Kick-start your Growth Marketing Strategy – Don’t Always “Stick To The Knitting”
Don’t Always “Stick To The Knitting”
There are two parts to this strategy:
One of the most profitable ways to grow your business is by encouraging the client to buy more from you.
However, many business owners will simply keep on trying to market their products or services to new customers. This requires a lot of time, effort and most of all… money. Instead, go back to your existing client base with something new, or a new variation of an existing product or service.
You already have an relationship with these clients, there is already a ‘dialogue’ going on, so profit from this!
The second part of this strategy is of particular importance, depending on the business you’re in. That this; if your business cannot fundamentally continue to trade profitably under its current model then you may need to change things, and tap into a different market – or – tap into the same market, but through a different medium.
For example: a company that offers, say, interior design services might find that it becomes increasingly difficult to find customers that are looking to move home and redecorate due if the housing market continues to stagnate.
Instead, this company might become more profitable if it were to change the focus of their marketing. Perhaps by targeting homeowners who are looking to make affordable improvements to what they’ve already got: same service, different market.
Literally sit down and brainstorm some ideas. Do not be concerned at this stage about the ‘how’, but instead focus on the kinds of additional products or services you can offer the client – an existing client, who already values you. Or similarly re-assess what you offer, and see how you can re-position what you do, and make it more marketable.
So there you have it…
Six key ways to Kick-start your Growth in tough economic times. Read, learn, but most of all… apply.
Andrew Ludlam is a qualified business adviser, marketing consultant and trainer, specialising in helping business owners position themselves as authorities in their field. To discover more, visit Maverick Marketing Consultancy