Entrepreneur
It only takes one viral moment for a small business to see its brand skyrocket into the global spotlight. Whether it’s a TikTok video, a trending hashtag or a product spotlight in a renowned publication, going viral is both an exciting and challenging experience.
But the reality is that businesses can face similarly rapid reputation growth without a viral moment, whether by word-of-mouth customer recommendations or a changing competitive landscape. So how do you make sure you’re set up for success, no matter how your business takes off? And how can you, as a small business owner, navigate these changes without overwhelming yourself or your team’s capacity?
Here are some strategies that can help you navigate expedited growth as a small business and create a foundation for long-term success.
Related: Want To Go Viral? Create Something That Evokes This Feeling
1. Prepare a resilient AI-powered operation
When you strike gold with a viral moment for your business, your operations are put to the test. It’s important to set up systems and processes that are scalable from the get-go so that you know your business could handle a sudden increase in engagement.
There are a number of ways to do this — one of the most efficient for SMBs with low employee capacity is taking advantage of dedicated AI tools. For example, services like Zoho Inventory can predict demand fluctuations by analyzing sales patterns, freeing up small business owners the time to track and manage their stock levels, orders and suppliers.
A robust supply chain is also crucial to handle spikes in demand. Look for providers that can optimize supply chain management and predict potential bottlenecks, or offer alternative suppliers to accommodate higher volumes. Even with the help of these digital tools, it’s still important to familiarize yourself with customs regulations in key markets. These can impact the cost and speed of importing goods across borders, so it’s worth taking the time to identify the most cost-effective and efficient methods of distribution for each market, if they differ.
By setting up scalable operations and a resilient supply chain from the get-go, you reduce the risk of being unable to cope in moments of heightened demand. Prepare for success!
2. Leverage dedicated financial tools to manage international payments
Efficiently managing payments is critical for scaling your business, especially when you expand internationally. Whether it’s paying additional overseas remote contractors and vendors or receiving payments from abroad, cross-border transactions are often slow and costly, which can disrupt operations for small businesses. To mitigate this, you can use financial tools specifically designed to support managing money in multiple countries. For example, an option like Wise Business enables you to receive payments quickly in over 20 local currencies, charge customers in their preferred currency, and save on currency conversion fees.
If your business has the potential to attract customers living abroad, setting up your business with these financial solutions early on ensures you’re ready to service international customers, however they find you.
3. Localize your marketing efforts
Reaching international markets requires a thoughtful approach to marketing. Start by localizing your website, social media channels and customer support to reflect the languages and cultural nuances of your target regions. Even without a viral moment, tailoring your marketing for local audiences helps build stronger, long-term relationships with diverse populations.
If you do go viral in a specific market or see a particular surge in growth from one region, localization becomes even more important. For example, if your product gains traction in Japan, consider creating bespoke advertisements relevant for the market and perhaps offering Japanese-speaking customer service. This attention to detail not only sustains growth but also sets you apart as a brand that values its global customers.
Related: After Going Viral, a Reporter Misrepresented Me in an Article. Here’s What I Learned.
4. Prioritize customer experience
Growth — whether it happens suddenly or over time — inevitably means catering to a larger customer base, and makes it more difficult to stay apprised of your customers’ needs and expectations. Manually staying on top of customer feedback during moments of accelerated growth might involve tracking and responding to comments across multiple social and review channels. But even if you do this and become aware of changing customer sentiment, the time spent tracking comments may take away from time you could spend solving their issues.
For small businesses with limited capacity, leveraging tools to help monitor customer experience can be a game changer. One example is Lexalytics, which can analyze customer feedback on social media or review platforms, enabling businesses to instantly gauge sentiment and identify areas of concern. This helps to quickly address negative feedback or capitalize on positive buzz — without spending hours sifting through comments individually.
Accelerated or rapid growth is exciting, but it can also present challenges if your business isn’t ready. By preparing ahead of time, you ensure your operations, finances and marketing can handle increased demand effectively. By preempting potential gaps in your operations and taking advantage of tools to help you fill them, your business can not only capitalize on a viral moment but also set the stage for sustained success in a competitive marketplace.
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