When was the last time you sat down to evaluate your small business growth strategies?
Having a business growth plan is essential for long term success as an entrepreneur.
The phrase, “Growth Hacking” is often tossed around in the tech community, but honestly many of the methodologies practiced by these companies are common sense marketing strategies for sales growth that your small business should be implementing immediately.
The difference though for many of theses companies is that they’ve got a business growth plan well thought out and they don’t skip a step.
Below are 5 different types of business growth strategies you should consider implementing in your business today to get more people to your website and in your businesses doors.
5 Simple Business Growth Strategies
As shown in the infographic below, Hotmail was brilliant in their business growth strategy. Every email user shared at the bottom of their emails the famous phrase that exploded this company’s growth: “Get your Free Email at Hotmail”
Think about your small business and how you can make it easy for your existing prospects or customers to share your companies information more easily.
Be Creative! Recently we shared how you can use Snip.ly to attach a call-to-action to every link you share socially. Maybe it’s your company information.
Think about every time a customer has just used your product or service. How can you make it easy for them to share their experience with their friends or family?
Dropbox had many business growth strategies that they implemented in their earlier years, but one of the most effective concepts was giving users more space for free when they referred them.
Think about how you can incentivize your customers to refer your business.
This is also why it’s so important to know your numbers inside and out with your business.
What does it cost you to attract a new customer and what is the Life Time Value of your customer? Many times you can utilize your existing customers to lower your cost to attract a new customer by giving them an incentive to refer you.
When you know you customer acquisition cost, you know what you can afford to incentivize your existing customers to refer you new business.
Partnering & Networking
Every business owner can utilize the powers of networking and partnering with other businesses to experience massive growth just like Pinterest did.
How many partnerships do you currently have that send you constant business?
If the answer is none, you need to start networking more immediately to discover potential partners.
Every small business should have a handful of other local businesses that you work with to refer one another business. Again think creatively about who else is currently working with your customers and find ways to work with one another.
Raise your Business Profile
People like to do business with the leaders and if you’re not a leader yet than start tooting your own horn.
Get noticed by getting publicity, sharing testimonials and creatively increasing your businesses profile.
Utilize free tools like Help A Reporter Out (HARO) and start getting yourself mentioned in the press and then share these mentions on your website, in your emails, your store window and even on your business cards that you’ve been mentioned in whatever publication.
Look at Social Media Examiner’s email opt-in form. It states “Join 300,000 of your Peers! Get our email newsletter emailed to your inbox….”
300,000 is a powerful number and makes others feel comfortable that they should opt-in also.
How can you do this for your business to make prospects feel like everyone is doing business with you and they need to also?
Visual content is so powerful.
Mint (as shown below) utilized visual content through infographics and they also had massive business growth.
Are you utilizing visual content effectively for you business?
Some small businesses might say they don’t have the budget to put together great infographics, but you can utilize others.
Look at this Post Planner infographic shared over 8,000 times in one of their blog post and ranks on page one for the phrase: “How to get more Facebook Likes”
This is an infographic repurposed (much like the one below) by another company.
Think about how you can create great visual content that your avatar (prospect) would want to see and would share with others in their local community.
These 5 business growth strategies can help you experience hyper growth for your business:
- Partnering & Networking
- Raising your Business Profile
- Visual Content
Take the time today to review your business growth plan and look for ways to interject some of these strategies into your marketing concepts today.
Which one of these 5 strategies gave you an idea?