Business expansion is no easy feat. However, with difficulty comes the potential for great benefit.
The greatest benefit one can achieve from business expansion is a growth of capital, as well as a reduction in the cost of manufacturing and production of your products. By purchasing your products in a greater quantity [in bulk], you can get large discounts. Additionally, business growth can also:
- Generate more profitable deals and lead to more sales.
- Increase your stock, resources, and manpower.
- Reach customers and markets that would otherwise go unfound.
- Generate more money for your business.
- Reduce the risk of competition.
In this article, we will give a few essential tips for expanding your business into new markets. Let’s dig in, shall we?
A new, more efficient web-design
As your business grows, so should your website. Most business owners will start with a very basic template offered by a service like WordPress. Over time, as they begin to earn more money from the business, they will be financially able to invest in areas that need improvement, such as their outdated web-design.
However, hiring a web designer is not a suitable solution for everyone. According to a review from MilesBeckler.com, a viable alternative is to simply purchase and download a better, more efficient web template rather than paying a fortune for an independent web-designer to create a bespoke website for you. This can save you both time and money, and instead of waiting weeks for your bespoke website to be ready, you can have your website up-and-running the same day you purchase the template.
A new interactive website will improve your business’s growth and expansion by drawing in new customers from throughout the world. Remember that, to connect with clients in countries where English is not spoken it’s essential to have your website professionally translated. For the best results work with a translation agency that offers localization services.
Social media marketing
Social media marketing is a great way to expand your business to new markets and help with the growth of your company. There are many ways in which one can utilize social media for business growth. Too many to mention in fact, and rather than going over all of the potential ways in which one can grow through social media, we would like to highlight the two most prominent methods. There are many platforms you can use, but we will be concentrating on Instagram and Facebook.
Influencers are social media personalities who have almost cult-like followings. They very often have tens of thousands of followers, all of whom treat them [the influencer] like a celebrity. And, because of their presence, they can influence their followers into purchasing and supporting your brand, business, or service, hence the name.
Influencers do, admittedly, cost money as they do not work for free. You can sponsor them on a contract-basis to advertise your business, as well as offering them affiliate marketing services to further incentivize aiding your business’s growth.
Social media homepages are a fantastic way to create a digital presence and expand your business into new markets. There are over a billion estimated social media users, with hundreds of millions using social media at one time. Creating a social media presence allows you to develop intimate bonds with your customers and communicate directly with them.
Creating a social media homepage should be at the forefront of your business development strategy, for it can be a very lucrative way to expand your business, and now, with many platforms offering in-application purchases, you will be able to create a digital store.
SEO [search engine optimization] is a method of marketing in which one manipulates Google’s algorithm to rank their website higher on the search listings. This is done through strategic keyword placement and research. SEO marketing has proved highly successful for many businesses over the years, and at this time, is the number one method of business marketing and growth on the internet. SEO is not something to be neglected, and truthfully, if you have not already made use of it in some shape or form, you are putting your business at a great disadvantage.
Strategize and create a plan
Deviating somewhat from actual methods of business growth and development, we will, for our last point, recommend to you that you strategize and develop a plan. Shockingly, some businesses wing it and do not create marketing plans. This approach seldom works and if you want to succeed, you will need a well-thought-out strategy. You can outsource a marketing team or develop one in-house – whichever you find easiest.
Developing and strategizing enables your business to plan out its next steps over a period of months and years, allowing you insight into the future of your business.
With the help of this page, you now know some effective ways in which you can expand and grow your business. Business growth is absolutely essential to success. In your company’s first few years it can survive small, but over time, it will need to grow. Think big, and you will succeed.
As your company grows and expands into international markets, the need for professional translation services will also increase. You may require French translation if you plan to branch out into the European market, while Chinese translation is a must for businesses moving into certain Asian markets. Whatever your international business goals, BeTranslated’s talented translators and experienced project managers can provide you with high-quality, efficient service. For more information or a free, no-obligation quote, get in touch today.