According to Get2Growth.com you will find 305 Million total startups annually. Of these startups, only 10% can survive.
What are you able to do to ensure you're the fortunate 10%?
You can start by implementing these 5 Most important items To Grow Your company.
1 – Unique Value Proposition
It's important to create a Unique Value Proposition (UVP).
A UVP is really a clearly defined statement that encompasses the benefits of your products or services. It differentiates you against your competition. It answers a specific problem that the potential customers have.
Failing to locate your unique value proposition can lead to the main reason startups fail.
2 – Brand Ambassador
Find brand ambassadors to assist promote your product or service. A brand ambassador is really a customer who loves your brand a lot they're willing to promote your company inside a positive light, which supports increase brand awareness and purchasers.
A brand ambassador may already be talking up your product/service to their friends, family, really anyone who will listen. They are the biggest fan.
This person or group can help promote new products, services, promotions, events. You name it!
You can pay a brand ambassador but often times providing them discounts, exclusives offers, or occasionally a free item is all they require.
3 – Utilize Social Media
This is essential for just about any company, especially a mystery startup. Social media platforms help you interact with your customer, zinc heightens brand awareness and loyalty, and can boost your sales.
For social media to work, you need to do not only create a merchant account. You need to be active – posting daily, reading customer reviews, and answering any customer questions inside a reasonable time frame.
4 – Request Referrals
It's so simple, a customer just purchased your products or services, they'd a great experience, ask them for a referral. As obvious because this sounds, you would be surprised the number of companies don't request a referral.
A referral is free of charge, there are no costs. And the conversion rate for referral's are greater than every other marketing channel.
This is essential technique for any business owner.
5 – Have to know Your Competition
Step 1 – Identify Your Competition
Step 2 – Know Your Competition.
Know their strengths and weaknesses, their products, pricing, marketing messages. Follow them on social media, sign up for their products and services, get on this list.
You are basically stalking your competitors.
Another great resource to stay on top of what your competitors does is Google Alerts. Google Alerts will monitor the net and send you updates whenever a new result appears – such as a new web page, articles, or blogs.
With research you are able to determine what your competition is doing well, what they're doing much like your company. It will provide you insight regarding how to make your product, service, pricing, quality, location better!
Be on top of who your competitors is today and who it might be tomorrow. With over 300 Million startups annually, your brand-new competition might be starting out.
