After living one of the most convulsed years due to the COVID pandemic that affected the world, 2021 is seen as a year of many changes, but at the same time of many opportunities. Companies of all types, sectors, and sizes were highly impacted by the effects of the pandemic during 2020. Those that had prepared in advance regarding the use of new technologies and that managed to adapt to the changing context were greatly benefited and they were able not only to maintain themselves despite the crisis but to grow exponentially.
2021 seems to be an ideal year to start new businesses or expand one that has already started. Finding market niches and adapting them to the famous "new normal" with the changes in consumer habits that it has brought, has never been so important. Therefore, we are going to give you some tips for your company to be successful and grow during the year 2021.
If you are wondering how to grow a business, then the importance of finances must be considered first. In this sense, one of the main reasons: why a company fails to overcome the first years of life; it's because of the limited access to financing. It is essential to carefully evaluate the different credit options and the ability to pay to take advantage - with consistency and low risks - of the opportunities to receive "fresh" capital that is necessary to facilitate improvements and promote expansion projects.
On the other hand, it is only advisable to go to formal institutions —such as banks or government agencies that allow the business to receive financing safety with legal support.
See what your competitors are doing. Find out how they are reaching customers and winning them over today, and if you can get any ideas on what they can do tomorrow. Observing, exploring, and allowing yourself to learn does not mean imitating: it just means that your company is discovering what works best for you without following ready-made formulas, and using other businesses - and experiences as a research fund.
Rethink how to use your marketing budget. In-person events, such as lectures, business fairs or conferences, in which it is possible to interact with potential customers, have been suspended because of the pandemic. Probably the situation will not be completely normalized by the beginning of 2021, so thinking about alternatives is providential.
Don't hesitate to ask customers to leave a review on your Facebook page or share your latest Instagram post for a chance to receive a free reward. If customers leave a comment or send you a question on your social pages, respond quickly and politely.
Today, a large part of organized and duly constituted SMEs practice electronic commerce, but few take full advantage of this form of consumption, which in Chile grew by 150% during the most acute months of the pandemic. To take your e-commerce strategy to the next level to boost your sales and profitability, we recommend the following key tips such as:
Now, that you have to know how to grow a business in 2021 amid the whirlwind of constant innovation and digital transformation: in conclusion, we can say that focusing on the customer and migrating to an increasingly digital operation are the essential objectives for a company can expand efficiently and sustainably.