Are you wondering why your business’ growth is slow right now? Here are four reasons why the your business might be slowing down, plus some tips that you can use to overcome it.
Lack Of Technology
Businesses rely on technology more than ever, and it’s essential for success. By not having the right technology for your business, it can actually slow and hinder growth. For instance, if you leverage CRM and ERP software, you could be holding your business back by not integrating the two systems. Without data being connected between the two, your teams will waste valuable time keeping the two databases synchronized manually, which results in slower operations and an increased risk of database errors. But with a data integration solution like Commercient SYNC, you can see your ERP data in your CRM, and stay up-to-date with the changes made to your sales and accounting systems, simultaneously.
Inactive Social Media Channels
Inactive social media accounts could also be holding your business back. If you’re running a small business, keeping your online presence up-to-date should be a top priority. Having an inactive social media account may send a message to your customers that you’ve gone out of business, or you’re not interested in engaging with your clientele. The bottom line is that social media increases your chances of being found online, so if you’re accounts are inactive, you’re keeping your business from growing.
Not Asking For Referrals
Referrals are one of the top ways to grow your business. If you’re not asking for any referrals at all, you could be holding your business back from getting new clients. Positive word-of-mouth goes a long way, and the more referrals you ask for, the more you will get.
At Commercient, we love referrals so much that we have a Valued Referral Partner Program that allows you to submit valid leads, and earn money for every closed lead. We’re also on the AppExchange. So, if you know someone who would benefit from using our SYNC app, you can sign up for our Valued Referral Partner Program. You won’t be tied to a contract, and there’s no formal commitment required.
Failure To Innovate
It is especially important for small businesses to innovate and be open to new ideas. There are numerous methods available, including social media channels that enable you to listen to your customers, which can reveal fresh ideas for your business. According to Fortune 100 company consultant and author Maria Ferrante-Schepis in an interview with BusinessNewsDaily, “You can’t innovate from inside the jar, and if you aren’t innovating, you’re just waiting for the expiration date on your business.” Your competitors are keeping an eye out for trends, and so should you.
At Commercient, we are always innovating. Check out IoT Pulse, our recent addition. It allows you to connect your ERP system to the Internet and over 815 apps, and can help you grow your business.