Small businesses must expand online offerings across platforms to boost revenue

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 30, 2021, 10:11 AM UTC

According to Deloitte, SMBs that use multiple channels record an average increase of 4.9% in annual revenue growth.

While 2021 may have brought some respite to the pandemic-induced business lull, SMBs must get creative ways to drive revenue and boost growth. For one, customers are in no rush to resume out-of-home activities. The customer apprehension means SMBs should strengthen their online presence and expand their digital service offering.

Look for ways to expand both the company’s online services and the variety of platforms offered by the benefits. Businesses must cross-sell relevant physical products with their services to ensure customers have all they need to recreate their service experience.

Using service packages, businesses can also kick-start omnichannel loyalty programmes. For instance, yoga teachers can sell yoga mats with their online yoga sessions. Similarly, SMBs can collaborate with other companies whose services complement their own.

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