Many small business owners across the country may want to be able to expand in the coming months, but that's almost always more easily said than done. So the question many might have is just how they're going to be able to do this as successfully as possible, but the solution is usually pretty simple: Find the people most likely to buy the goods or services the companies offer.
That, too, might be easier said than done, but the fact is that most owners probably have this kind of information stored away somewhere, if only they take the time to dig it up, according to a report from Boston television station WBZ. For instance, who are the people who already buy the offerings small businesses have? What's their approximate age, background, income level, etc.? This kind of information can help to color future decisions in terms of who's being targeted for marketing; for instance, if your customer base tends to be older and more affluent professionals, hoping to connect with people on Twitter or Pinterest might not be the best idea, because those types of people tend not to use those social networks.
Once owners know who these people are, and have an established relationship with them, they can suggest that the customers recommend the company to their friends, colleagues, and so on, the report said. Word-of-mouth is a great – and free – way to promote a business, and tends to be trusted more so than, say, online reviews. In addition, though, the more information that's out there about a company, such as through traditional or social marketing, can't hurt either.
What else can help?
It might also be wise to get more involved in the local areas, the report said. By sponsoring local events or groups, companies can get their names out there and make themselves pillars of the community, which may go a long way to engendering good feeling about what a company does beyond what it's trying to sell.
Of course, all of these steps can cost money – whether it's a lot or a little – and as such it might be wise for owners to look at their bottom lines before they make any major decisions. If costs are too high, taking the opportunity to find more affordable small business insurance coverage, such as errors and omissions insurance, in an attempt to potentially save thousands of dollars.
