Very few businesses want to expand up to a certain point and then stop. Most of them want to keep growing as long as they’re finding success within their niche. If you’re a company owner, you probably want everyone to hear about your brand before long, like McDonald’s or Coca-Cola.
You should know that ways exist to help your business grow, and many of them have a proven track record. We’ll talk about some options for company expansion right now.
Creating Video Ads
Leveraging video ads to increase brand awareness is something that many companies do these days. You can approach a professional video ad creation company that will ask you some questions about what content you want and where you’d like to feature your ads.
They might suggest some social media platforms where you can show your video ads. They may also offer ideas if you’re coming up blank on your possible ad content. If the company comes up with a notion that you feel will work for your business, you might fund the video and then use it to get your company some attention.
Video ads can get you the exposure you want for your brand. You can make these ads part of a larger marketing campaign, and hopefully, you’ll see increased sales numbers as a result.
Expand Into the National Spotlight
You might decide that you’ve found local success, and now, you’re ready for the whole country to know about your company, products, and services. You may find market penetration on the local level, starting with your city, and now, you’re a recognized entity all over the state. Going national will pose a much bigger challenge, but you can do it if you have the budget and infrastructure in place to give it a shot.
You can get a loan from a bank or credit union and then use that to open new brick-and-mortar store locations in neighboring states. You might also open in select markets across the nation that you think will respond well to your brand and what you bring to the table.
You will probably need to mass-produce your products. That could mean automating the creation process if you haven’t done so yet.
You will need to look into shipping methods as well. Does it make more sense to transport your products by truck, plane, or both? Will you feature your products in your own stores, or might other stores potentially carry them?
You might want to consider franchising. If you’ve got a proven business model, you can allow franchising opportunities for anyone interested. That’s often an underrated expansion plan that benefits companies.
You might also expand internationally if you’ve conquered the American market. Maybe the whole country knows about you now, and you feel ready to dominate the globe. It’s always possible if you have a product or service that’s popular enough that it will translate to another culture.
Think about all the international brands that started out as exclusively American. You can get KFC in Tokyo now or Starbucks in Italy.
Like national expansion, international growth isn’t easy, but it’s often possible if you have the right connections and budget. You’ll probably need international partners representing the country toward which you’re making overtures. You will need ships or planes ready to carry your products.
You will also need to think about international marketing strategies. You’ll probably need to hire marketing consultants from the country into which you’re going to expand. If they can come up with a brilliant marketing campaign, and you find a customer base in a new country, you might find the success for which you’re looking.
You Can Do an IPO
Taking a company public can provide a fresh cash infusion, and you can use that to fuel your company’s expansion. When you take a business public by offering an IPO, that means traders can buy stock in your company on the New York Stock Exchange. That’s a visibility level you probably never had before.
An IPO might intimidate some company heads, but that’s the holy grail for others. They want to get to that point because all the top executives can get rich, but also, it means you made it.
You’ve achieved company notoriety that’s not necessarily permanent, but it’s much more established than merely finding a little mainstream success. As a publicly-traded company, the whole world knows about you, and that’s an accomplishment that not many companies achieve.
With a successful IPO can come expansion on a scale you’ve probably only dreamed about in the past. It’s always a little risky, but you’re more than likely building toward it if you’re ambitious.
Improve Your Company’s Website
You might not necessarily tie your company’s website to business expansion, but a connection frequently exists. Think of it this way. You can take steps to improve the overall website experience.
Those actions might include adding keywords and phrases for better SEO. You might add some new videos and pictures, or you can always add a company blog to talk about your niche if you think that will get you additional engagement.
If you get more people interested in visiting your site and spending more time there, they’re more likely to convert. In marketing parlance, that means they’ll buy your products or use your services. Your site can get you more sales and more money. That’s a viable expansion model, any way you want to look at it.
You can get an SEO company or your own experts to look at your website to come up with ways to modify it that your customers will like. You’re looking for better UX, or user experience. When you do a site audit, that’s the first step toward getting more sales.
If you take all or some of the actions we mentioned, you’ll likely find the company success you’ve wanted. You’ll dominate your niche and earn the recognition and sales that will solidify your market share.