7 Empowering Tips For Small Business - In Search Of A Better Tomorrow

empowering tips small businesses

With fewer than 500 employees and financed through their savings, small businesses have created 62 percent of net new private-sector posts according to the Bureau of Labor Statistics. Hence, it is no more – “less productive or less innovative.” Besides, the recent report states that there are 32 million small businesses in the United States, which has 47 percent of the state’s private workforce. 

us employement by business size graph data
Source: U.S. Small Business Administration 

Nowadays, independent businesses gain success with the right efforts. Do you want to know the secret sauce of these small firms? 

Take a look at the 7 below-mentioned must-know strategies that are proven to help small business owners in creating a better future. 

1. Reach Out To Local Media To Build Brand Value 

Are you planning to organize a free workshop for your customers, launching a new product or hosting a party for your success? Reach out to a local media in your area and build the publicity. It will attract a significant number of regional customers to your small business. 

Follow These Steps To Get Into Local Media 

• Research on the type of stories your local media covers. 
• Establish a secure network with them by attending events and involving in local committees. 
• Feed your business stories to the reporters and let them know about you. 
• Write newsworthy press releases that will impress the media. 
• Take part in charity activities to reap dividends in editorial coverage. 

According to Demand Gen Report, 93% of B2B users want content with input from industry thought leaders. The local media agency in your area will help you in this aspect. From views on current events to industry fluctuations, they pen on diverse topics for third-party publications. It adds an element of trust in the minds of your clients who will see you as an expert in your business. 

2. Engage Your Interested Customers With Retargeting 

Retargeting is one of the best policies to take advantage of customer’s interest. According to Criteo, the average click-through rate (CTR) online for display ads is 0.07 percent whereas the average CTR for retargeted ads is about 0.7 percent. Many big brands have realized its value and started investing more and more on this program to boost their conversion rates. 

Since customers get to see only the ads that matter to them, it doubles the chances of them buying from you, and thereby it upsurges your sales ratio. Hence, try executing this method in your small business to re-energize your drowning sales. You can either target those audiences using retargeted ads or take a minute or two to talk with them and provide a little insight about your product. 

3. Present Your Clients Good Reasons To Shop With You 

Providing an answer to their problem is not enough, you must also give them a reason to feel good after using your product or service. It is as simple as providing extra offers, small discounts, or gifts with their purchase. You need to be creative to execute this tact since you are not the only one to give price cuts or offers to the patrons. 

There are very few 'untouched' ideas out there, but that does not mean other firms have used all the good ideas. You can pick any and make it your own by giving it a distinct look. The only intention here is to make your buyers feel valued and giving the reasons to repeat their sales with you. Return customers are the real assets of any company. 

4. Combine On-and-Offline Customer Service 

Dig deeper into the customer service part if you want to prosper your small firm in the short term. When you blend online-and-offline customer support, it will become the chief problem-solver that wins a large number of loyal patrons. The report by New Voice Media reveals that U.S. companies lose more than $62 billion in a year because of poor customer service. So focus more on this part if you do not want to be one among them. 

Other than helping clients solve their issues, you can also use this platform as a tool to know their views about your brand and identify the blind spots in your business. People love giving customer feedback and hence ask for it whenever required. Do not fear to take negative remarks from customers and consumers. Instead, customize it as a compass to direct your solo ride on the right path. 

5. Never Stop Networking 

Be where your clients are. Know in which platform they hang out more and start forming a network there. You can do it by interacting on their social networking sites; meanwhile, you can explore some social media marketing tips and strategies to do so. Moreover, also sharing the right information that is of benefit for the user. Online presence is vital for small firms, and it is the best thing that has ever occurred to independent business owners. You can use it as a potential market research tool to monitor your competitors as well as the buyer's actions without letting them know about it. 

6. Take Help Of Mentors And Peers 

Usually, entrepreneurship is the lone path in the world. Especially in the beginning stage where crash rates are higher than success, you may think of closing your business permanently. In such cases, you should talk to peers or networking clubs who can mentor you in the times of crisis. You need them! These thought partners would help you regain faith in your business. Besides, to spot the hole in your sales plan. 

startup closure rate graph
Source: Bureau of Labor Statistics, BED 

The above report states that about half of new enterprises survive five years or beyond whereas about one-third last ten years or more. Usually, the survival rate is directly related to the company’s age. Hence, be firm with your ideas and do not give up in between. Take suggestions from peers to uplift the business whenever required. 

7. Continue Learning For SMBs

In an ever-changing business landscape, it is tough to keep on top of what is happening in the market. However, there are many resources online to learn current trends like mobile technology and more, which helps you in taking a proper decision about your new plan. 

There are also business classes with flexible scheduling that lets you learn more about the newest topics in the business space. Hence, stop saying goodbye to the learning process in your entrepreneurship journey. 

Empower Your Small Business

“Small businesses are the United States’ economic engine,” said Acting Chief Counsel Major L. Clark in a press release. It forms valuable resources for the nation’s economic output. Although starting a small venture requires rigorous effort initially, it helps you shape the better tomorrow in the end. 

Kick start your business now with the proper planning and keep the momentum going. Empower your small business today and ensure a better tomorrow for your company!

Clara Beck is a Business Manager at Thomson Data based in Plano, Texas. She’s best known for writing about small businesses, entrepreneurship, startups, SMBs, SMEs, and technological innovations.

I hope you enjoyed this blog post about the empowering tips for small businesses and startups to ensure company success.

Interested in more articles about tips to improve small business?

Read Related Resources:

How Small Businesses Can Use Sales Enablement

Ways That YouTube Marketing Can Help Your Small Business

More Bootstrap Business Blog Below 

Official Bootstrap Business Blog Newest Posts From Mike Schiemer Partners And News Outlets