etc. to expert B2B sales and marketing consulting firms.
Even though it might not exactly be low-cost, it saves a lot of your capital, making business scalable. Plus, the departments that you outsource to the professionals will deliver higher quality results than your in-house department.
You can also hire interns who will work unpaid in return for credits. Since they are fresh in the industry, they are not only high on ego-drive but are also very flexible and if you treat them well, they will carry a positive image of your brand to share with others. A complete win-win!
Growing your business from a small shell to a large corporation is not an easy job and cannot be done overnight. It requires careful planning and well-thought approaches. The key to this evolution is to be focused on the progress and not the destination.
You just have to keep going. Every marketplace is dynamic which will require you to revisit your strategies frequently, reflect on your progress, observe the results and determine what is best for you.
Do you also want to amp-up your business in 2021?
today and we will take it up from there!