Small Business Ideas

5 Tips To Grow Revenue For Your Small Business Ideas

Once you’ve implemented your small business idea, you need to integrate some smart strategies to ensure it continues on an upward growth curve. This is more important when you’re running an online business. Statistics show that more people shop online than in brick-and-mortar stores because of the convenience it brings. And so, you’ll have to work extra hard to grow your revenue. Here are the tips to do just that:

1)   Put more emphasis on your target audience when you start a business online

The traditional way of reaching customers involves listing your ads on newspapers, and magazines or paying radio and television stations to air them. This is not only expensive, but also it becomes difficult to reach your target audience. In other words, it’s a form of blanket advertisement where you put up and ad and hope that customers will stumble upon them. Today, it’s about focusing on your target audience. And it involves first knowing them in terms of their behavior and where they hang out the most. You can then create ads based on those characteristics and put them in front of your target audience. Focusing on your target audience can increase your conversion rate significantly.

2)   When you start a small business, use magnetic descriptions for your products

Product descriptions are some of the most effective elements to increasing conversions. But to be able to engage customers into taking action, they need to be magnetic. For your products descriptions to be magnetic, they have to be short, crisp and describe your products comprehensively.

Studies after studies have shown that customers rarely read products descriptions to the very end. They normally just scan through the text. And if they don’t find anything important, they will abandon the website; which is why the title of your product description should be masterfully crafted to entice them to slide down to the main content. You should also enhance the readability of your product descriptions by using bullets points, subheadings, and readable fonts. Include a lot of white space and use high-resolution images that bring out the natural characteristics of the products. If you can use explainer videos on the side, the better. Explainer videos have shown to increase conversions threefold.

3)   To start a business online successfully, include a User-generated content section on your website

User-generated content is any form of content (video, text or audio) generated by a customer who has actually used a product. They normally post the content on the website they bought the products. This is good for your online business, and you should encourage it. User-generated content can increase your sales significantly. Customers tend to trust products after reading positive reviews from other customers. So make a point to create a section on your business website dedicated to UGC.

4)   When you decide to start a business, leverage social media to promote it

According to a recent Google report, social media drives more sales to e-commerce websites than any other platform. This is because potential clients like to hang out on social media these days. However, there is only one currency to succeed with social media; engagement. Engagement involves shares, likes, and comments. If you are able to ramp up engagements for your posts, then you can easily succeed to drive up your sales with social media.

5)   To start and run a successful business, you must follow up abandoned carts   

Shopping cart abandonment is one of the challenges online business owners face. Customers abandon their shopping carts because of many reasons, including lack of their preferred payment option, unexpected shipping cost, concerns about payment security, and slow check out processes. You should always follow up with your customers to determine why they abandoned their shopping cart and initiate corrective action. You should also offer them some form of discount to encourage them to complete their purchasing process. This will help skyrocket your sales.

Conclusion

There are many other ways to beef up your small business sales, but this list is enough to point you to the right direction. Just know that creating a successful business needs time. But if you can offer high-quality products, superb content, and solid marketing tips, the time can be relatively shorter.