2016 is looking like being a rough one in terms of the economy, and budget-tightening can lead to business growth being stifled. But by employing some or all of the following tactics, you can still help your business to expand and make the most of the marketplace, with relatively-little expenditure…
If you have some money available for investment, have decent knowledge of the markets, and are comfortable with the risk, then you could do worse than online trading to boost your business growth. Choose a platform such as IG Financial Trading and you can get immediate access to more than 10,000 markets worldwide at a few clicks of a button so that you can speculate on shares, forex and commodities. Many markets are open 24 hours, so you can comfortably fit it in around your own business hours, and you can expect to have cutting-edge technology available to help you make the best decisions.
This is risk involved, naturally, and no-one should enter the marketplace without being aware of what they can afford to lose. But when a well-placed trade can generate enough capital in seconds to carry your business through a slow patch, financial trading is worth investigating.
Social media has exploded over the last decade to become one of the leading forms of marketing that companies worldwide employ. Why? It’s instantaneous, it’s global, it’s effective and it’s inexpensive. Need any more reasons? How about the fact that anyone can pick up the basics with just a few hours of research, and no need to use any external provider. Social media has disrupted the field of marketing permanently and it’s safe to say that it can have a major impact on the growth of almost any business if used correctly.
It’s vital to select the social media platforms that are appropriate for your business and will give you the most ROI. If you intend to give it a serious push then consider appointing someone within your company to manage it full-time. Social media has the potential to build your brand, boost sales, communicate with customers in different ways and tell your company’s story effectively, so if you don’t currently have a presence, it’s something you should seriously consider.
Is your business in a position where it could sell its products or services online as well as through a physical outlet? An initial cost outlay in an e-commerce store can pay for itself quickly, vastly reducing overheads, and combined with social media there is potential for incredible growth.
Many retail businesses are now focusing on cross-channel selling, whereby they will be offering services such as click ‘n’ collect, so customers can buy something online before picking it up instore.
A strategic partnership with a company that’s in a related sphere can help you to reach new markets. One classic example is the taxi firm that pairs up with bars, pubs and restaurants in the area to offer discounted journeys for customers in return for being the preferred company that is called whenever a taxi is requested.
Other advantages of partnerships include being able to provide a more holistic experience for your existing clients, sharing the costs of marketing, and developing innovative new products and services.
Uptake of Cloud application services has not stopped rising over the last few years, with one survey of British businesses revealing that around 70% use them to some degree. The benefits of the Cloud to businesses of all types are manifold, from enabling remote working to reduced IT costs and greater security.
If your business requires multiple forms of software, retention of data or advanced security, then it makes perfect sense to put some or all of that in the hands of a Cloud provider and focus your attention elsewhere. This, it could be argued, is a core reason why Cloud computing is so popular with businesses – it frees up time to spend on growing your company, providing solutions that grow alongside you.