You run a small business. Great! You’re doing well and things are slowly ticking over; orders are coming through the door and business isn’t bad at all. But what would your reaction be if somebody said you could be doing better? Would you agree – or vehemently deny that you could be working harder to grow your business?
It’s normal for those running a small business to find a groove, maybe after a few years, and stay in it. You’ve got over the one year hump unscathed, and now you feel you can take your foot off the gas a little. If you have customers coming through the door at an acceptable level, why should you keep pushing for more? But it’s all too easy to get caught in your business bubble, relying on the same customers to keep coming back and hoping that the current channels that supply new clients just keep on giving.
However the business world can be harsh and unforgiving, meaning you need to stay one step ahead. One of the easiest ways to keep the supply chain running is to be aware of your demographic and constantly seek ways to expand on it. Be prepared to change your approach in order to capture new customers.
Explore your options
Maybe you currently run a local business and advertise your services in the local press, possibly also running an advert on local radio. If it works then of course stick with it, but also think about the customers you are failing to reach. Not everyone cares for printed press or listens to local radio. Why not dip your toe into online advertising and grab some advertising space on a relevant website. Maybe try out Facebook adverts or really ramp up your website, so that people start finding you in local Google searches – and if you haven’t got a website, get one right now!
Of course, this also works the other way. If you have all of your eggs in the online basket, why not go free range and try some offline promotion too? Try out local press and see what response you get. You could be pleasantly surprised. The key is to critically assess the success of any new or existing advertising strategy on a regular basis, so that you can change tactics quickly and avoid wasting money.
Always be aware of all your advertising options; you could be missing out on a large new customer base just because you haven’t reached them. If your business advertising is currently working, that’s great. But always be prepared change your approach in case results falter or worse still, dry up completely. Explore your options, because the more people who know about your business, the better.
Nobody will walk through your door or visit your website unless they know it’s there!
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We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!