The Essential Business Guide for Local Growth

Introduction

Local Business Success We’ve gathered the latest insights and examples of local business success to help guide your regional strategy in 2022.

Throughout the past 10 years, consumers have been switching their spending habits to online tech. Many businesses created online revenue streams to get ahead. However, local is still out-performing online.

In 2021, Americans spent 18 percent more on food, cars, furniture, electronics and other retail products. While online retail sales increased by 14 percent (Forbes 2021). In 2022, brick and motar spending is predicted to reach $702.17 billion versus e-commerce’s $603.68 billion (eMarketer 2022).

$702b

$603b

The takeaway is that there’s more room for local business. And with the predicted spending for brick and mortar stores, there’s a reason why businesses should continue to invest in their local customers.

We hope the marketing trends and inspirational examples we list throughout this ebook will help grow your local business for long lasting success.

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Principle 3

Network in Your Surroundings When in doubt, talk to other professionals. There are people all around you who can be the resource you need to set yourself ahead. A good place to start is with your local Chamber of Commerce.

Or you can go with another resource such as finding a mentor on SCORE. Regardless of what you choose, getting to know other people in your area will open up opportunities that didn’t exist previously.

Get To Know Your Local Crowd Here’s a secret that most people don’t talk about: you have to get involved with your local community. The more people see you, the more likely they are to trust your product and service.

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Principle 6

Promotions, Discounts, and Deals

More than 93% of consumers use a coupon or discount code throughout the year. That means the majority of shoppers are always looking out for a great deal.

But it doesn’t stop there. If you offer a bonus pack, you can sell up to 73% more products versus regular pricing. How crazy is that!

The more you offer promotions, discounts, and deals, the higher likelihood that people will buy your product or service with a smile on their face. By running promos, you not only attract the local crowd, but you bring in previous customers.

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Principle 7

Focus On Your Bread and Butter Too often, companies focus on things that don’t matter. They’ll create new strategies, focus on new ways to sell their good or service, and it’ll end up worse than they had hoped. The truth is, you shouldn’t break what isn’t broken.

That means finding your most lucrative strategy that can grow organically.

Whether it’s word of mouth, local advertising, or getting involved in the community; you should find out where your clients are coming from and continue to invest in that method of lead generation. More likely than not, you’ll see more people are buying your products or service because of a specific reason.

A simple way to look at this principle: whatever's making you the most money, put more money into it.

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