Small businesses success tips. (Part 1)
Many, if not all, entrepreneurs will attest that setting up and running a business till achieving break-even level and even profit, isn’t an easy task as it has a number of dynamics that come into play. This is however not to say it is impossible or undoable. Quite a number of successful businesses have been set up locally and ended up being very successful due to keen interest in the details. Let’s look at some of these details that are never to be ignored by a business owner.
Having online presence
A recent survey by Ipsos MediaCT show that over 70% of customers do online research prior to buying from a store. This could be attributed to the increased mobile penetration rates and lower data costs seen all across the world. Having a simple professional website isn’t quite a hustle nowadays with the main aim of having your company profile and business details put out there. This could also be enhanced by having social media presence such as facebook, twitter and Instagram. Depending on the business’ target market, the above tools shall surely go a long way to promote your business.
Adopting different marketing strategies
As much as traditional marketing media, which include print and audio visual, cannot be ignored, newer and better ways of marketing exist and greatly help in reducing business costs as we’ll highlight below. Marketing strategies like “word of mouth” are equally efficient as the others, if not more efficient. By default, customers refer each other depending on their satisfactory levels provided by the business. Concentrate on providing professional service and also build reputation by supporting and sponsoring community based services and also allocate a portion of your budget to charity.
Already mentioned above, a customer’s satisfactory level will determine whether they would spread the business’ “gospel” among their friends, relatives and networks. Also, recently, there has been an upsurge of customers who review products and services offered by different entities both online and offline before engaging with the entity. According to Inc.com, at least 84 % trust online reviews as much as a personal recommendation while about 68% form an opinion after reading between one to six online reviews.
The list of factors to consider for making your business successful are surely more than the above discussed and we’ll delve into others in upcoming write-ups. As for now, take note of the mentioned factors and do something to better them if already implemented in your business set up. If not, kindly note that you might be sitting on a ticking time bomb only that you don’t know how many minutes, hours or days remain on the timer. Start doing these today and thank us later. Stay informed on the latest business news in Kenya from our blog.