Grow Or Die
Those in business – particularly startups – love to use the term “grow or die.” It has a kind of heroic quality about it. You’re gritting your teeth, pushing through hell, and just “making it happen.”
But how do you actually grow a business? Well, as anyone who’s tried it will know, it’s not that easy. It takes courage and cunning to get right.
In this post, we take a look at some of the principles you need to adopt if you want to scale your enterprise and get it working for you, not the other way around.
Launch A Webinar Series
It might not sound particularly spectacular, but launching a webinar is one of the best possible ways to engage with your audience.
There are several reasons for this. First, it gives you an opportunity to demonstrate your competence. You have more than an hour to communicate your wisdom and say what you know.
Second, it provides ample selling opportunities. You have ample time to get your message across and how your brand adds value.
Lastly, it’s something that keeps people coming back for more. When you launch a webinar series, everyone is waiting for the next episode, building awareness and keeping the sales pipeline active.
Acquire Another Business
Another quick way to grow is to simply buy out another business. In many situations, there is no point building up the capability in-house. It is much more affordable to simply take control of a company that is already doing what you want to do.
Naturally, if you’re a startup, you probably won’t have the capital to do this. However, if you have an established company and you need to move forward, it can be a good decision.
Offer Something New
If your current product line isn’t selling as well as you would like, it could be a sign that you need to focus on something new. Often, diversifying your offering is the best way to drum up new revenue and keep your business moving forward.
When offering something new, focus primarily on your users’ pain points. Find out what it is that you’re not solving already and double down on that.
If you come up with a genuine fix, the market will reward you. Clients and customers will learn that they can come to you with all their needs.
If you offer something brand new, try to make it go viral. Look for ways to get the message out that you’re doing something that traditional brands cannot.
Offer Licensing Deals
Licensing deals are a great way for brands with valuable IP to build revenue streams without actually having to do a lot of work. The idea is simple: you allow other companies to use your technologies and products in exchange for a fee.
In many cases, this fee is surprisingly high. When brands have a monopoly over a technology, customers are often willing to pay just about anything to get their hands on it.
If you can market licensing deals to big companies, you may be even more successful. Corporations will often pay generous royalties in exchange for access to your intellectual property.
Partner With Winning Firms
Sometimes, moving your firm forwards requires partnering with successful firms. Strategic partnerships are supposed to be for the mutual benefit of both companies – and usually they are. But if you are the junior partner in the relationship, then you are getting more than just brand exposure. You’re also getting an opportunity to learn how a larger firm works (and how you can emulate them).
When you form a partnership with another firm, you’ll often discover where you’re going wrong. More experienced colleagues in other companies can put you on the right track, showing you the next steps that you need to take.
Work With A Marketing Company
If you can find an award winning SEO company, then great. If you can’t, then you should still work with some kind of marketing agency.
The reason for this is simple: marketing is hard and requires a lot of specialist knowledge. If you try to do it yourself, you’ll usually wind up spinning in circles, wondering why you’re not having the success that you want.
Usually, when you work with a marketing company, you pay a monthly fee. In return, you get SEO done for you, allowing you to slowly move up SERPs, and get more organic traffic to your sales funnels.
If you don’t work with a marketing company, this process can take years. It can be hard to make any progress whatsoever, given how crowded today’s internet has become.
Flesh Out Your Email List
Building an email list is part and parcel of running a successful firm. Virtually every company does it.
The reason for this is simple: once you have people subscribing to your emails, they are much more likely to convert.
To get people onto your email list, you have to offer them value. The best approach is to send them emails with special offers and competitions. People love these. You can also try listing daily deals within the email itself, providing links to your chosen payment gateway.
Create A Loyalty Program
Selling to brand new customers (people who’ve never interacted with your business before), is always difficult. Most consumers are wary of new brands, even if they have heard good things about them.
The trick here is to create a loyalty program. That’s because it is about three times as expensive to convert new customers as it is to ensnare existing ones.
When you successfully build a customer loyalty program, you’ll notice that your sales rise more over time. Because you are holding onto your core clients, the need to constantly seek out new one starts to decline.
Depending on the rewards you offer, loyalty programs are a great way to scale your business. The more engaged people are with your brand, the more likely they are to buy from you.
So there you have it: some of the ways you can grow your business.