Every entrepreneur wants to know how to more effectively grow their business. While it’s good to focus on the things that can supercharge growth, like improved sales tactics and marketing messaging, you should also be on the lookout for the things that can kill your business’s growth before it’s had a chance to begin.
One of the easiest ways to grow a business is often a small business’s most overlooked element. In many cases, customer service and retention is much lower on the priority list than sales and marketing. In fact, for every $1 spent on marketing, less than 2% is allocated to customer service and retention. Do more in this area and you’ll not only keep existing customers, but generate more repeat business and referrals. You also have to know your market inside and out. If your messaging isn’t working, don’t cast a wider net. Focus in on your chosen market and aim your marketing efforts directly at them. Finally, many small business owners are content with making a sale. But a sale is not the finish line; it’s the starting line. You have to make sure that your customer’s needs are fulfilled, even after the money has exchanged hands.
Read the full article here: 4 Blind Spots That Kill Business Growth
