10 Business Growth Strategies 2.0
KSM2G Professional Services
A professional service firm established by a team of experienced, passionate, intensive and well trained professionals.
Did you read our previous newsletter on growing your business? Yes? No? Its value packed, kindly go check it out and come back to this.
Done? Awesome!
Welcome to the part 2 of our business growth strategies series; the right knowledge and disposition towards your business results to the right results.
Read on to learn more about the right strategies for business growth and productivity;
11) Making the Most of Your Existing Customer Base
Creating a strong base of repeat customers is one of the most effective ways to grow your clientele. If you can keep existing customers interested in what you have to offer, they will undoubtedly tell others about your products and services and encourage them to use them. Another great way to use your existing customer base to grow your business is to ask satisfied customers to write reviews about your offer.
12) Creating a Distinctive Brand
In today's business world, you must stand out from the crowd. There are likely to be competitors out there offering similar products and services, so it is critical that you find a way to attract those customers for whom your brand is competing. To capture the attention of potential customers, your brand and its image must be fresh and unique.
13) Foreseeing the Future
Many of the world's most successful businessmen, such as Steve Jobs, stated that staying ahead was critical to their success. If you can predict the next trends and developments in the industry and market, you can give your company the competitive advantage it requires. One stroke of genius achieved through foresight can truly put your company on the map.
14) Improving Productivity
This is probably the most obvious way to grow your business and the one that comes to mind first when thinking about business growth. However, it is important to remember that the modern business world is not one in which increased productivity equals increased profit or success. So, while you must be smart about your work, productivity is essential to any successful business.
15) Purchasing a Supplementary Business
Assume you want to broaden your product and service offerings while focusing on a specific niche. In that case, acquiring a second (or third!) additional and complementary business may be beneficial. This would allow you to broaden your product line and effectively become your supplier or retailer, reassuring clients that you are in charge of the entire manufacturing process.
16) Establishing Long-Term Business Relationships
In the business world, trusting relationships are essential. This goes without saying regarding clients, as no one will support a company they don't believe in. However, this is also true in terms of partnerships and employee relationships. People will be much more willing to help and guide you to success if they like and trust you.
领英推荐
17) International Expansion
Depending on the type of business you run, this concept may or may not be applicable to you. However, expanding internationally could be a great way to grow your business if you offer products and services that cross borders. Being restricted to a small space or area normally limits growth, so if you can overcome these types of constraints, your business will flourish.
18) Obtaining Product Licensing
If you want to expand internationally, licensing your products is critical because it allows you to enter foreign markets more easily. Furthermore, licensing products broadens your options for advertising and marketing and resolves potential conflicts with other businesses. This would also help protect your products from unauthorized imitations.
19) Webinar Hosting
People don't always have the time to travel long distances to attend conferences in today's fast-paced and rushed world. However, suppose you host online webinars to educate people about your product. In that case, you should be able to increase both your company's online profile and brand visibility from the comfort of your own office or home by engaging with a large online audience.
20) Be Open to Changing Your Strategies
When you first start your business, you may discover an initial strategy or recipe that works perfectly for you. However, things can and usually do change quickly in the modern world. Don't stick with a strategy that isn't working because you had some success with it in the past. Always re-evaluate your strategies and be willing to change them to meet your clients' needs.
Did you find this super helpful?
Share | Like | Comment |
Send us a message at?[email protected]?| Call us?+234 809 400 2124
Keep GOING.
?