The key to expanding your business when you’re providing services online, is to understand the intent of your audience, to craft compelling content that meets their needs and provides solutions to the problems they are facing. Of course, as a business, you often are driving those visitors to solutions YOU build or provide and that’s okay!
These are some strategies to consider when you’ve already established your site, to increase your profitability.
Aim To Increase Sales To Existing Customers
It is much easier trying to persuade your existing customers to buy more rather than trying to find completely new ones. This also works out a lot cheaper for you as well, as you don’t have to work on expanding your marketing strategies too much.
Instead, just offer some more products that you know your current customers will love. If you aren’t too sure what you should be offering, go with products or services that are similar to the ones that you currently offer, and don’t forget to check in with your customer service team to find out what “pain points” they hear about from customers. Solving more of your current client’s problems is more manageable than trying to solve problems for people who are not yet aware of your business.
Don’t forget the value of keeping your “Churn rate” under control, the number of people you lose every month vs the number of recurring clients you keep. Many businesses that are trying to expand also offer reward schemes to loyal customers. This ensures that they keep on coming back for more!
Want to reduce your churn rate? This video from Sleeknote will guide you:
Take Over Another Business
The easiest way to increase your profits and sales is to simply buy out and take over another Internet company. Maybe you know a fellow online entrepreneur who wants to sell their business for a profit? Or perhaps you have heard that someone simply wants a change of career and is ready to sell their part of an online business?
Whatever the reason, if you have the capital to buy the business, taking over the company and merging it with your own shouldn’t be too difficult. For more advice, you can see TUPE guidelines for employers on different websites.
Don’t Be Scared To Hire A Contractor
If you have never grown a business from scratch before, it can be a fairly daunting task. And that is why many online entrepreneurs prefer to hire specialist consultants to help them increase the size of their company.
Hiring someone as a contractor is also a great way to free up your cash flow. This is because your expenses will be slightly altered. Your consultant will know exactly what you need to do in order to start bringing in large numbers of sales and profits! For instance, an SEO expert can identify key areas to improve on your website and create a long-term strategy to improve your visibility and conversion on search engines.
Increase Your Online Presence
As an online business, I am sure you will have a strong online presence already. But this needs to be taken up a notch now that you are ready to expand. So you need to actually commit time and energy to your organic marketing strategy to make sure that your business starts to get noticed by even more people. You can improve your online presence with this guide.
Don’t forget that there are skilled SEO consultants who can help shape your strategies. Share current and shareable content on social media. Start blogging so your website’s SEO improves. These are just some of the ways you can take your business from strength to strength online