Small Business Advice

The 5 tips you need to take your business from 0 to 100

In this article, we cover the essential tips for growing your business.

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If you’re investing in marketing, connecting with your customers, and banking with a neo bank, then you’re already doing small business growth. Pair that with a good checking account and watch your business go from 0 to 100.

Of all small business essentials, friendly banking is arguably the most important for many reasons. For one, accounts that are meant for small businesses are affordable. For example, the Nearside small business checking account* offers checking with no NSF fees, no minimum deposit requirements and no monthly fees. Instead of spending your profits on banking charges, you get to re-invest them in growth.

 A good checking account is not the only thing that can boost small business growth. Here are more tips for growing business:

Invest in organic marketing

Organic marketing refers to the process of getting customers to discover your business and come to you naturally, rather than paid advertising where you pay per view or click.Organic marketing allows your business to build proper credibility with its customers. You’re not paying for a spot in search engines or social media platforms. Over the long-term, organic marketing brings loyal customers who are genuinely interested in your products.

How do you do organic marketing for small business growth? Start by building a responsive website for your business. This will allow internet users to find your website, whether they use smartphones, tablets or computers. 

Secondly, make sure the website is optimized for search engines. Search engine optimization (SEO) increases organic discoverability as well as conversion rate. SEO includes:

  • Keyword research and use
  • Creating quality web content for your niche
  • Using structured data to improve your website’s ranking in search engines
  • Doing local SEO to attract customers within your locality

Click here to learn more about SEO for small business.

Next, leverage on social media marketing. Pick social media platforms that your potential customers frequently use. Regularly and consistently post on those platforms to create your brand voice and awareness..

Obviously, there’s a lot that goes into online marketing. Check out these detailed tips for growing business through SEO and social media marketing.

*Hatch is a financial technology company and not a bank. Banking services are provided by Lending Club Bank, NA, Member FDIC.

Get to know your customers

One of the most important small business essentials is knowing and understanding your customers and their needs You can tailor your marketing strategies and products to meet those needs. How can you get to know your customers?

  • Leverage social media by directly by creating engaging content and interacting with customers
  • Ask customers to communicate all type of feedback to you
  • Respond to their queries
  • Occasionally shout out your loyal and happy customers so that they feel a personal connection with your brand
  • Conduct market surveys of your potential customers
  • Create after sale services like email lists where you can directly interact with customers
  • Create customer profiles
  • Host giveaways and contests 

The thing with genuine connections with customers is that they can’t be bought. Instead, you build them over time through experience and trust.

Build a two-way relationship by telling your brand story in a way that customers can relate with. For example, use every opportunity to tell customers how your brand came to be. Create a detailed “About Us” page with all the milestones you’ve achieved. Remember to use images and videos to make your story more attractive.

Start a rewards or referral program

Starting a rewards and referral program from the outset is a simple yet effective method of growing a small business. It doesn’t just create leads; it also almost guarantees conversion.

Customers are more likely to buy your products or services when they are referred to your brand by their friends, family, colleagues etc. Offer a discount or premium product to every customer who recommends your products to their friends.

You can also offer rewards to customers who complete preset milestones. For example, you may have a set of rewards for those who subscribe to your socials and newsletters. You can even introduce a loyalty reward for customers who regularly use your products for a year or so.

Use a neobank to avoid unnecessary fees

Neobanks are fintech firms that streamline and improve financial services. They offer software and apps that make mobile and online banking convenient, affordable and easier. Compared to traditional banks, neobanks tend to be nimbler, cheaper, and more transparent.

They also offer all their services online, which means that most neobanks don’t invest heavily in physical infrastructure like locations and branches.Neo banks and fintech firms tend to have low operating costs. And they usually pass these cost-saving benefits to their customers by offering free or low-cost banking services. 

Therefore, banking with a neobank is a great way of keeping your banking fees low. This, in turn, leaves you with more money to grow your business.

Nearside is a good example of a firm that offers free checking accounts. The Nearside cashback debit card comes with no monthly fees, no minimum deposit requirements, and 2.2% universal cashback rewards on all debit purchases in 2022! Bundle these together and your business stands to save plenty in banking fees every month.

Invest in analytics early on

Measuring the success rate of your marketing strategy is just as important as the other tips for growing business. Analytics will help you figure out which marketing strategies are working and which ones aren’t. As a small business, you’re almost certainly working with a limited budget for marketing. You therefore need this information so that you know the strategies to invest in most – the ones with the highest ROI.

The best part is that there are lots of free or affordable yet capable software for analytics. For example, social media platforms like Twitter and Facebook have built-in analytics that can help you know the demographics of your customers and engagements. Google Analytics does the same. Whatever tool you use, it will help you to track and measure performance metrics and turn engagements into conversions.

Final thoughts

With the above tips for growing business, it’s possible to take your company from 0 to 100 faster than your competition. They are simple enough to implement cheaply and without a marketing department. That’s a good thing because the last thing you want is a complicated marketing strategy that will eat up all your profits and consume all your time.

For more small business essentials, visit the Nearside Blog.

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