Rooster Marketing, the creative marketing agency in Winchester, Hampshire are always being asked by clients “How can I grow my business and maximise my profitability?”
Growing your business is key to survival in todays business world, you must have a clear strategy in place so you know what you are doing and where you are going on your journey. If you sit back and admire all your hard work you have done over the years, other businesses in your market sector will innovate, change, develop and grow to over take you. You will find yourself maintaining what you have or going backwards: growth leads to success and helps you to remain focused on your business.
Here are a few tips that can work for you with a little planning.
1. Up sell to your existing client base
The first thing that springs to mind is getting new customers. What’s wrong with the customers you already have? They are your best bet for increasing your sales – it’s easier to get people who are already buying from you to buy more.
New customers are essential to growing your business. Ask your current customers for referrals, actively seek referrals don’t just assume that your clients will refer you and tell others what a great job you have done.
New products and services are a great way to get existing customers to buy more and attract new customers.
4. New products and services
There are various ways of growing your business by making your product or service available to new customers. Open a new store in a new location, create a new website or online store offering a bespoke service or product. Identify the new market, then advertise to it telling them about your new offering.
5. Trade shows
Trade shows draw people who are already interested in the type of product or service you offer, so select the trade shows you go to carefully. Trade Shows can help generate interest in your product or service and also help to raise awareness.
6. Niche markets
Refine your offering to appeal to this particular market sector and then market your offering to them directly i.e. Rooster Digital offers specialist property marketing to developers and construction companies.
7. Control your costs
We are talking about growing your business’ bottom line, analyse what products and services actually make you money and then concentrate on them. We all offer services and products that actually costs us money, why?
Successful growth through diversification is all about offering your market something that they already need or use but you don’t currently offer i.e. they already do a good job on my website so why not use them for my PR and communications?
If you have a successful business and can develop a system that ensures others can have the same success then the franchise model can be an ideal way to growing your business quickly.
International exports can really add to your business’ bottom line. It’s a way of growing your business that requires a commitment of time, money and resource, but can be very rewarding.
We hope that you find our blog useful, we are always being asked by our clients “How can I grow my business and add value?” We always say to them look at what your good at, what makes you the most money and then concentrate on that product, service or offering. Only once you have maximised the potential of your current services/products should you look to add new services/products or diversify into new markets.
Stay lean and keen, there is no room in the modern business world for fat, look after your existing clients as if it was the first time you were doing business, get your clients to refer you, that way all the hard work you put in will help promote you and your business for free.
Make sure that your web design is clear, simple and user-friendly and that your marketing strategy is in place, talk to people, good digital PR can make all the difference.
If you would like to talk to Rooster Marketing about your creative, web design, PR, TV & video requirements or a marketing strategy for your business, then give us a call on 01962 841200, email us on [email protected] or pop into our offices in Winchester, Hampshire for a chat.