TOP 5 STRATEGIES ANYONE CAN USE TO GROW THEIR BUSINESS IN 2024
Easy to implement principles for business growth
Starting a business is easy; ruining it is even easier.
If you've just started your own business, you've probably realized that it's nothing compared to what you see on TV and social media. It’s tough, uncomfortable and full of surprises. Without the right strategies in place to help it grow, your business is likely to flop.
Today I’m going to share with you five core strategies any business owner can use to boost their business growth. These strategies double as principles so anyone can use them regardless of what industry they operate in.
The most important thing for you to remember is: customer focus.
Let’s get started.
1. Have a Strong Product
It doesn’t matter how great your brand is, if your product is terrible, customers won’t buy from you twice. And without recurring sales there is no business growth.
So how do you define a “strong” product?
Your product is strong if it is in high demand and solves the problems of your ideal customers. This is what constitutes a strong product.
And the best way to create a strong product is to ask your customers for feedback.
Customer feedback shows you where your product is lacking, and by improving on it, you create happy customers and expand your business. Because most businesses fail to listen to their customers, doing it for your business will give you an edge over your competitors.
2. Expert Positioning
So you’ve created a strong product, the next thing you need to do is position yourself in the places your ideal customers will see you. You can’t have sales if people don’t know that your business exists.
And when I said expert positioning, I meant it quite literally. You need to position your brand as an expert: someone who thoroughly understands their customer’s pain and knows how to solve them.
This is where content marketing comes in: by consistently uploading helpful videos, blogs or articles that provide value to your customers, they begin to think of you as the expert to go to when they want to solve specific problems your brand/product can solve.
3. Give Your Customers a Great Experience
Positive customer experience exponentially increases your customer’s lifetime value.
Many businesses mistakenly believe that having the best product means they can overlook how they treat their customers. They’re wrong.
The principle for this is simple: people buy from people. And people only buy from people they know, like (or respect) and trust.
Providing excellent customer service is a great way to get your customers to like and/or respect you.
While the specific methods vary depending on your business, the foundation remains the same: treat customers with respect, be polite, show empathy, and go above and beyond to solve their problems.
When you combine all of these with a strong product, your business is bound for tremendous growth as you retain existing customers and attract new ones.
4. Ask for Referrals
The best and most viral form of marketing will always remain ‘word of mouth marketing.’
People buy from people. So when Betty tells her friend she got the best coffee from the new shop down the road, her friend’s more likely to check it out.
By having a good product and giving your customers a good time, it is certain that word about your business will spread. But don’t just leave this to chance.
After you’ve made a sale, follow up your customers with a call or an e-mail. Ask them how they’re enjoying your product. If/when they give you a favorable response, remind them to tell their friends about you. People love to help, so if they enjoyed their experience, they definitely will have you in mind when their friends come around.
You can also apply this to your checkout page or website. After your customer has made a purchase, leave a little note telling them to recommend your business to anyone they think may like your product.
By asking for referrals, word about how good your business is spreads fast, and so does your business growth.
5. Automate As Much As You Can
Business growth is good in terms of money and status, but it also translates to more work. If you do not set up systems to manage the influx of customers then it’s likely your business will crash and burn.
To avoid this you’ll need to set up and automate a sales funnel and CRM. These are the touch points your customers will interact with often and it’s best practice that they can be running in the background even when you aren’t around. Doing this provides you more time to focus on more parts of the business that need your time and energy, subsequently allowing you to help your business grow.
Conclusion
At the beginning of this article, I said that the most important thing for you to remember is: customer focus. And if you paid attention to all the five strategies we discussed, you’ll find the customer at the core of each of them.
Without customers, your business can’t grow. If you don’t take care of your customers, they won’t take care of you. I believe that’s the most important thing to remember out of everything we’ve talked about in today’s article: take care of your customers so that they’ll take care of you.
And that’s it, five different strategies to boost your business growth no matter what stage of business you are in.
If you found these tips helpful please share with your friends and business owners you think may need it.
Want more?
Until the next one,
Stay easy,
Big Dave.
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