Business Growth Formula for Fast Success

Here it is:

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As$fhte%2049586dfrto-djehthjka+fhjrhtyihZ= Accelerated & sustainable business growth

How often do you see the absolute rubbish that is similar to the headline of this article? Particularly in times like now when the budget has just been released and people are either worried, uncertain or unhappy.

Clearly I have completely made it up although many of the blogs, articles, books and 'experts' on leadership and business will try and sell you some fancy and complex way to amazing, fast-tracked business growth. (Snake oil).

It is not a quick solution but just to simplify things a little there are only 4 ways to grow any business!

Here they are:

What makes us different and allows us to increase:

1.???? The number of customers?

2.???? The average order value?

3.???? The average order frequency?

4.???? The retention of customers?

Additional questions:

1.???? What difference do we make to people’s lives?

2.???? What is our legacy?

NOTICE the word AND - use and thinking not or thinking.

The marketing funnel

The marketing funnel is a relatively simple concept that allows you to map the (potential) customer journey from initial brand awareness all the way to brand advocacy. This can be used for any size business.

Questions to consider when applying the funnel to your company and brand:

1.???? Are people aware of your brand? Is your logo and strapline extremely memorable? Do your values match the behaviours and the service/product you deliver? If not – why not? Are your values and your vision not really worth the paper they are printed on? What can you do differently?

2.???? What could you do to influence potential clients/customers to buy/use once? Promotions, adverts, social media, and word of mouth are all good but what can you do differently? What is different about your product?

3.???? How can you get people to try once so that they can see how good you and your products/service are? Special offers? Long-term benefits, a USP.

4.???? What follow up to you have when someone buys/uses your product once? An email or something a little more personal? How do you thank them and make them start to feel valued?

5.???? How can you create loyalty to you and your product/service? Loyalty scheme, loyalty card, extra discounts amazing after service additions free of charge. It needs to be something that is better/different than other things available in your market. If you don't know what is going on in your market place (and wider) then find out - do some competitive mapping.

6.???? How will you get people to sell you? What will make you and your brand the topic of discussion at the pub, school, dinner table, places of work? Use the power of both face-to-face word of mouth and social media.

Take some time now to consider how have the businesses listed below have answered these questions and used the marketing funnel to good effect (Feel free to add your own choices of company here)

·??????? Gymshark

·??????? Tesla

·??????? MacDonald's

·??????? Just Eat

Why not have a discussion with your team about this and share ideas?

Now it is time for you and your team/business to ask – what makes us different and how do we increase:

1.???? The number of our customers?

2.???? Our average order value?

3.???? Our average order frequency?

4.???? The retention of our customers?

Additional questions:

1.???? What difference do we make to people’s lives?

2.???? What is our legacy?

Finally start using the marketing funnel and go into more detail with you team.

Remember to use AND thinking.

Don't buy snake oil - instead start asking questions to unlock growth.

To be different you have to do something different.

Go and do it!