Starting a small business is tough. It takes resilience, persistence and determination to get your business off the ground. Growing your business can be even tougher.

Many small businesses start out each year, but it is their ability to grow that determines if they will succeed. In the current economic climate, it can seem more difficult than ever to expand and it seems like many businesses may not survive.

But remember, everyone started somewhere, often in times of change. All the big organizations once started out as small businesses. If they all started small, there may be no limit to your own business success. With a plan and some clever approaches, you can achieve growth in your business.

Here are 5 things to look at when growing your small business.

Brand Image

The first step in a customer journey is brand awareness. The more people that are aware of and like you brand, the more sales you are likely to make. Your customers are most drawn to your brands identity and values, so you need to make them appealing. If you have been in business for a while, you already have a brand image and values so how do you use these to grow?

Promotion.

Just like your products or services, your brand image and values need to be promoted. Your products and services need to reflect your brand values and your marketing efforts need to incorporate these values as well as portray your brand image.

Customer Experience

Customers are at the heart of every business, or should be. Without customers, there is no business and your customers will become your best promoters if you treat them right. With this in mind, your business should ensure that the customer experience is made a priority and represents your brand values.

If you are not sure how you can improve your customer experience, why not ask them. Gaining customer feedback is one of the most important metrics a business can have.

Building a loyal customer base is essential for business growth as your loyal customers will continue to make repeat purchases and often bring others into your customer base.

Embrace Digital

The importance of having a digital presence has been highlighted in the past few years and customers are continuing to value a digital experience. Having an optimized and well-designed website allows your business to compete with larger corporations. You are able to reach millions of individuals all around the world who may benefit from your product or service. Ensuring that your website is utilizing search engine optimization, is quick to load and easy to use will mean that people searching for your product or service will land on your site and, hopefully, purchase from you.

You can also utilize the power of social media. Billions of people are purchasing from platforms like Facebook and Instagram daily. Having a presence on social media gives you access to customers as well as improving your brand image and promoting your brand values.

Target Audience

Do you know your target market? What are their problems or issues? How can a purchase from your business solve these issues? If it has been a while since you last had a good look at who you are trying to reach, now is the time.

Gather your customer data to better understand your target demographics. Know who you are marketing to by developing a buyer persona. This will help you gain a better understanding of your customers, allowing you to better promote your products or services to new customers.

Market Research

Another approach you probably utilized in the beginning of your business journey but have not done in a while is competitor research. Studying your competitors can allow you to detect gaps in the market. It can give you some ideas for marketing, customer experience or even new products and services. If there is something your competitors are doing that their customers are dissatisfied with, use that as a point of difference in your business. If there is something that your competitors seem to be doing very well, find ways of incorporating that into your own strategies.

Look through your competitors’ websites and social media to gain insight into their businesses. Read their online reviews to see what their customers think about their business and get a general sense of who they are.

Conclusion

Although it can be difficult, with the right strategies and approaches, your business can continue to grow. It is not a formula for overnight success, but with the right foundations in place and a continued effort to expand, your business will go from strength to strength.