If you are the owner of an online business, striking the right balance between saving money and spending it to grow is always one of the biggest challenges.
Without a robust strategy, you risk spreading too thin, and wasting your precious resources (money, time, effort) in fruitless avenues that will go nowhere.
Investing your capital in a solid growth strategy is vital to have a chance of finding new prospects, consolidating new leads, and ultimately increasing your revenues. In other words, the more you spend, the more you will earn… up to a certain point, at least.
Let’s check out 10 solutions to grow your online enterprise and enjoy your career as a digital entrepreneur.
1. Use a marketing platform
Marketing platforms are a terrific tool to deliver targeted messages to the perfect audiences, automate programmatic media delivery, and increase conversions.
The right use of notification tools and social proof provided by marketing platforms has the power to influence users’ behavior by validating your brand. Some of them, such as crowdy.ai can enhance customer experience and make them feel much more engaged by your website. They can also help you make your website compliant with GDPR and other privacy rules.
Overall, marketing platforms are a cheap and incredibly effective tool to keep your audiences excited and interested in your services and products.
2. Improve your team communication
When a digital enterprise has finally outgrown its start-up phase to become a fully-fledged online business, the number of people that need to be coordinated will likely grow.
Leading one or more teams of employees requires a certain degree of agility – especially if those people do not work inside a physical office where they share the same space.
Effective team communication is critical to avoid workflow disruptions and misunderstandings.
Using the right tools, such as a secure instant messenger Brosix or AI-powered team chat Chanty, can make a huge difference when your employees live or operate in different countries. Every digital business owner knows very well what are the benefits of using IMs in business communication.
3. Focus on winning strategies only
If you found a formula that works very well to, say, attract your customers or convert visitors into leads, don’t change it.
As simple as this advice may seem, a lot of business owners seem to miss the importance of the part “if it works, don’t fix it”.
Running multiple advertisements on multiple platforms can quickly bleed you out, but if a campaign provided you with good results, just run it again. You will save a lot of money spent on planning and brainstorming, and you will also earn more experience in that particular platform to make your future campaigns even more efficient.
4. Make the best out of social networks
Social media platforms such as Instagram or Facebook are a great place to showcase your content in a quick and simple way, but they can also be used in a lot of other ways.
In particular, social media monitoring can fill many secondary roles that would require you to invest money in different marketing avenues.
For example, Twitter can be used to provide a straightforward answer to a question that a lot of customers keep repeating.
YouTube can strengthen your organic SEO efforts by creating keyword-optimized videos.
Your Facebook page can be the perfect place to offer customer service, and LinkedIn can be used to connect with other brand influencers and companies.
5. Invest in organic SEO marketing
Organic SEO is one of the oldest and most effective online marketing strategies.
Many companies often underestimate this approach because of the relatively low amount of conversions and leads which it provides on an immediate basis.
SEO strategies do not work here and now, and they require a lot of patience to show their first results. You sow the seeds today and reap the fruits tomorrow. However, planning your SEO carefully will grant you with a steady flow of relevant traffic aimed at your website.
If you take into account that SEO marketing only costs a fraction of any PPC or social media marketing advertising campaign, it’s easy to understand how high its ROI is.
6. Enhance your website’s visuals and colors
Enhancing the visuals of your website is paramount if you want to stay competitive.
Today, the vast majority of people that will casually browse your website will do so with their smartphones, so you don’t have so much space to fill it with heavy-weight media and complex graphics.
Keep your palette colorful and straightforward – accessibility and speed should always be your priorities.
At the same time, don’t forget that colors are linked to emotions and are a fantastic way to catch the attention of your customers. Use them wisely!
7. Invest in video content – now
Videos get better shares and conversions than everything else. Period.
When a video goes viral, your brand will gain a lot of traction as you reach countless people naturally.
Did you know that 9 out of 10 mobile users share videos with other people? It’s just as simple as it sounds.
People base their choices on feelings. The brands they favor and the products they buy are vastly depending on the emotions they experience when that object is presented to them. Videos can reach their hearts, touch their emotional strings, talk to their inner children or simply make them laugh.
8. Establish a solid backlink strategy
A solid backlink building is, still today, a fundamental component of any robust online marketing strategy.
Backlinks will tell Google what your website is about, increase your authority, boost your rankings, and ultimately help you steer a lot of traffic towards it.
Experts refer to backlinks as a website’s link juice, and this metaphor is indeed quite appropriate. The links that outside sources direct toward your site are, in fact, very similar to blood vessels that “nourish” it with a constant flow of traffic and authority.
9. Gather all the data you need
You cannot plan anything if you have no idea about what’s going on.
Gathering all the data about your sales, deals, inventory, competitors, reorders and even type of customers is a necessary step before you can even think about taking any decision.
Data-driven insights are much more reliable than plain intuition. If your business is entirely online, you can easily keep track of all your channels and get a practical overview of all the numbers in place.
10. Request a small business loan
Finding new funds to grow could be really hard.
When you have to struggle month by month just to stay afloat and pay your expenses, saving enough to grow and expand your business may seem like an impossible challenge.
Securing some additional capital can be the perfect answer to extend your reach invest into new ventures, increase your advertising efforts, and ultimately increase your revenues. A small loan can fix your cash flow management issues, especially if you’re facing a financial drought.
In order for your online business to thrive, you need to align your marketing efforts to a robust long-term plan.
Implementing these business growth strategies, knowing which techs you should use, or understanding where you want to invest your money are paramount to ensure your success as a digital entrepreneur!