To successfully navigate these uncertain times, I believe that you need to adopt a growth mindset for your business. A mindset of abundance. Many small business owners are focusing on keeping their heads above water as they try to survive the economic fallout of the global pandemic. Why not approach this unique and unprecedented challenge through the lens of a growth marketer with new perspectives?
When it comes to running a business, the seemingly impossible task of attracting new customers can be daunting for many people. It’s often a case of not knowing which marketing channels to utilize. In a time like this, with the global pandemic still unfolding, your ambitions for growth may feel unobtainable, but it certainly is not impossible. In fact small pivots are leading to tremendous opportunities for the few that look.
There are thousands of B2B and B2C businesses that have continued to gain new customers and expand their client bases during the global pandemic. For some, their growth may have slowed. For others, their growth may have rapidly accelerated as a result of pivoting their marketing strategy to adapt to this changing market. It’s a fascinating time that’s creating plenty of winners.
So, how do you become one of them? Well, as I continue to grow and scale my own B2B productized service business, Applause Lab, I want to share some ideas with you on how you could be accelerating the growth of your business during this uncertain time. The wallets of consumers are, without a doubt, much tighter than they were a month ago, but that doesn’t mean they can’t be opened. Money is still exchanging hands — just in different ways.
In this article, we are going to be taking a look at five proactive steps that you can take to grow your business during a global pandemic. Do you know what the best bit is? You don’t even need to leave your home! I’ve been fascinated by how this global pandemic is shifting people’s opinions on the concept of remote working, but that’s a topic for another day.
Leverage LinkedIn To Build More Meaningful Connections
LinkedIn is one of the most powerful marketing channels that you have at your disposal. There’s a common misconception that you need a large following on this social media platform for it to be an effective tool of networking, but this simply is not true. With a few tricks and techniques under your belt, LinkedIn will become a core part of your marketing campaign.
Through the use of hashtags, you will be able to ensure that your posts reach professionals in your industry or sector. With engaging content that creates discussion and debate, you will quickly be able to amass a reasonably sized audience of professionals and like-minded individuals to help you get through these tough times.
There are a few unspoken rules about LinkedIn, especially when it comes to direct messaging. As standard practice, you should never send someone a sales pitch immediately after connecting with them on the platform. First and foremost, LinkedIn should be used to build meaningful relationships with other professionals, not primarily as an outreach tool.
Join Facebook Groups To Engage With Other Business Owners
I am currently the co-administrator of the Productized Community Facebook group. This is a group filled with highly ambitious and enthusiastic entrepreneurs that are attempting to scale productized service-based businesses. We have individuals in this group from all corners of the world and all walks of life. It’s an eclectic mix of like-minded people with big dreams.
Being part of the groups is important because it gives you an opportunity to engage with small business owners that may be wrestling with the same challenges and struggles that you currently face. The life of an entrepreneur can be a lonely one, which is why it is vital to surround yourself with people that can support you on your journey, especially in tough times.
Facebook groups are a place where you can receive and give value. If you answer a question that someone has posted in a group, it is immediately going to make you more visible on the platform and potentially draw more eyeballs to your profile. At the same time, if you help people out by answering their questions, they’re more likely to do the same for you.
Scale-Up Your Cold Emailing Campaigns
It has almost become fashionable to say that email is the ‘thing of the past’. However, the truth remains that email communication is still at the very core of business operations across the globe. If you’re a B2B business, cold emailing campaigns are almost always worth your time, and you should be thinking about ways to scale this in the next few weeks.
As America gets back to work, there’s going to be a lot of competition in the inbox. Your subject lines might be incredibly intriguing, but are your email campaigns going to enough people? During this global pandemic, you should be exploring ways to scale-up your cold emailing campaigns, reaching out to more people and testing different value based “top of mind” email templates.
A/B testing is a crucial component of a successful email marketing campaign. Besides, crafting a cold email template that fires on all cylinders is an art. The best way to know what works is by splitting your email list to see which email template generates the most conversions. Email marketing is a constant learning process, and now is the ideal time to jump in.
Go The Extra Mile With Your Existing Customers
Do you go out of your way to make sure that your customers are more than satisfied with your products and services? Customer satisfaction is the key to increasing retention and advocacy. Every stage of the customer journey is important, but the ‘retention’ stage is often neglected by business owners. If you want your customers to keep paying for your products and services, you must make sure that the value proposition increases over time.
You need an army of existing customers that are ready and willing to start advocating for your products and services. It’s every small business owner’s dream to have their customers singing from the rooftops about their positive experiences with the products and services they offer. Business owners do, however, face a considerable challenge in getting customers to this point.
To get a customer to the stage in the customer journey where they are ready to start advocating for your business, you need to have already established a strong relationship with them. This rarely happens overnight, and you will need to provide customers with the highest levels of service to turn them into advocates – which are essential to business growth.
Launch An Affiliate Program For Referrals
A powerful way to boost advocacy is by incentivizing it. If you’re having trouble getting your existing customers to spread the word about your products and services, you could offer them a financial incentive for sending new customers your way. Affiliate programs are becoming increasingly popular in SaaS and productized businesses.
From experience, many of the productized businesses that I have worked with on a consulting basis have grown significantly through referrals. There’s no better way for a person to hear about your products and services than through someone that they trust. This can really help to drive prospects towards making a buying decision.
Initially, to get the ball rolling, you can easily set up a referral form for your customers to fill out using a tool like Google Forms. When you have more time, you could explore creating a dedicated page on your website that talks about your affiliate program in more detail.
We hope you found this article useful as you continue to steer the ship and navigate through the treacherous waters of this global pandemic. I am a firm believer in the idea that there’s always light at the end of the tunnel. It may take a while for everyone to be back to ‘business as usual’, but with a growth mindset, you will still be able to take positive steps forward with your business in the meantime.