Whether your business has been running for years, or you are just starting out, one thing is constant, every entrepreneur’s goal is to grow a profitable business. The market competition has gotten more intense over the years and a lot of decisions intended to make your business grow are made.
Unfortunately, there are some actions you are taking that can result in a long-term damage to your business if you do not stop immediately. so, if you want your business to enjoy a steady growth, take a moment to make sure you are not making these harmful mistakes:
Selling to everyone
Your products are diverse and when creating a marketing strategy, it’s easier to market to everybody right? Wrong. No matter how diverse or generic your products are, everyone cannot be your audience. you have to choose who you want to market to. Marketing to everyone does not guarantee large returns.
If you want to create a good impression with your business, stand out and be unique. it keeps you relevant and you can craft messages for one segment of the population at a time.
Spamming your customers
Constant communication between customers and the business is essential to build up a connection and create a community. However, it’s important to be moderate with your marketing and not come off as too “salesy”. it is a huge turn off for your customers.
if you keep a blog and send newsletters to your customers, keep them informed but avoid spamming them with messages. It can be annoying, comes off as desperate and can discourage them from doing business with you.
Poor customer service
Your business can have everything right in terms of marketing and products, but if the customer service is subpar or lacking, people will take their business elsewhere. it isn’t limited to talking to customers rudely.
Not being able to provide adequate answers to questions about your products and services is a sign of poor Customer service. Employees must understand your products and services and be able to answer questions.
Instead of arguing with a customer on why a certain policy is a certain way, Complaints should be handled promptly and in a reassuring manner. Doing this would bring about an increase in loyalty, referrals and profits.
Investing too much or not enough
That campaign you are working on can become disastrous if you do not properly balance your investments. If you invest too much money on a campaign without studying the risks, knowing your audience, what platforms work the best etc. you would end up wasting resources.
On the other hand, not investing too little will leave your business lacking and can stunt your growth. Need help with making financial decisions about your business, reach out to us. We would provide you with access to workshops, financial literacy programs and financial resources that will help boost your business.
We are hopeful these tips were helpful.