Most entrepreneurs who start their business don’t have an additional income to grow their business online. You may be working your day job, or you may have a lot of expenses and family responsibilities that don’t give you the flexibility to invest in your business.
In this blog post, we’re going to share how to grow a business in 2021, and the best part: most of these strategies don’t need any starting investment! All you need is time to offer more value to your target audience. Let’s dive right in:
1. Vlogging / Blogging
To learn how to grow a business online, you need more visibility. If you like writing, starting a blog or contributing as a guest blogger is a great strategy to leverage the vast readership in your niche. For example, if you have a retail business, you can write a blog about “10 exciting ideas for your retail business that work in 2021”.
And if you love facing the camera, try vlogging! For instance, you can start a YouTube channel and post videos consistently linking back to your products or service to drive sales.
2. Freelancing Sites
Some may advise against testing out freelancing sites to find more clients because of “too much competition” or “low-balling clients”, but the truth is you can make seriously good money if you’re correctly pricing your high-quality service.
There are a plethora of clients to be found on freelancing sites that are willing to pay premium dollars for a high quality product from a verified provider. This is a great option for copywriters, health coaches, business coaches, consultants, and more. So, don’t hold back from trying new growth platforms based on someone else’s less-than-fruitful experiences.
3. Content Marketing
When it comes to growing your business online in 2021, don’t be afraid to dive deep into content marketing. You want to establish yourself as an authority figure in your industry, which can be achieved by experimenting with different content types.
This includes podcasts, blog posts, case studies, webinars, videos, infographics, and the list goes on. An effective content marketing strategy can help you reach a wider audience and doesn’t require much in terms of start-up costs if you’re willing to invest time and a little elbow grease!
4. Social Media
Choose the right social media platform to find clients and grow your online business. Make sure to leverage the channels where your target audience is most active. For example, most B2B companies like to leverage LinkedIn for lead generation and brand promotion. B2C retail companies on the other hand, may find more success on TikTok and Instagram.
The key to effective social marketing is consistency – regularly post high quality posts that will appeal to your target consumer, and your network will grow in time.
When you start earning more money, you can invest money that into paid strategies like ads. It’s a quick way to drive impressions/clicks to your website and grow your business online if you have the resources. Start advertising on Google’s search results, Facebook, and other online ad spaces.
Before that, make sure you have a proper sales funnel ready to manage all the leads generated through your paid ads.
Frequently Asked Questions
Listed below are popular FAQs about growing a business online:
Should I develop a business plan to start my new business?
Every business, regardless of the niche, should have a plan. One of the biggest benefits to creating a business plan is preparing for any obstacles that may come your way. Even if you don’t want to develop a business school-style plan, you can always start the ball rolling with a short roadmap document that charts your key steps.
If you already have a business plan, well done! But it’s important to keep reviewing this plan periodically as your business targets and cash flow changes. Before diving into any of the strategies in this post, make sure your business plan is as up to date as possible.
Is it possible to start an online business with zero investment?
Technically, yes. But you would still need minor startup costs for a website builder (generally under $30 a month), a domain name (below $10), and content creation. If you have the expertise to handle these three aspects yourself, you won’t be needing too much money, as long as you have the necessary infrastructure (laptop, internet connection, etc.).
What can I sell online?
The world wide web is a vast and dynamic marketplace! You can sell practically anything if there’s a demand for that product or service. It’s a good idea to evaluate the target market size and possible profit margins before embarking on your mission.
How long does it take to grow an online business?
Even though it’s not impossible to hit the jackpot in just 6 months, growing a business requires consistent efforts, and it may take 2-3 years before you start making profits. If you have questions about accessing the funds you need to start or grow your online business, reach out to a Small Business Advisor today.
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