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According to statistics from Guidant Financial, a large percentage of small business owners (almost 54 percent) believe that the pandemic’s influence on their operations will continue through 2023. Despite this, 83.4 percent of those surveyed believe their business strategy will be able to withstand the pandemic. 41 percent of firms plan to expand or remodel, and 39.7 percent plan to spend on digital marketing, according to a new survey.
Small business owners are always on the lookout for new ways to develop and better serve their consumers. If you’re wondering how to expand your business in 2023, here are some ideas we’ve come up with to help you do just that. Other than going abroad with the aid of a Global PEO company
Boost Your Internet Visibility
For customers, online and mobile purchasing is growing increasingly popular. Consider boosting your business’s online presence to reach the increasing number of online customers.
If you don’t already have profiles on sites like Shopify or Etsy, sign up as a merchant there. To boost the number of potential customers who learn about your professional services, you should include your firm or service on freelancing or contractual directory websites.
Create a Fun Work Environment
Company culture is crucial in today’s rapidly changing workplace. A company’s success is based on the health and happiness of its people, not just their ability to learn and grow in the workplace.
You need both revenue and a positive vibe for your business strategy to be successful; in fact, they’re intertwined. There has never been a more critical time for business executives to develop strategies for connecting their employees and making them feel as though they are a part of something bigger than themselves.
Restructure Your Digital Marketing Approach
Post-pandemic businesses must have a plan that includes social media, Google, and search engine optimization (SEO). SEO may be more critical than ever before, but it’s still an absolute must to be successful in the digital marketplace. If you aren’t utilizing all of your digital marketing options, it’s time to rethink your plan.
Retailers who want to see a rise in total product sales may consider increasing their spending on Amazon or other e-commerce platforms. You can also promote select products on your nationwide retail sales channel for enhanced visibility and promotion. Think about the trends you saw in 2023 and how you might be able to reach a wider audience.
Maximize the Power of SEO Video
As video is the most popular type of content, video marketing is becoming increasingly crucial. TikTok, Instagram, and other social networking sites have seen a rise in the popularity of videos.
Video is predicted to account for 82% of all user traffic in 2023, thus video SEO should be a major concern for your firm. Short-form videos using a screen recorder can assist raise your website’s organic traffic, and video transcripts can expand your videos’ audience, readability, and searchability.
Leverage the Power of Micro-Influencers to Expand Your Audience.
“Influencer marketing” is a method that assists firms in promoting their products to certain audiences in an effective manner and is not always expensive. It is useful for the expansion of brands owned by smaller firms.
To grow your company, you won’t even need to recruit high-profile influencers to help you out. Begin by identifying a few micro-influencers who are interested in collaborating with your company. If they can assist raise engagement rates by increasing brand exposure, then they are an investment that is well worth doing.
Form Strategic Marketing Partnerships
Brands might form strategic marketing collaborations to reach a broader demographic. A discount voucher for your partner’s complementary products or services should be included with every purchase of your own goods.
It is possible to make money from this mutually advantageous marketing strategy if you are targeting the same customers. Co-branding projects or commodities with a strategic partner can help you expand your market reach and strengthen your brand.
Optimize Workforce Costs
Small business priorities rely on the expertise provided by independent contractors and freelancers to develop and succeed. Work towards optimizing resources and building remote teams that are productive.
Since existing employees are either freelancers or independent contractors, you can save money on full-time employee salaries and benefits. And do this while also retaining a well-trained team.
Strategic alliances and innovative use of digital platforms will present new growth opportunities in the next year. Think beyond the box when it comes to your collaborations this year. When it comes to expanding your business, the perfect alliance can make all the difference.
Sometimes, it’s better to go on a new path and broaden your horizons rather than seek out a complementary mate. Remember that many companies who resisted going digital have really found significant success through e-commerce & social media campaigns, so keep an open attitude to new technologies and platforms.
A Customer-centric Approach
Focus on the customer experience, client retention, and building a strong referral program. One of the best ways for small ecommerce companies to do that is timely order delivery and easy returns, which you can secure from providers like https://redstagfulfillment.com/3pl-definition-process-resources/.
Over the previous few years, your customers’ lives have likely seen a major shift. Have your products, marketing initiatives, and customer service improved to match your customers’ needs, both now and in the future? How do you keep and add value to current customers?
So many business owners do not spend enough time getting to know their consumers and their wants, desires, anxieties, and motivators. This will establish you apart from your competitors.
Businesses have had a difficult time planning for the next two years because of the outbreak. In any event, there’s a good chance that everything will return to normal in 2023. Reflect on where you want your business to be at the end of 2023, and then take a look at where you are now.
We learned a lot about adaptability and resiliency through the Covid-19 pandemic, as well as the value of pushing ourselves to our limits. Come up with new ideas and try new things if you want to see real progress in your business this year.