Growth makes the
sustenance of an organization possible. In this intensely competitive business
world, organizations are required to implement growth strategies for
prosperity. This list offers multiple cost effective strategies that every
small, medium and large scale organization should implement in 2020.
Network
Network
Nothing could
beat the touch of human even in today’s world where technology has taken over.
If you work relentlessly with the purpose of growth in your mind, you have to
devise strategies in accordance. Attend the community and trade fairs, business
seminars or networking event. Share your business cards, identify potential
alliances and analyse your untapped market. A strong networking base allows you
to grow holistically and at a rapid rate.
Social media
Social media
If you haven’t
found your way to various social media platforms, now is the time. Customers
feels more connected to companies who have curated for themselves a unique
social standing. Social media offers an excellent opportunity to build strong
brand image. Use it effectively to add value to your customers and potential
client. The social media presence of a company creates its persona in the mind
of customer. Leverage the benefits of social networking platform like
Instagram, Facebook and twitter in your business to witness a rapid growth.
Email marketing
Email marketing
Email marketing
is perhaps the most effective method of marketing in today’s time. Invest some
time to build your Email list. Identify the ways through which you could add
value to your Email recipients. Use your creativity to design your subject
line. And most importantly offer the content that your customer wants. Besides,
get your Email signature before starting with an Email marketing campaign.
Customer satisfaction/ service/ reward loyal customers
Customer satisfaction/ service/ reward loyal customers
The cost of
acquiring new customers is thrice the cost of retaining an existing customer.
Undoubtedly, the business grows with an increment in its customer base.
However, measures should be taken to retain existing employee. As a modern day
organization, it is important for every brand to value its customers. It is
essential to draw loyalty programes to reward your loyal customers. Give them
VIP access to your offerings, offer them special discounts, and Give them an
access to newly launched product/service. Do whatever it takes to reward their
loyalty.
Get a strong team
Get a strong team
The success of
any organization largely depends on its employees. Whether you’re a small
business starting out or an already established business house, the quality of
your employees would decide the fate of your organization. Build strong core
team and offer flexibility to employees. Invest in employee training and
education. Invest in technology to facilitate ease of working to employees.
Your business would grow holistically when your employees become your brand
ambassador.
Customer reviews
The competition
around is intense and in order to stand out you need to prove your efficiency.
Gather feedback from your customers and post it to your websites, social media
platforms and E-commerce sites if any. Respond to the reviews received on
Google and engage with customers. Encourage your customers to provide reviews
and feedback by offering incentives. Reviews helps the brands and companies in
curating an image of credibility.
Influencers
Influencers
Marketing is the
only way to sustain in today’s business world. Influencers are gaining immense
popularity for the tremendous sales they bring.
The companies with strong product and service offerings should hire
influencers for growth. The benefits bought in by influencers would compensate
for the expenses borne for hiring them.
Implement these
growth strategies for the rapid growth of your business. These effective
methods will help you to avail substantial benefits of growth.
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