7 Practical and Effective Strategies to Expand Your Business

Do you feel you've plateaued in your sales and business growth? Here are some strategies to expand your business. Which one will you use?

1. Customer retention and loyalty

Did you know that 80% of your future profits could come from just 20% of your existing customers?

To expand your business, you can look to the business you already have. It is common to take those valuable relationships you have with your best customers for granted. Putting in place recognition systems that celebrate and support these relationships, along with being open to constructive feedback, will help you grow your business.

You can brainstorm new ways to connect with your current customers by reading our retention strategies blog.

2. Review your pricing

When was the last time you checked in on your competitor's prices? If your answer is way back when you made your business plan, you may want to do some new research!

The business environment is constantly changing: inflation, new competitors entering the market, changes in customer spending habits, etc. If you haven't adjusted your price in response to market changes, you may not be generating the revenue you need to expand. Pricing strategies need to be regularly measured and revised to ensure that they are generating the most value for your business.

Read the rest of this article on www.systemsbusinesscoach.com