Whether you own a company that you see potential for growth in or simply manage one, growth is what business is all about. As the old saying goes, if you aren’t growing then you are dying and that is true for both life and business.
But what can you do that will help you to find new customers, create new awareness and grow to the next logical step? We have a few ideas that may get you started on your path to bigger business and success.
Learn About Sales Funnels
This is one tool that every smart sales manager knows and uses. If you have never learned how to use this all-important tool there are plenty of books around that will walk you through the process.
They will help your business to grow by automating the sales process and building a new engineered sales tool around that process. This is probably the most important tool you can use initially to grow that business.
Upscale Your Software
If you plan to increase your team and through that grow your business, you will need a dynamic software program that will grow along with you. A good example of this is how the Microsoft Dynamics AX migration system grows along with your needs. Not sure if you have the right system that will grow with your business?
There is probably a business networking group in your area that can help to guide you on what has worked, and not, for a variety of companies. If you plan to move from a manual system for tracking customers to an automatic one, this is a good time to also up the ante with all your integrated systems.
Know Your Competition
Don’t say that you are unique and don’t have a competitor, because you know you do. But how much do you know about them? Take the time to do the research and dig deep for market intelligence on anyone you think is already where you want to be in a year or two.
Look at their online advertising strategy, the ideas behind their landing pages and what their sales funnel looks like. Learn from their mistakes, grow from their weaknesses. When you truly know and understand the competition you can become the competition they learn to look up to and fear.
Customer Loyalty Programs
While there is plenty of debate about the worth of many of these programs, customer loyalty programs can be a goldmine if used correctly. We know that it can cost you three times the amount of money to attract a new customer as it does to simply sell a new product to an already loyal one.
So, rewarding customers for being loyal is actually cheaper than going out and getting new ones. There are plenty of businesses out there that can actually work with you to craft a loyalty program that is perfect for your industry and customer profile. Well worth the investment if you plan on growing now.
As you can see, from growing the structure of your business to growing your sales and customer base, growth can come from many different directions. All of these tools need to be in place if you plan to not only be around in ten years, but bigger and better than ever.