It takes time for a business to grow. Many businesses lose more money than gain money during their first year, which sets them back. If a business doesn’t have a following, it could cause them to lose money for two years in a row. Coming back from that is difficult. If your business is struggling beyond this point or struggling to bounce back from a hard first year, it may be time to try marketing insight.
According to Renolon, over half of businesses use Google Analytics. The program designed by Google’s analytics team helps businesses track how many visitors come to a website and where they come from. If your social media business account has a link in its description, Google Analytics will inform you if a client used that link or found the website another way. That knowledge can help businesses understand their target audience and the best tactics to attract more customers. If you’re not using software like this, consider consulting with a marketing or analytics agency to start your Google Analytics journey.
While most businesses experience a loss in the first year or two, they should start growing after that. If you don’t see increases in customers or returning customers after the second year, this is a sign you need to take the next step. In this case, it is to seek marketing insight from professionals in the industry. They can look at your marketing efforts and tell you where to improve to help your business grow.
Lack of Experience in Marketing
Some people have a knack for marketing. Others would rather spend time covering the financial aspect of businesses. However, it’s important to understand that just because you don’t want to bother with something like Google Analytics doesn’t mean it’s not important. If you’re not the best at marketing or don’t want to deal with it, it’s time to outsource it to someone with experience.
Marketing is the bread and butter of every business. Working with an analytics agency or a marketing consultant can help grow your business in the right direction. Take the first step to help your business grow by contacting Final Approach Consulting today! We can discuss your business and concerns and help you reach your goals.