How To Grow Your Business

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DESCRIPTION The 7 things any business should be doing to achieve customer growth.


  • 1.How To GrowYour BusinessBy Chris Pattas

2. There are 7ways togrow yourbusinessFirst make sure you...Know your purpose,Understand your industryDene your competitive advantageChoose your target market2 3. 1. Retention & Repeat Business Are you growing your share of wallet? Have you implemented a loyaltyprogram? Are you developing great relationshipswith your existing customers? Do you know why customers keep doing business withyou? Do you have an integrated account management processor retention strategy and incentive program. Do you have a regular digital newsletter or seminar?3 4. 2.Acquisition or Partnering Have you identied other businessesyou could synergistically acquire orpartner with? Have you thought about verticalintegration? Do you spend time at board levelidentifying and developing strategicpartnerships? Do you have an active engagementprogram with potential partners?4 5. 3. Referrals from Existing Clients Word-of-mouth referrals are theeasiest way to grow your business Do you have a process or systemin place to encourage referralsfrom existing customers? Do you have a customer databasethat can be segmented and analyzedfor potential referrals? What is the nature of your recognition or reward program? Have you reviewed all your customer contact points for referralpotential?5 6. 4. Referrals from Trusted Partners Word-of-mouth referrals are the easiest way togrow your business Do you have a process or system in place toencourage referrals from partners? Accountants, lawyers, nancial advisers, IT providersand other trusted service providers can become agreat source of new business if this process isnurtured What is the nature of your recognition or rewardprogram? Do you have a methodology where trusted serviceproviders nd it easy and natural to refer customersto you?6 7. 5. Search Traditionally, people useddirectories to search for businesses.These days most people search forinformation and businesses usingsearch engines like Google andYahoo. Do you have a website optimized forsearch (SEO)? Does it have a blogor news channel? Are you leveraging social media? Are you accessing the millions ofpeople using LinkedIn, Facebook,Twitter,YouTube, Pinterest every day? Do you have a PR strategy and process? Is it working? Do you haveinteresting and rich content you can adapt for multiple channels? Do you have a process to leverage trade shows and other conferenceevents? Do you participate in digital events?7 8. 6. Outbound Targeting Are you successful at cold-calling? Do you use the telephone, email andtraditional mail to reach new prospects? Do you outsource or insourceyour lead generation from your calland mailing lists? Are you using LinkedIn to reach themillions of professionals who search for information every day? Do you have a call or email script that has a high conversion rate? Do you have well trained professionals who create a compellingenvironment for new customers to try your product or service? Do you ignore the prospects who have said no or do you have agood lead nurturing program?8 9. 7. Inbound Promotions How many different advertising channels do you use? Do you have different messages? Is thecall-to-action compelling? If you use Google Adwords and Adsense, doyou review your keywords and analyticsregularly? Are you advertising on Facebook for B2C and LinkedIn forB2B markets? Are your digital banners effective? Do your landing pages work well? Dont believe all the fear about traditional media. If used correctly andas part of an integrated strategy, traditional media can cut through tonew markets and deliver you an excellent ROI. Are you selective about the print media you use? Do you prefer radioor outdoor advertising? How about the local newspapers or magazines?Is the message consistent and targeted?9 10. Helping business owners & leadersachieve their vision &