Business Growth Strategies For Turning The Tide

Have you ever tried looking for business growth strategies only to find a bunch of generalized information? Almost like you’re reading the table of contents for any random generic book.

We’re about to change that for you. 

So our goal is to focus in on actionable strategies and techniques you can immediately start using, that will produce visible growth in your business in the long and short term.

We will reference the big four and finish with the mega three. We’ll teach you strategies utilizing these techniques that turn the tide for businesses everyday. So what are the big four?

1. How Business Growth Strategies Work Now

When we say big four, we’re referring to the most common areas you look too for business growth. They are market penetration, market expansion, product development and diversification.

These are broad categories and completely different in application depending on the type of business. Lucky for us, it’s the internet era and there are new and ways to implement these traditional strategies.

Check out our cross channel marketing blog for a list of marketing channels we have for business online. These days all types of business can benefit being online. Even gas stations sell gift cards online.

Before You Can Grow You Have To Know

So yes, we have a ton of online channels we look too when implementing business growth strategies. But there are a few things you need to flush out first.

The first place to start is to become an expert on your ideal customer. Who benefits most from your brand? Who do you want to work with?

We call this defining your customer avatar. You need to figure it out because it defines your every move you’ll make going forward as you grow your business.

• What sets you apart from your competition when you serve this avatar?
• What makes you unique?
• What is your defining value proposition to your customers?
• Do you have a unique selling proposition (USP)?
• What motivates your customers to take action?
• What are they’re pain points?
• What are there goals in life?
• Are they college educated?
• What do they hate?
• What do they love?

Simply put, becoming an expert on your customers wants, needs, and desires is the starting point of all business growth strategies.

2. When Business Growth Strategies Hit The Market

Now that you know what sets you apart in your customer’s eyes, your next step is to start looking into market penetration and expansion.

Which simply boils down to finding and attracting your ideal customers. To do this, we use demographic marketing.

We segment and organize our market into groups, based on specific criteria. This is a way we penetrate and expand our customer audience.

Furthermore, using demographics is also a great way to expand products and services. If you sell yoga gear and find no designs for senior yogis, craft something new for their market.

Here Are Some Demographic Group Examples

1. Married
2. Sex
3. Country
4. State
5. City
6. Children
7. Political Affiliation
8. Income Level

Time To Fly And Track Your Progress

Now you can start marketing on all channels. Crafting ads, creating content articles, emails, free content, opt-ins, and offers.

Use SEO content strategy in tandem. It ties in perfectly with demographics, helping you not only know your target, but how to target them with keywords and phrases they use.

But it’s detrimental that you track your numbers. Check your email marketing metics, google analytics, ad metrics, etc… This is how you keep your business growing.

Because you targeted, you should have higher conversions and opt-in rates. But you must keep track!

3. Where Business Growth Strategies Automatically Produce

When you increase traffic, using automation will help limit lost opportunities at all stages of the funnel. Marketing automation can be used to attract new leads, warm up current leads who aren’t buyers, or getting your past buyers to buy more or buy again.

Let’s dive deeper into the topic of product development and expansion. Forget the old exporting, licensing, or re-inventing the wheel when developing new products. With modern content creation you can create products and bring them to market drastically faster.

You can multiply products in the same way we use content multiplication. It’s basically a modern form of product diversification.

But instead of branding hat’s, mugs, and stickers, you’re not bound to your brand! 

Content And Products You Never Knew Were There 

These days the line between content and product has eroded. That means you can turn content into product and product into content.

For instance, you can take your products and make instructional videos or free content on how to use it. Next take the free content, blogs, and “how to articles” and turn them into e-books or online courses for sale.

It works forwards, backwards and sideways. Videos transcribed into blogs, turned into e-books and courses, this strategy is a great alternative to traditional product development and diversification.

The sky is the limit, now on to the mega three!

4. What The Mega Three Business Growth Strategies Are

Lets save the best for last. The mega three are the most effective ways to measurable results and they are Up, Up, Up. They are:

1. Get the number of customers UP.
2. Get the average order value UP.
3. Get the frequency your customers are buying UP.

Getting any one of these mega three categories up will do wonders for your business. Getting all three will put you at the top of your game. There is no way around it, these are the numbers that matter.

More Blogs To Keep Your Tank Full Of Business Growth Strategies

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We encourage you to browse through strategysamurai.com or visit our YouTube channel. We’ll see you soon!