How is your business going to grow this year?
Whether you’re just getting started with your business, or trying to take an established business to that next step, it’s important to ensure that you are making the most of the opportunities available to grow your brand.
Let’s look at a few ways you can capitalise on some of the biggest opportunities available to your business for the year ahead…
1. Reviews, Testimonials and Social Proof
Research shows that over 90% of online consumers read reviews before buying a product or using a service. Another study found that people trust online reviews equally as much as the opinions of their friends or family.
Ask customers to write a review after they have made a purchase or used your service. It’s important to consider where you think the might be the most appropriate place for your customers to write reviews. This can depend on the type of business you operate. For example, if you are an online retailer you probably want to generate reviews via a consumer review and feedback platform such Trustpilot or Feefo, while if you offer a local service, Google My Business might be a better place for customers to leave reviews of the service you have provided.
2. Facebook ads
The decline of organic reach on Facebook makes the case for running Facebook ads more compelling than ever and with 2.27 billion monthly active users the chances are some of your customers are regularly using Facebook. Facebook allows you to target (and re-target) specific audiences using its rich information about its users. Your business can benefit from this by targeting the people who are most likely to become your customers.
Facebook ads aren’t just for businesses trying to reach consumers either. B2B marketing can be done successfully on Facebook too now. With more advertising options than ever before through the Facebook platform, the possibilities on Facebook are vaster than ever, whatever your business and your objectives.
3. Retarget Website Visitors
For whatever reason, not everyone who visits your website is going to convert into a customer, however retargeting, or remarketing to website visitors who have previously shown some interest in your business’s products or services is a great way to reach a warmer audience who are already aware of your business.
Retargeting can be done through email, the Google Display Networks or Facebook and Instagram ads and can yield some great results if done effectively.
You can start by retargeting your warmest traffic, for example, people who have added a product to their basket, but not made a purchase or people who the people who have shown high levels of engagement on your website. You can retarget these people via email, a display ad or a paid social ad on Facebook or Instagram. Test different types of incentives to get them back to your website.
4. Use incentives
Incentivising new and existing customers to interact with your business or take certain actions is a great way to grow your business. When executed effectively, giveaways are a great way of showcasing your businesses products or services whilst serving as an effective brand awareness practice. Most people are happy to make a commitment, such as to share their email address if there is a chance they could get money off or win something valuable to them.
You can also incentivise existing customers to refer you to their friends by creating a referral scheme or by setting up an affiliate programme to pay them a percentage of the sales revenue.
Incentives do not always have to be monetary, offering money off in the form of a percentage discount is a great way to increase lifetime customer value, whilst obtaining new customers.