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If you have successfully started your own business the frugal way, you have already lived an exciting and challenging experience. However, now that your company is up and running, it is essential for you to start looking into growing your business. After all, establishing a stable customer base and increasing your store’s footfall is one of the main challenges for all business owners. Nonetheless, no matter your budget, there are some tested strategies that allow you to develop your small project into a successful business. Start with the tips below! 

Find Alternative Ways To Market Your Services

Marketing represents a necessary service for many small companies to invest in. In fact, without print and digital marketing, it can be difficult for potential consumers to discover your young business. However, an efficient marketing campaign can be extremely costly and might not yield the ROI you were expecting. Therefore, you should consider setting a sustainable budget for your official marketing campaign and pair this with alternative ways to market your business – such as the ones below!

Create Meaningful Relationships

Creating meaningful relationships between your business and your customers has never been so important. In fact, many small businesses struggle to overcome the competition in an increasingly crowded market. Nonetheless, you can ensure your customer loyalty by providing services that are customised and personal. 

There are many ways to build these relationships, but make sure you keep your conversation channels open! For example, consider speaking to your audience through social media!

Get Involved With the Community

No business – no matter how big or small it is – is an island. So, whether you consider the businesses around you as competitors, partners, or allies, make sure to get involved with the local community. In fact, through community involvement, a business can create a valuable relationship with the local market and partner with surrounding stores and businesses to offer an even better service to the community. For example, in this post-covid era, you might consider launching charitable or volunteering initiatives to help those around you – and create the right reputation for yourself and your business.

Outsource

Outsourcing some of your services can help your business remain flexible, versatile, and scalable – while on a budget. Some of the most important services to outsource include:

• IT and cybersecurity
• Accountancy and tax filing
• Marketing and advertising
• Sales
• Customer care
• Shipping, delivery, and logistics

Opting to outsource these services means that you can leverage the expertise and experience of a dedicated team, at a fraction of the price involved with hiring in-house employees. 

Invest in the Right Tech

Today, businesses are more reliant than ever on technology. Because of this, you need to ensure that you are not skimping on the right pieces of tech that allow you to create a modern and efficient company. 

For example, you should try this merchant service provider and offer your consumers the option of a faster checkout process. Alternatively, you should consider interactive stations, a website, and the cybersecurity measures you need to ensure that your stakeholders’ data is secure at all times.