Once you have your business up and running, you’ll want to look at which growth strategies are appropriate in your business category. Typically, businesses in the startup phase always cost more to get going than one expects.
The business plan is usually inaccurate when it comes to planned expenses and this leaves the newly formed company needing to expand quickly to survive. The same is true for older companies looking to improve their growth strategies to keep their businesses moving forward.
Here are three approaches to business growth. Each method is completely different from the next. Choose the one that’s most appropriate for you and your business.
Technology has changed considerably over the past five years. Smartphones, and to a lesser extent tablets, have taken over our lives. We feel the pressure to stay in contact and keep up with the online world.
Your customers or clients will also expect your business to be accessible online. Whether that means a website that works just as well on a smartphone as it does on a laptop or a mobile app they can download and install on their iPhone or Android devices, the company must be where the customers expect them to be.
Looking beyond websites and mobile apps, hooking your business into payment services such as Apple Pay is a smart way to keep up with trends in e-commerce. Several swipe-to-pay systems, including ones from Samsung, Google, and PayPal, use NFC technology inside the latest devices to identify consumers and authorize payments from secure digital wallets.
Depending on the size of your business, you may run educational courses in-house or send staff out to externally run training courses. In most cases, these courses only last a few days and cover specific topics without the depth and breadth that a longer course offers.
One option is to take a long-term view on business growth. Provide the opportunity for a suitable member of staff to study for an online master of science in marketing management at New England College .
Given that the course is online, it’s something they can attend without needing to live in New England by accessing the study materials on the web. An online MSM degree is an excellent way to develop the abilities of your staff to deliver business growth opportunities. This, in turn, increases staff retention rates.
Video Content Marketing
Video content marketing is becoming a new outlet for companies that previously relied solely on content marketing. Some marketing messages are best conveyed through moving images rather than static advertisements or blog. Video content is a way to bring your business brand to the attention of thousands (sometimes millions) of viewers almost instantly and at minimal cost.
Pay attention to the presentation and the video editing, as even the semi-professional owners of YouTube channels are publishing impressive video content. A business brand is expected to look the part in any format.
Being able to continue to grow a business is all about moving with the times rather than becoming stagnant. With most of your customers having moving online, keeping up with changing times is more difficult than ever but businesses must endure. It’s the only way to grow.