New Year, New Growth: 3 Smart Ways to Grow Your Business

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Photo by Adeolu Eletu on Unsplash

Firstly, we’d like to commend our business clients who have overcome the numerous obstacles that 2020 has presented. If your business survived 2020, then it can survive anything! With that said, we want to help you make sure your business more than survives 2021 – we want to see our commercial insurance clients thrive, which is why we’ve compiled a few smart ways to grow your business this new year and rise ahead of your competition.

1.Optimise Your Website

Firstly, if you don’t have a website, stop right here and focus on getting one! Having a website, however, doesn’t automatically guarantee that new customers or clients will find your business. This is where search engine optimisation (SEO) comes in. While contracting SEO specialists to optimse your website may present an initial cost, it can really add value in terms of business growth. These specialists can audit your site and see which areas are stopping your website from ranking well on the search results page. Factors such as site speed and the way you word your copy can either help or hinder your chances of being found by the right visitors. These specialists can help speed up your site and add in the best search terms to your copy to help get you more business leads.

2.Profit Analysis

It’s likely that you have a good idea of your expenses as well as what is bringing you the most profit. But creating a clearer picture of this through the use of graphs or pie charts can give you valuable information that you can use to grow your business. From this, you can identify which areas you can cut down on spending and which income streams are most effective. Analysing these income steams can help you find your ‘low hanging fruit’, in other words, what will bring you the highest reward for the least amount of effort or time. Focusing on this will help you make more rapid gains in profit.

3.Focus on Existing Customers or Clients

Firstly, your existing customers or clients are the ones who are most likely to buy from you again or use any add-on services, so it’s important to not focus too much effort on new leads at the expense of neglecting your existing customer/client base.

Secondly, if you provide your best possible service to these customers/clients, then a lot of your marketing will be done for you via word of mouth. As much as 75% of your returning customers/loyal clients are likely to refer your business to their social network of friends and family!

We hope you’ve found these 3 smart ways to grow your business helpful and that you safeguard this growth with the appropriate commercial cover. If you’d like to receive more business or insurance tips, then please subscribe to our newsletter. Simply scroll down to the bottom of this page and enter your email address and name.