It is estimated that up to 50% of new small businesses will fail within the first year of opening. Only two or three businesses out of ten are going to stay open for 15 years or more.
If you want to set your business and brand up for success, you must consider scaling – this is the next logical step. Scaling is an art form, just like any other business step. If you scale too slow or too soon, you may wind up losing sales. Some tips to help you effectively scale your business can be found below.
Determine Where Your Strengths and Weaknesses Lie
Before trying to scale, consider what tools you have that will be beneficial now and after you scale and which ones must be replaced to help you achieve your scaling goals. To determine what you need, it is essential to find your business’s strengths and weaknesses. This will take some time but will be well worth it in the long run.
Improve Your Social Media Marketing Efforts
An important and overlooked part of marketing your business is your presence on social media. Some businesses believe that as they grow, it will grow with them without putting time or effort into social media services. However, this is not the case. When trying to scale an online store, you must improve your social media marketing efforts, too. For example, you must:
- Widen your reach to attract more customers
- Solidify your presence among the competition
- Engage in omnichannel marketing
- Serve and nurture fans and customers who use social media
- Monitor and join the conversation
It is important to note that up to 54% of people who are browsing social media will use the platform to research products they want to purchase. If you are not using this platform, then you are never going to be found. If you want to use social media to scale your business, consider doing the following:
- Start using more of your business features
- Create and publish content regularly
- Invest more time and money in social media ads
When it comes to scaling your business, there is no question that social media plays a big role in the entire process.
Ask Customers for Advice on How to Improve
Your customers are going to be using your online store. As a result, you can ask them what you can do to improve the website and scale your online store.
When you ask your customers how to improve your online store, you can improve customer satisfaction and service. Customer service plays a huge role in any business’s success, so be sure to keep this in mind and provide the quality service and solutions desired.
When it comes to scaling your online business, there are more than a few factors to consider. If necessary, work with professionals who can provide even more insight and information about what to do and how to ensure your efforts are effective.