11 Effective ways to grow your business

11 Effective ways to grow your business

Ultimate objective of any business is to grow and make more profits. It is impo

rtant that this growth is sustainable and not for short term. Many small business fail 

because they go on path of growth without any infrastructure hence, it is prominent 

to have a plan for long term growth.


1. Have knowledge of your customers


The prime person involved in a business is the customer and that is why it is 

importatnt to know customers. How do they perceive the product , What they like or 

dislike about the product . Ask customers to review and give feedback for the 

product . Analyse thoose feedbacks , keep up the strengths , work on critcised points 

and have a long way to go.


2. Grow Loyalty


Covid-19 has taught, importance of loyalty marketing to ensure the long-term survival 

of business. When there are endless options available while making a purchase 

decission , sparking emotional loyalty in customers is prominent for true growth, 

because now it's about more than buying the product, now customers also think about 

emotional bond with the business. If one wants to be a step ahead of competitors 

and make their business one of a kind, implementation of a tailor-made customer 

loyalty program is a must.

66% of customers say that chance of getting rewards do affect their shopping 

behaviour. For creation of loyalty, Business can use exclusive discounts and 

rewards for loyal and revisiting customers. Give them special treatment e.g. sneak 

peak of upcoming product before lauching it to general public , wishing them their 

special days with rewards or discounts.

All the online giants and chain stores use such technique to retain customers. For 

Rewarding and discounting use ways which actually create value for customers as 

just a illusion of rewarding in not going to give sustainable customers . For 

customers loyalty , rewards such as – Cash backs , Reedemable points , Gifts , 

Special Discounts work effectively.


3.Build a Network


Business is better if done with known people . Having an ecosystem is a convinient 

way for business to find potential customers and for customers to find business . 

One can grow their network by meeting more people , increasing their reach , 

meeting with potentials to get more leads. Networking also allows to get knwoledge 

about business trends and changes which can be monetised if used properly , 

ultimately resulting in business growth .


Business Network work as tool for cost cutting , exclusive supply contracts , are 

proven example of building network for business growth. It also helps in increasing 

market span as it increases business reach , making more customers to find them.


4. Be a good business and even better service provider


A business can stand out from the ocean of business if they offer great customer 

service .As customer experience is the key factor responsible for revisting customers 

. Usually business only care about sale and then forget their customers , but in order 

to make long term relations with customers it is important to care for them and care 

about their experience with the business . This makes customers feel valued and this 

value is monetised when customers promote your business word of mouth , which is 

one of the best marketing technique.


5. Host Events


Events are a kind of public relations activity which gives business chance to connect 

with potential customers , market themselves , and customers also get to know what 

it feels like to work with your business . One can establish its name in industry or 

market by hosting events as they are more likely to grab attention , increase reach 

and footfalls . For this events such as –Lucky Draw , Demonstration Events , Festive 

offers , Special discounting days , Sample distribution are most popular.


6. Keep on Updating & Upgrading


In rapid chaging world like today it is important for business to keep up pace with 

time and innovation. It is essential to read , find , listen and know about changing 

trends of market and customer’s preferences . A business may fall behind , if fails to 

cope up with changes and trends of market . For business need to be proactive and 

continue to upskill themselves with technology and required skills .


7. Have Online Presence


Onine is the new market and hence to sustain in this new market , along with online 

giants and chain stores , it is prominent for all businesses to have presence over all 

the places .

Conveineice is the utmost priority for majority customers & Covid has made it habit 

of customers to get every detail online , hence even for a local and small business it 

is important to have online presence for increasing their reach and customers .

When a customer gets all the required details of a business on internet , he is most 

likely to just visit the store and make a purchase as he already has studied the 

product and knows about the availability and price of same .

Online presence benefits customers as he gets convineice of making purchase 

decission in advance and for business it helps to increase reach and get more 

footfalls at their store.


8. Use Social Media


Today is the world of digitization and social media is the most suitable way to take 

your business to digital world .Social media marketing is the most rapid growing 

marketing technique which is proven to be effective .

Social media increases business reach exponentially as it is used by people of all 

age. It is cost effective as it is one of the cheapest mode of marketing.It has a large 

scope as it is common for all regions and hence,is suitable for taking business 

beyond it’s geographical location and resulting in growth of market size, ultimately 

resulting in growth of business.


9. Give back to society and community


A great way to grow a brand is being socially responsible & giving back to society . A 

business use and exploit resources of community and society and that is why it is 

important to give it back to society .These activities show business value of the 

brand .

Indulge in activities such as Sponsorships , donations , NGOs , hosting community 

events , Social events and work for community .

Apart from this , business can go for using renewable energy , employee benefit , 

customer benefit programs . These activities help in growing reputation , ultimately 

growing business.


10. Develop Additional streams to business


Diversification is one of the proven ways to improve and increase business . When 

the core business reaches a certain stage it is important to develop additional 

streams with new products , diffrent price and profit schemes .


Treat this new stream as expansion of business , it could be a start up , supported by 

core business as it gives broader margin for risk taking .


But make sure additional stream makes sense and has some relation to existing 

business , if not it increases risk factor in both existing and new business.


11. Measure your Approach


When using more than one approaches to market or grow business , it is important 

to analyse and measure what is working and what is not . And then invest wisely on 

things which work . It not only saves money but also gives efficient results.


It is important to keep studing the outcomes of approaches being used as by the 

time effectiveness of medium being used keeps changing . Keep tweaking and 

revising these approaches with time and build a better business.


At Fayda Shop , We help you to build meaningful relationships with your customers and get 

incremental revenues with our Crypto based Rewarding - loyalty program and marketing.

Drop down your customer acquisition cost and create value of your discounts much higher 

than its actual value.

Covid-19 has made it mandatory for business to have online presence , as 

everything is now online, but majority local business do not have such presence due 

to multiple reasons and Fayda solves this problem of local business and give them 

support to fight with competition from Online Giants & Chain stores.


Fayda drives revenues for local stores , creates their online presence of local 

business by listing , promoting and marketing their business. This helps business to 

have online presence , get increased footfall , reach , fight with competition and get 

more customers.


Grow Your Business With Us -

-List your products

-Do market and promote your business

-Get potential customers to find you

-Give rewards with 10X value to your customer

-Create Loyal and Revisiting customers for your business


Be a part of blockchain based ecosystem , list your business with us and get fayda.


To know more about Fayda, Connect with us -


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