BBB Shares Business Tips on Small Business Growth Strategies to Adopt
According to the Better Business Bureau (BBB, bbb.org/nebraska), business growth is essential in any year, but 2020 produced unique difficulties. Now more than ever, small business owners need to try new approaches to see continued growth and success. Here are some ideas from the BBB:
1. Market penetration allows you to gain a larger market share by competing with others in your industry.
2. Customer loyalty programs work because customers enjoy signing up for them and will go out of their way to shop at businesses that reward their loyalty.
3. Market development requires you to find new places or ways to sell your product or service.
4. Strategic partnerships with another small business can benefit both by giving each access to new clientele.
5. Product expansion allows you to upsell to your current customer base.
6. New sales and marketing tactics may be done with a marketing campaign you’ve never even considered.
The Better Business Bureau has been serving local communities since 1936. The overall mission of the organization is to be a leader in advancing marketplace trust. For more information, visit bbb.org/nebraska or call (800) 649-6814. For more ideas about growing your business go to bbb.org/article/business/23745.