Every day, Endeavor sees plenty of entrepreneurs walk through its doors. And regardless of the industry, we know that many have one thing on their mind: growth. Whether that means expanding their marketing audience, adding more team members to their organization or finding investors for your next big idea, it’s all about moving onward and upward.
How Can I Expand My Business in 2023?
There’s no silver bullet to finding success, and often, you have to pull several “marketing levers” before you find what works best for your business. So, if you’re looking for new ideas, here are five unique ways for entrepreneurs to expand their business this year:
1. Host In-Person Workshops
Hosting events and workshops can be a great way to attract new clients and promote your business. By creating valuable content and offering it for free, you can establish yourself as a leader in your industry and build brand awareness. And thanks to Endeavor’s event spaces, you have a great location for meetings and workshops right downtown.
To host a successful experience, curate topics, speakers and panels that are relevant to your target audience—and package them in a networking-friendly environment. To maximize attendance, promote your events via social media and email marketing and collect contact information to follow up with attendees.
2. Develop a Co-Marketing Partnership
A co-marketing program is a partnership between two businesses with a shared target audience. By collaborating with a complementary company, you can cross-promote each other’s products or services and reach new customers.
To start, you’ll want to find a partner that shares your brand values and target audience to create a successful co-marketing program. Sometimes, this effort requires a little extra networking, especially if you are a small to midsize business looking for like-minded organizations. But once you do find that partnership, brainstorm ways to offer exclusive deals or promotions to each other’s customers, and use your digital channels to promote the collaboration.
3. Tap Into User-Generated Content
User-generated content (UGC) is content your customers create, like reviews, testimonials, and social media posts. By leveraging UGC as a marketing resource, you can build social proof and establish trust with potential customers.
To encourage UGC, offer incentives for customers who leave reviews or share their experiences on social media. Then, you can use that UGC in your marketing materials and website (as long as you have their permission).
4. Offer Freemium Services
Yes, that’s actually a word now, and offering freemium services is a powerful way to get customers to engage with your product (without the stress of sharing their credit card details just yet). By offering a free basic version of your product or service, you can build trust and encourage potential customers to upgrade to a paid version.
To offer freemium services, create a landing page highlighting the benefits of your product or service and provide a free trial or basic version in exchange for contact information. Follow up with potential customers after the trial period to convert them into paying customers.
5. Create an Online Course or Short-Video Series
Online courses can establish your organization as an industry-leading organization and build brand awareness with new audiences. Your knowledge and expertise can act as a bridge to more conversations with your target audience. Short videos can also help in a more informal way – which may be a more comfortable way for you to get started, while allowing new customers to find you on social media.
If you decide to create an online course, keep in mind that these are best suited for hyper-specific or niche topics. If your insights are easy to find on Google, your offer may not be compelling to consumers. Find a way to turn your unique perspective into a digestible online program—and use audience insights to target individuals who may be interested in what you have to say.
Expanding Your Business with Endeavor
No matter how you expand your business this year, Endeavor is here to help. Working alongside a range of other professionals is essentially an all-day networking opportunity – including people who can end up supporting your journey in many ways.
By hosting events and workshops, offering a co-marketing program, leveraging user-generated content, offering freemium services, and creating online content, you can make 2023 the year you hit your goals. To learn more about any of our memberships or the services we offer in our coworking space, reach out to our team today.