The quest to grow your business should be top of mind. If you don’t have growth, you have shrinkage. To avoid losing opportunities and missing out on the revenue and profit you deserve, you need to use the right strategies. Here are 5 powerful ways to get strategic growth.
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Lean Innovation
With how strong the tech teams are of most companies today, you need to compete on their level. No longer can you simply hack together solutions on your own. You need to adopt the policy of lean innovation. This means putting up ideas and rapidly innovating on them. Get more programmers into the mix to come up with technical solutions that can be adjusted and quickly disposed of if they don’t take off. However, these same ideas need to scale if they gain traction.
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Advertising
If you don’t advertise, you’re missing out. The best companies continue to invest money into advertising because it goes with the law of power: you get what you put in. If you put nothing into your marketing and ads, whether it’s on social, your website, offline media, or more, you’ll find yourself without as much market share as possible. However, you can see your revenue grow before your eyes if you’re willing to take a smart risk. A word of caution though: test your campaigns to make sure you’re not spending money for nothing.
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SEO
SEO is underrated. It has a bad rap from the years of abuse by black hat spammers. However, most of the industry of search engine optimization is made of career professionals. They know how to get your ranked and found more often. It’s not a science, but an art form. And it’s an art form that can make the difference between your competitor getting the business and you getting it.
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Emails
Don’t just send out email blasts once a year for your big sale. Take full advantage of this powerful platform. Social media platforms and other popular apps have come and gone. However, email stays consistent. It’s the one thing everybody checks. Make sure they’re also checking in on your new products and services so you’re top of mind when they’re finally ready to buy again.
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Referrals
Referrals are a powerful way to grow your business. If you don’t get them, you’re going to suffer. Without word of mouth, people have a harder time trusting what you say. So ask your best customers to name a few of their friends and share the news about your brand.
If you are struggling to grow your business, you are not alone. Many entrepreneurs find themselves in the same position as you do, but they don’t succeed. You can be the one that does. Simply put the five tips above to work for you and enjoy your increased profits.
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