What You Need to Know About Business Growth

We work with people at all stages of business. Some come to us with brand new, exciting ideas for a product or service and are trying to create a new brand and a strategy to penetrate the market and stand out from the crowd. Others have been in business for decades and are doing a lot of things right, but have fallen into a pattern that could use a little jump start. Whether you are a well-established business, a startup or somewhere in between there is universal desire to grow and make your company successful.

Understanding that growth looks a little different for each industry, company and individual, but identifying some similarities and techniques to achieve growth success is what has set SDM apart. Our marketing recommendations are strategic and aimed at not only providing you with kick-ass looking materials, but a strategy and deliverables aimed towards business growth. At the end of the day your success and our success are the same thing.

So, what are we trying to grow? Is it gaining new customers? Is it upping your yearly sales numbers? Is it growing your social media or newsletter subscriber lists to get your brand in front of more eyes and going after some repeat business. Often it is a multi-faceted approach. No two companies are the same or are going to grow the same speed. That being said, we have found a few techniques that tend to be a catalyst for boost you are looking for:

Take a Step Back to Refocus and Check In

We’ve talked about this before but it is really easy to get into a pattern of going through the motions of a day, week and year and be more focused on putting out fires and satisfying the needs of whoever is barking the loudest vs. taking a step back and really focusing your time, energy and spend on the areas that make most sense for you and your business.

Taking a moment to take a step back and process what is going on, possibly with feedback from key team members is really important. The more you focus on the areas that bring you the most business and filter out those that just suck up your time and don’t yield results the better.

Focus More Efforts on Your Target Market

Why fix what isn’t broken? Consider doubling down on your “bread and butter” business, after all, it’s called that for a reason. Focus more attention and money on your proven winners to help create further successes. Going after your target demographic and core audience is smart because it is what you know is working best for you. Make sure your current ideal audience is taken care of and still happy with your brand. Engage with them and find out if there is anything you could be doing to serve them better. Learn how you can find more people like them from what they teach you. A happy customer is the most likely to tell friends and others about their experience with your brand. Some attention to this area can generate additional sales over time and more customers just like them.

Consider Additional Channels and Markets

We aren’t crazy…well maybe a little ;)… In this case we are not contradicting what we just said, but suggesting that you consider other revenue streams and channels. You can still place additional focus on your target personas and proven winners while considering if there are other areas out there worth pursuing. If you have a retail location and don’t currently have an online store that might be worth considering. Maybe you have an online store but should consider an additional channel like Amazon or Etsy (depending on your business). Some industries and business models might do well to consider the formation of a dealer and distributor network. It is more people out there pounding the pavement to promote your brand and its products/services and generate revenue. Should you consider international sales if you are currently domestic only? Don’t go too crazy and expand into markets and efforts that don’t make sense, but pause for a moment to consider any major areas where you might be missing opportunities or leaving money on the table.

Communicate Effectively and Simply

You often have seconds to communicate and engage your potential customers. Are there things you can be doing to strengthen CTAs (Calls To Action), dial in messaging or create graphics (possibly infographics) to more effectively communicate. Keep it super simple, clear and compelling. The more you can do this across all touch points of your brand the better your potential for success.

Let Your Customers Do the Talking

We hinted at this earlier, but tap into the people that are already a fan of what you do or sell. Word of mouth or credibility established by people who already have purchased your product or used your service goes a long way. If your core customer group is happy and felt like they got great service or received a great product from your company they will often be happy to provide a rating or reviewing of your company. People trust this feedback from their peer consumers and it goes a long way to validate you to your potential audience. Need help getting more reviews or feedback? Consider encouraging this behavior with offers of a discount, loyalty programs or a chance to win a prize. Often people who were satisfied with their experience will be happy to do so with a simple reminder. 

Allow Yourself to Scale Using Systems and Resources

We get it. You’re pretty awesome. You are great at what you do. That’s why you got into the business that you are in. But, you can’t do everything yourself. At some point things will grow to a level that is more than you can handle yourself. Congratulations! That is great news. You have experienced success and your business is growing to a point you can’t handle on your own. Time is your most valuable asset and something you can’t get back. Learn to value and protect your time better. Offload items that are not your strong suit to someone who can do them more effectively and efficiently. Put systems in place to automate processes that can be automated. Create repeatable business models and packages that will help your team or yourself pitch semi-standardized packages and execute them in a systematized fashion. Setting up systems like these will help you scale at a level that you won’t be able to achieve just by yourself or without doing so. You are only one person and only have so much time. 

Content, Content and More Quality Content…

We’ve said it before, but content is king. Don’t throw your money away on Google Adwords if you don't know what your doing. Take the time to create compelling and relevant content for your audience. Create new landing pages, website pages and blogs to start being recognized as a resource in your industry and to start ranking for relevant keywords that will get you discovered. Google rewards those who make an effort to consistently create quality content geared towards their consumers. Consider a podcast or video series that will engage users and reach new audiences. Is your current social and profile content sub-par? Consider investing in time or a team of individuals that can up your game in this area. Email newsletters are one of the most effective ways to retarget and encourage repeat business from those who have already expressed interest in your brand. These are just a few examples of why we are such believers in the power of quality content.

We want you to grow as much as you do! There is more than enough room out there for everyone to claim their own piece of the pie and be successful. We've learned a lot from launching and growing businesses of our own. Want to talk business growth? Contact the team at Strategy Driven Marketing today!