There’s a lot of value in having a side business that you run alongside your regular job. It’s a great way to add extra funds to your bank account and to put your creative and entrepreneurial spirit to good use. Alas, there are some challenges. Without the resources or time that larger businesses have, it can be difficult to develop and grow. It is not, however, impossible. When time is at a premium, you can’t incorporate all the growth tactics into your operations. Instead, you should focus on the smart tactics, the ones that are most effective. We’ll take a look at some of these below.
When you’re trying to grow a business, it’s important to get the word out as far and wide as you can. One of the best ways to do this is to look at hosting events in your local area. This is cost-effective, can build revenue, and brings awareness about your business to the wider public. The type of event you hold will depend on the type of business you’re running. They don’t have to be standalone events that you host yourself, either; if there’s a local market, for example, then you can join that.
It’s difficult to bring onboard new customers no matter how much time and resources you have. When those are limited, it’s even more difficult. The key is to find ways to get your business in front of new faces in a cost-effective way. While you’ll be unlikely to spend money on, say, street advertising, you can make the most of cost-effective options, such as social media advertising. This is beneficial as you’ll be able to target people who are already predisposed to enjoy whatever it is that you’re offering.
While it’s always useful to target new customers, that doesn’t mean that you should ignore your existing customers. After all, you already know that they’re interested in buying from you! You’ll need to find ways to target your previous customers in a direct way; they won’t be influenced by general marketing tactics in the same way that new customers will. Direct mail marketing is a handy way to get them thinking about your business once more, so learn more about what that process involves and get started. Well-time emails straight to their inbox, ideally with promotions or discounts, can also be effective.
Establish Your Expertise
The problem with running a side business is that you’re going to be small by most other standards, and that means that you won’t automatically receive the level of trust that larger companies get. As such, it’s a good idea to look at establishing your expertise so that the public understands that you know what you’re talking about. You can do this in various ways, but having informative and useful blogs on your website, sharing quality content on your social media channels, and hosting talks/podcasts about your chosen topic are especially recommended ways. You’ll be considered an expert in no time!