While COVID-19 has had a devastating impact on many businesses, it's also sparked a surge in new companies launching. Research from the Centre for Entrepreneurs found that from June 2020 - June 2022, there was about a 50% growth in the formation of new businesses, compared to the June pre-Coronavirus
Having to face redundancy or months of being furloughed has urged many to think on their feet and come up with innovative new business ideas. However, it's well-known that numerous start-ups don't make it past the first year of business. To avoid this, you need a long-term business growth strategy.
Another side-effect of lockdown has been an increase in internet usage, with the average person now spending more than a quarter of their day online. Many businesses have used this to their advantage. According to Growth Intelligence, during lockdown, more than 95,000 businesses launched online stores or joined online marketplaces.
To enhance the success of your business and adapt it to this new way of life, here are 6 big ways to grow your small business online.
1. Gain A Social Media Following
Social media has become the new word of mouth, with many using it to share their experiences and opinions. Research shows that three-quarters of consumers trust opinions they find on social media to guide their purchasing decisions.
If you don't have business social media accounts, you're missing out on the opportunity of free advertising. There is an array of platforms to choose from such as Instagram, Twitter, Pinterest, and Facebook, that can drastically enhance your brand awareness.
Social media is a great way to communicate with customers and solidify brand loyalty. There are plenty of techniques that can help you increase engagement, such as regular and consistent posts, using hashtags, and posting high-quality images. You could also collaborate with influencers to promote your business to their followers and potentially attract a different demographic to your product or service.
2. Take Your Business International
Online marketing can provide your business with global exposure. To fully reap the benefits of this, you could offer your products internationally instead of only focusing and relying on a national market. International expansion can boost sales, improve your brand awareness, and help you stand out against competitors.
Suppose you aren't sure how to oversee global trade operations. In that case, ManSys offer a global trade management software that enables businesses to efficiently manage and control an international business strategy from one platform. If you're concerned about any aspect of this process, such as planning transportation, the independent software company can provide support to help you go global.
3. Build A User-Friendly Website
Without having a good quality website, you'll be losing business. The convenience of online shopping has drastically changed people's shopping habits over the past decade. Many also prefer to window shop online instead of travelling to the high street. Lockdown magnified e-commerce traffic, with shoppers having no other options.
However, a poorly designed website can still lose customers. It takes around 0.05 seconds for users to form an opinion about your website and decide whether they're going to stay to browse or leave. The site needs to be user-friendly, appear professional, be informative, and look attractive to grab people's attention.
Once you've built a great website, you need to ensure people can find it. Most users only check the first page on Google searches and rarely go past the second page. If your site isn't there, a competitor probably will be. You can't underestimate the power of SEO to get your website seen.
4. Complete Online Research
If you're new to the business world, you can further your knowledge by consuming content across the internet. Whether you read informative articles or watch video conferences with leading experts, there is an abundance of helpful advice available online. You could also take an online course at home to gain relevant qualifications and solidify your long-term business plan.
5. Network Virtually
Since lockdown, everybody has become familiar with the video conference platform, Zoom. It's become a useful way to communicate with employees and to host client meetings in this socially distanced world. There have even been virtual networking events so you can continue to make important contacts, share your experience, and learn from like-minded people.
6. Search Engine Optimization (SEO)
Not only is SEO is suitable for small businesses and startups, it’s all very effective for larger companies using enterprise SEO tactics and strategies that suit large companies that have hundreds or thousands of pages. If you want to grow your new online business for the long-term beyond 2022, you need to SEO like a pro.
Go And Grow
The internet has been a valuable marketing tool for years, but it's boomed in 2022, becoming more essential than ever. These online methods can help your business grow and increase the chance of success tenfold.