We all want to grow our business. It requires a lot of work and a lot of money, but the rewards for you and your employees make it worth it. Today, many businesses look for ways to use capital to jumpstart their growth. It can be scary if you don’t know where to start, but thankfully we have the tools and resources to take full advantage of effective strategies.
Infusing your business with capital is a lot like gardening. You need to invest in rich soil, plenty of water, fertilizer, and treat your plant with extra care. Before you know it, you have a beautiful crop ready to use. It also comes with new seeds so you can plant more and multiply your investment.
Both gardening and businesses need investment. But we also don’t want to lose our ownership in the process too. That’s why companies like ClearCo provide solutions so you can scale your company and maintain 100% ownership and control. When you have an effective plan, the sky’s the limit.
Now imagine your business today. What if you got an infusion of capital. What could you do and what would your company look like from the investment? We’ve gathered some real-life scenarios that could change your business entirely.
“The greatest thing in this world is not so much where we stand as in what direction we are moving.”
– Johann Wolfgang von Goethe
Build an Optimized Website
The future continues to live on the internet. More and more people make purchasing decisions online and on their smartphones. The better your website is, the more likely you will succeed. An investment in your website can have significant ROI that could last for years.
There are many ways you could invest in your website. You can start with design. People want a simple design that’s pleasing to the eyes and sleek. A great design offers more credibility to your brand when it looks professional and in style with the market.
Invest in the UX or the user experience. You want it to be very easy to navigate. The more decisions a customer has to make, and the harder it is to find what they want, the more likely you are to lose a sale. Find out how to optimize the full experience and move visitors to make a very clear action.
Make sure your website is mobile-friendly. A big portion of your visitors will visit on their phones. If your website is only optimized for desktop and looks clunky on the phone, you risk losing sales. Choose a responsive layout and implement a great design for all experiences.
What better way to use the capital than for a direct correlation with sales? You can do that by investing in a better conversion rate. Customer conversion is how many people visit your site or reach out to you, and how many convert into a final sale.
Start with copywriting. Assuming your website is already designed well, look for a writer who is trained in motivating visitors to make a decision. It should be simple, straightforward and should move people to action.
Your text on the website should emphasize the benefits more than the features. Benefits are the bigger-than-life reasons for buying a product (the real reasons we choose them).
For example, we don’t buy a computer because we want a machine with gadgets. We want it to build friendships, a better life for ourselves through a business, or an entertainment experience so we can escape our world and explore. Emphasize these types of benefits that drive purchases.
Implement automation tools that could help increase sales. For example, consider using abandoned check-out tools. When someone is about to purchase but they leave the checkout, they are your most qualified leads. Just by sending a message, you can increase conversions by multiple percentage points.
Lastly, you can invest in methods to increase your website traffic. The more people that visit your website, the bigger pool you have to turn people into customers.
Invest in organic SEO strategies. By building your site for SEO-friendly strategies, you have a better chance at discoverability. Also, produce content through blog articles, images, videos, podcasts, and other mediums. These serve as assets and help people find you on search engines.
You can also pay to be featured when someone searches a specific keyword or phrase. This helps drive more visitors to your site.
Implement Effective Online Ad Campaigns
How do you get your name out there? Great advertising.
With more capital on hand, you can take advantage of effective ads to capture new customers and increase your revenue. Today, we are offered tons of opportunities to advertise online.
Through search engines, social media, sponsorships, and more, you have more than enough options to find what works best for you.
The first benefit is having more cash to fuel the campaign. The more you have (and the better it is optimized) the more reach and customers you can obtain. This requires a trained professional to make sure your ad spend is responsible and your acquisition cost still makes room for profit.
But once you have a successful strategy, it’s all about how long you can run the successful campaign.
Having the resources to keep your ad campaign growing also gives you the ability to make it better. By A/B testing and tweaking your ads, you can make them less expensive, more effective, and more profitable. Things as simple as changing one word or an image can make a big difference.
Online tools make it possible to test with dozens of different versions of your ads.
The right capital equips you to find the right professional to run these campaigns, design what’s needed, and help in your overall strategy. An effective ad campaign boosts your business for a strong growth trajectory.
Hire All-Star Talent
Your lid to growth depends on the leadership and talent you have. If your team isn’t equipped for growth, then you limit your potential. But to get a talented team, you need to create an environment that attracts top professionals
By limiting coupons and creating unique codes, you can test which SEO strategies are working the best for you.
More capital allows you to invest more into your employees with competitive salaries and perks. By offering fair and generous compensation, you will attract employees that want to provide value to your brand and help it grow.
When it comes to perks, you can provide the essentials but you can also add things that help improve the culture of your brand. For example, offering unlimited books for employees to encourage learning and innovation. Or something that compliments the business, like providing gym memberships to emphasize your mission for health as an organic food store. These things help shape the culture and health of your company.
More than compensation and perks, anything to invest in the culture will make a big difference. Why? If your employees are happy, they will attract similar talent. If they are leaving and your turnover is high, top talent will not come. A strong culture makes room for all-stars. And it starts with investing in your people.
You can use the capital to invest in communication tools and other resources that help make their job easier. Invest in programs that allow them to network and attend conferences or events that help them grow in their careers.
It’s exciting to think about how capital can help nurture and develop the future of your team. Use it to invest in each person. Strong teams build strong companies. And happy employees make customers happy.
Experiment & Innovate with Growth Capital
Long-lasting companies invest in the future. If not, they can get left behind. With more capital, you can experiment new ideas and see what works. One day, one of these ideas can become your most profitable feature.
Amazon is a great example of how an online store was doing great but they decided to invest in cloud technologies. Years later, their B2B business was making more revenue than their retail side of the business. This required the capital and will to experiment.
Recently, Twitter tested out a “stories” feature on their app called Fleets. They decided to retire it because it didn’t meet the expectations they had. Now, they plan on experimenting with new ideas. It’s this flexibility that makes profitable and successful businesses possible.
More capital provides the chance to innovate and add relevant features or services to your offerings.
As you’ve now seen, there are dozens of opportunities to use growth capital to launch your business trajectory. With an effective strategy, you can take full advantage of your capital.
ClearCo is more than just capital. From data-driven insights to an extensive network of partners, ClearCo adds value to all aspects of running a modern business. Today, you can reimagine the way you build your business.