Joe Jedlowski has owned multiple businesses over his esteemed career. Not only has he owned them, but he’s built them from the ground up. So he knows what it’s like to be a new business owner trying to grow a business and make it thrive.
That’s why I was so excited when he agreed to share some business tips with me so that I could share them with you. In this article, I’m going to go over some of the best tips for new business owners.
A lot of these tips will be useful even for experienced owners. After all, there’s no such thing as learning too much, especially when you’re learning from Joe Jedlowski. All right, let’s get down to the tips.
Figure out your Audience
The first thing that Joe Jedlowski recommends is narrowing down your target audience. In the past, marketing companies would target anyone who would listen.
But research and technology have shown that it is much more effective to target specific groups of people. You can find your target audience through research and analytics.
Once you’ve figured out your target audience, it is much easier to plan and execute an effective marketing strategy.
Marketing Matters (A lot!)
Marketing is one of the most important aspects of any growing business. Even if your product and business model are fantastic, a great marketing strategy will differ between success and failure.
Joe Jedlowski recommends being on every social media platform, researching your audience on each platform, and dedicating time to engaging with your audience. That’s just the beginning. Your marketing will make or break your business, so it’s important to invest in it.
If you are just beginning in your journey or even if you’re already an experienced entrepreneur, listening to business podcasts is one way to keep up with the modern era.
Create a Sales Funnel
A sales funnel is your customer’s route from discovering your business to buying your product. It is one of the most popular tools of modern businesses, so if you’re building a business, you’re going to want to create one.
Joe Jedlowski says there’s no reason to start from the ground up; there are many templates and tools online that will help you create an effective sales funnel. It’s important to spend the time making a quality, effective one.
Test Everything
How can you know whether or not your sales funnel and marketing are working? Well, you test them! It is relatively easy to implement detailed analytics into every website and business, and once you do, it makes it fairly easy to know whether something is working or not.
A/B testing is one of the most popular testing methods. A/B testing is the practice of creating two versions of something, whether it’s a sales funnel or a Call to Action, then sending customers randomly to one or the other and monitoring which works better.
Technology makes it rather easy to implement A/B testing in just about any change or feature you need.
Work on Customer Retention
It costs much more to generate new customers than it does to keep old customers, which is why experts like Joe Jedlowski highly recommend spending time and money to retain customers. Whether it is an email list or a customer loyalty program, you’re going to need to give your customers a reason to stick with you over the competition.
Even if you have no competition at the moment, having a loyalty program in place will help you retain customers if a new competitor were to spring up.