If you ask any small business owner, one of the major factors affecting business trajectory -- along with other major challenges including cash flow, health care, tax compliance, employee hiring -- is sales. Revenue is a key driver to any business as it is directly related to one's bottom line growth and ability to scale. So then, what are the key factors to increasing sales if you're currently struggling? With only 50% of small businesses surviving past the five-year mark, this is a necessary problem that many of us prioritize. Here are some quick marketing tips directed toward my fellow entrepreneurs that can help fuel growth for your small business.
How To Boost Sales For Your Small Business
1. Live in your niche/engage with your customer
One CBInsights analysis study concluded that 42% of small businesses fail because there is no market need for the product offered. In order to make sure your product is solving a customer challenge, you'll need to live in your niche and constantly engage with your current and potential customer base. Understand how your product can help solve a problem in their lives. Market research via tools, such as customer service surveys or focus groups, can help garner insights to inform better product-related decisions. Building relationships with your customers is always beneficial.
Another way to live in your niche is to attend industry trade events that target your customer or market specifically. This allows you to further understand their buying behavior and what's driving their purchase decisions. You'll also be able to network with other leaders in your industry and share experiences that can yield ideas for how you can better serve your customer.
2. Spend money to make money
As the saying goes, "Scared money don't make no money." In business, investing in advertisements can be a targeted way to drive sales. Depending on your business, social media is a low cost way to start spending ad dollars. First, you'll need to make sure your visual media, sales copy, and call to action is extremely clear. Then, use the social media platform's ad tools to target your ad as specifically as possible. You may need to make different versions of the ad depending upon your market segment.
One size does not fit all. Working with a social media ads expert for training or implementation is a smart investment if you're not comfortable running an ad campaign alone. A solid expert should be able to tailor your visuals, sales copy and call to action to align with your sales goals. Other types of worthwhile paid promotion include buying advertising space on other platforms (websites, podcasts, radio, TV), working with influencers to push your product or service, or even offering affiliate codes to others to help direct traffic to your business.
Depending upon your business, investing in a content marketing strategy can also be valuable. What kind of content can you create or push out into the world that drives brand awareness and inspires customers to take action? If you're a service provider, investing in video content that teaches lessons related to your service might be a way to drive future sales. Or, hiring a publicist that can help you land press opportunities and increase your brand awareness is another smart way to spend marketing dollars. Whatever you choose, you'll want to make sure you're consistently reviewing all reports monthly (or weekly) to make sure there is a positive ROI (return on investment.) Then, adjust if needed.
3. Nurture your email list
Email marketing is an often underlooked tool that can drive business growth. If you aren't investing in building a quality, well-engaged email list now is the time to start. Email marketing is a great way to stay top of mind and build a personal relationship with your audience. However your emails shouldn't always be about driving customers to buy something from you. Use emails as a way to build a sense of genuine community. Share behind the scenes about your company or tips that your customer can use in their own lives. Show that you care.
Making sure you choose the right email service provider based on your business and email needs is also crucial. A good email service provider should allow you to segment your audience so that you can send emails that cater to their past behaviors and experience with your business.
4. Conduct a website audit
If you're an online-based business, you'll want to ensure that it is easy for customers to buy from you. Is your website designed to convert interested customers into paying customers? Take some time to analyze your site for key indicators of future sales performance. Does the site take a long time to load? Are your product and/or service descriptions clear? For example, if you're an online fashion boutique, are your product photos well-taken and edited? Do you have all appropriate sizing information readily available to someone who is looking? Making sure your cart checkout process is easy is also key. Many customers will abandon cart, especially if they can't figure out how to checkout and pay.
Take time to act as a customer and walk through your website experience. Make sure your content is search-engine optimized -- and includes keywords that your customer is searching for. If you notice kinks or detractors, it's more than likely that your customer will as well. Your website doesn't have to be fancy or cost the most to design, but it should be aesthetically appealing, effective, easy to use, and drive action towards your sales goal.
At the end of the day, you'll need to find the right marketing mix that works for your business. The best way to see results and grow your sales is to experiment constantly, review your insights and analytics, and make sure you're intune with customer feedback and needs. Make smart investments in people, systems, and tools that can aid along your business sales journey.
If you need a refresher on marketing tips that convert, check out a favorite of mine -- Guerilla Marketing Remix by Jay Conrad Levinson.
Want more business reads like this? Check out these related reads:
The Power Of The Pivot: How CurlMix Plans To Reach $10M In Sales - Read More
What's Really Keeping You From Your Six-Figure Goals - Read More
The Most Common Mistakes That Keep Us From Reaching Our Business Goals - Read More
I Made $15,000 In Three Months As An Airbnb Host - Read More
Featured image by Getty Images
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Skylar sees things differently. At the time, she was shooting content on her iPhone. Temi came into the picture with a new perspective, an understanding of tech, and, eventually, a camera. “He doesn't give himself enough credit,” Skylar says. “He wasn't just my tripod. He wasn't just standing behind the camera and going ‘click.’ He was giving advice. He was giving me insight to how I could look at things from a different perspective. And I was like, 'Oh, he’s an artist.' I think it was maybe a heartbeat of that kind of energy of like, ‘Baby, can you take this picture?’ And it turned so quickly into, we're partners. We can work together in a way where we're advancing each other's creative thinking.”
The pair often says they’re two sides of the same coin. Skylar is an Aquarius. She attended art school, paints, and loves poetry. She’s more than happy to let the couple’s management firm and agency, Kensington Grey, handle their admin work. And, she loves to sleep in. Temi, on the other hand, wakes up early. He’s a Virgo. He loves a to-do list and regularly checks in on the couple’s brand partnerships spreadsheet to make sure everything is on track.
Because his storytelling was steeped in his love of technology, he didn’t always think of himself as a creative person. “Where I [am] the dreamer who wants to pluck things out of the sky and spend all day with my head in the clouds, Temi [is] so good at grounding me and helping me figure out how to make things make sense on paper. We just work together in such a complimentary way,” Skylar says.
It’s been more than six years since Brooklyn-based couple Temi and Skylar started dating, and nearly four since they cemented their working relationship. On TikTok and Instagram, the couple’s travel, fashion, and home content regularly rack up hundreds of thousands of views. They’ve worked with brands such as Coach, Aesop, Away, and Liquid IV, bringing their vibrant perspectives to every campaign they execute. Still, nearly two years since both Temi and Skylar committed to full-time content creation and creative directing, the couple says their romantic connection remains their priority.
“We told each other we would much rather go back to full-time jobs and preserve our relationship than to be full-time freelancers, barely getting a night's rest [and] barely kissing each other because we're so busy shooting,” Skylar says.
Working from home can make it hard to separate work from personal life for any entrepreneur. It can be even more challenging when your business partner is also your lover. Temi and Skylar had already used couples therapy as a tool to help them effectively communicate with one another. When they ran into challenges while working together, their therapist helped them set physical boundaries to help combat the issues.
"We told each other we would much rather go back to full-time jobs and preserve our relationship than to be full-time freelancers, barely getting a night's rest [and] barely kissing each other because we're so busy shooting."
“It actually took us doing very specific physical things to create boundaries between work and play in our relationship,” Skylar says. “So, for instance, we will only have conversations about work when we're out of bed or we're at the table or in the office. Initially, when we started, we had to light a candle to say that, 'Okay, this is a space where we're connecting, we’re not talking about work.' We needed really hard boundaries at the top. And then it became a little bit more organic.”
The boundaries have been crucial to implement, especially because the couple began working together so naturally. When the pair first met, Skylar was NY-based a social strategist for BuzzFeed and was using content creation to drive business to her lingerie company. She was shooting her own content. Temi was working for Microsoft in D.C. He’d recently traded in his DJing equipment for a camera. “I've always loved taking pictures,” he says. “Even when I was a kid, my African mother would wake me up at 3:00 a.m. [during a] party, and be like, 'Come take the family picture.'”
Growing up, Temi says he watched his parents support each other and be the true definition of partners. He knew he wanted the same for his own relationship. But, the couple also wanted to make sure they were being financially responsible. The pair didn’t quit their traditional jobs until they’d saved up two years' worth of their cost of living. And, Temi received his Master of Business Administration from New York University with the knowledge that it could either help him advance in his corporate career or be applicable to his business with Skylar.
Temi and SkylarCj Hart @hartbreakToday, they say their working relationship is more of a “quiet dance.” They still implement some of the boundaries they learned in therapy, but they also lean into their natural strengths and deep love for one another. When we speak, Temi has planned a date for the couple to see Princess Mononoke in 4K IMAX and added it to their Notion so they can factor it into their busy schedules. “I fully plan to date for the rest of my life,” he says.
Skylar says the couple doesn’t just wait for date nights to check in with one another, though. This often happens in the mornings, after Temi has made her peppermint tea and poured himself a cup of coffee. When they ask each other how they slept, she says, it’s not just a “nicety.” It’s a genuine question meant to foster connection.
“A lot of it happens during the day in the midst of work. We'll stop and we'll hug. Or we’ll slow dance in the kitchen,” she says. “Sometimes it's hard to set a whole date night when you have 7,000 things going on. So, we must grasp these moments and check in when we can. And I think it's become so organic to us that I actually didn't even realize how often we do it. But all day long, we're like, 'Are you good? I felt like your energy shifted,' because we're best friends, we just know. We just feel it happen.”
What’s better than being in love? Building wealth while doing it. Watch Making Cents here for real stories of couples who make money moves together.
Featured image by Cj Hart @hartbreak