5 Business Growth Strategies Used By Top U.S. Companies …
by Jeff Pugel, CEO and founder, Ignition
…And How You Can Use Them To Grow Your Business
No matter what your company’s specific goals are, the ultimate aim is always to achieve sustainable growth.
Whether you want to increase your total number of customers, annual revenue, lead generation or overall market presence, you need an effective marketing strategy to grow your business.
You can get by on referrals and passive client acquisition techniques for a while but, eventually, the industry will pass your company by if it is not growing.
So, the question is, how do you achieve sustainable growth? Is there a competitive strategy being used by top U.S. companies that you can use yourself? How do you position your company so it is no longer at the mercy of fickle customer relationships and fluctuations in the market? How can you increase your market share while stimulating organic growth?
The best approach is to come up with a marketing plan that incorporates a proven go-to-market strategy that top companies use to generate new leads and sales. Below are five of the best business growth strategies used by top U.S. companies to gain a competitive advantage.
Define Your Company’s Ideal Buyer Profile
Stop chasing unproductive leads. It is a time consuming and unprofitable use of your resources.
Top U.S. companies in every industry do not waste time on leads that don’t translate to sales. There are some audiences that, no matter how skillfully you nurture them, will never be a viable option.
This is why you should create a reliable profile for the type of customer that is not only likely to become a sale but also the type of customer that is a good fit for your company’s services.
Stop concerning yourself with how you can attract the highest number of leads. Narrow your approach and focus on the most productive ones.
Which audiences have you worked well with in the past? Which characteristics set those audiences apart from your other customers? Answering these questions helps you narrow down the type of your ideal buyer.
Remember, top companies are extremely efficient. They do not waste time chasing down pointless leads. Neither should you.
Know When a Lead is Engaging With Your Company
The top companies know when to strike. They know when a prospect is showing genuine interest and how to take the next step.
You have to separate the people who are looking at you out of curiosity from high engagement leads that are indicating legitimate interest.
Again, the goal here is to make the best use of your time and resources. Don’t chase down leads that won’t make a purchase. Define the threshold where someone becomes a qualified lead that is worth pursuing.
Once a lead is determined to have shown genuine interest in your products and services, actively pursue their business and move towards the next part of the sales process.
Provide Your Leads With a Solution to Their Unique Problems
Top companies sell their products or services as needs rather than wants. They don’t say, “Here’s why you might like us.” They say, “Here’s why you can’t afford to be without us.”
There is no way around it, people these days have short attention spans. You need to stand out if you want any chance of securing new business.
The top U.S. companies find a way to make their products and services appear as a solution to a problem. To do this, you have to identify the problem first then show how you can provide the solution.
Identify a problem your ideal lead has then tailor your marketing content around a specific solution to it. What can you do for your prospect that the competition cannot do? Make your offerings appear valuable. This helps you transition them from a potential customer to a successful sale.
Top companies know that to grow, they need to stand out in their industry.
Entering a crowded marketplace is difficult. You need to demonstrate your competitive advantage over others. Why should your leads choose you instead of someone else?
Growth depends on conversion. To convert leads into sales, discover what you do differently from everyone else in your industry. Find your niche and narrow in on it.
If the competition is doing one thing, do something different. Make sure your leads know that you offer an alternative to what the competition is offering.
Modernize Your Marketing Techniques
The top companies are not where they are by accident. They adopted the latest technologies and data capturing techniques to secure the biggest share of the market they could.
We are now firmly in the digital age. You need a strong online presence without question. Without one, you will not just fail to grow, but your company will become irrelevant. All of the top companies are taking a professional approach to managing their digital, online, and social media presences.
Go where the best leads are. If the leads you want are using a specific social media platform, have a presence there. Are you trying to target a younger client? Chances are advertisements on Facebook, Instagram, and Twitter will resonate with them.
Do not overlook the effectiveness of LinkedIn. LinkedIn allows you to connect directly with the decision-makers at the businesses you’re trying to land as clients.
Do not neglect email marketing. Most people use email for the majority of their business conversations. You need to make your agency a part of those conversations.
Learn From the Best
In this day and age, there is no excuse for ignoring what the leaders in your industry are doing. Successful companies plan for growth and work for it.
Be like the top companies and do what it takes to secure the business that allows your company to grow.
These strategies are designed to help your company, but your efforts should not stop there. Study the top companies in your industry and keep evolving.
About Jeff Pugel:
Jeff’s goal is straightforward… to help serious business owners generate more clients, close more sales and increase their overall revenue and profits… quickly and inexpensively.
Jeff specializes in sales and marketing for small business owners. Over the years, he’s developed a keen understanding of the complex issues facing small business owners in the type of volatile economy we have today and foreseeable future.
A 20+ years career in marketing working with top marketers including AT&T Wireless, Intel, Advil, American Express, and Esurance prior to becoming a marketing coach has helped Jeff develop the skills to quickly and effectively teach small business owners how to successfully apply the right strategies in the right order that allows them to grow their business to its maximum capacity.