Thinking Outside The Box For An Effective Expansion Plan

In our last blog, we suggested some ways for small business owners to successfully expand their brands into new locations. They included partnering with local influencers, hosting a pop-up shop and participating in community events. To truly make a mark in a new territory, it may be smart to think outside the box. After all, you want to make an indelible impression on the community within which you’re setting up shop, right?

Invest in a mobile billboard.

Vehicle wraps have long worked wonders in attracting the eyes of the public. Naturally, most cars, trucks and vans are one colour. That’s why vehicles that have been branded with marketing messages are so eye-catching. They always stand out. This approach is especially effective for businesses like food trucks, mobile boutiques or service-based industries. A mobile presence enables you to test different locations, gather feedback and build brand awareness on a broader scale.

“(A) vehicle wrap without a doubt, is one of the most cost-effective ways to promote a business,” insists Harjit Singh of Vinyl Wrap Toronto, “When people realize that their vehicle can be a rolling billboard, it’s quite unusual for them to go and try any other outdated marketing strategies.”

Tag team with a local business.

Who says you have to go your expansion efforts alone? Maybe your best bet is partnering up with a local business that already has made a name for itself. Can you offer a valuable proposition that creates a win-win situation for both companies? Look for businesses that complement your offerings and share your target audience. Collaborate on joint promotions, bundle products or services or host co-branded events.

“Collaborating with local small businesses allows you to tap into their customer base and gain increased visibility within the local community,” writes Tiffany Verbeck of Nav, “This situation can be a win-win for the local business owners involved. Through joint marketing efforts, shared promotions, and cross-promotion, you can reach a wider audience and increase brand recognition.”

Offer exclusive local products.

The word “exclusive” is pretty alluring. By communicating “you can only get it here” to your community, you invoke a lot of interest in consumers. It’s a good idea to conduct some research in order to understand regional preferences and trends. Your next step is to develop exclusive products or services that cater to those tastes. For example, if you are expanding in an area that is close to a body of water, you may wish to offer products that cater to lakeside living.

“Sellers on a marketplace for local products can reap numerous advantages,” says Sharetribe, “Firstly, they gain exposure to a larger customer base, as the marketplace provides a platform to reach potential buyers beyond their local area. Secondly, sellers can showcase their products to a targeted audience interested in supporting local businesses, increasing the chances of making sales.”

Are you looking for some funding to help you expand your business?

Synergy Merchants’ unique merchant cash advance program can get you the funding you need within 24 hours. It can help you to put your expansion plans into action immediately! Contact us to get a free, no obligation quote today! Call 1-877-718-2026 or email info@synergymerchants.com. You can also apply online!