With the 2017 fast approaching, it is a great time to take steps for explosive business growth next year.
Are you happy with how your sales numbers look for next year?
While there is not much time left to close new business for this year, you certainly can implement a few strategies to increase the probability of more new business for next year.
Most business owners believe that to create explosive business growth they must make massive changes. But in reality, you can make small, incremental improvements resulting in growth for your company.
Opportunities for growth can be found in almost every area of the business: lead generation, sales, sales conversion, changes to your offers that lead to higher prices or additional upsells, etc. Hear are some areas to concentrate on now:
Focus on Your Strengths To Create Explosive Business Growth
Focusing on your strengths rather than trying to improve your weaknesses can help you establish growth.
In fact, try outsourcing your weaknesses. Reorient the playing field to suit your strengths, and build upon them to grow your business
Your biggest strength is your existing customers.
- They already know you and trust you; you’ve already set them up to buy from you so there won’t be any delays serving them.
- Your existing customers are the easiest prospects to quickly put more sales on the books now.
It is cheaper and easier than selling to new ones.
Could you extend your product range or sell bundled goods or services? Your customers buy from you because they recognize the value you provide, so the hard work is already done.
Don’t be afraid to ask for advice.
Ask them how your business could better meet their needs and add value to the relationship.
Look at Your Competition
No matter your industry, your competition is likely excelling at something that your company is struggling with.
Look at similar businesses that are growing in new, unique ways. Don’t be afraid to ask your customers of what they think of a competitor’s product or service without mentioning their company name.
Continue to Improve Your Product
Improving your product does not necessarily mean redesigning your product or service.
It could be as simple as repackaging your offering.
McDonald Was Struggling With Sales Growth …
In the early 90’s, McDonald’s was struggling with sales growth. The franchisees were restless and the competition had the hot Teenage Mutant Ninja Turtles as their promotional partner stealing the kids business away. Management took a look at everything. They knew kids were crucial to their business. A child does not come into a restaurant by themselves and mom, dad, and brothers and sisters usually order the some high margin items, soda, coffee, and french-fries.
What they came up with was genius. The solution was to sell one of their best sellers at cost…the Happy Meal.
The Happy Meal for a $1.99. It included Hamburger, french-fries, soda, Happy Meal toy, Happy Meal box, other packaging costs, advertising, logistics and franchise royalty all for $1.99. The franchises weren’t to “happy” when this was first presented.
However, management was able to show that with more parents coming in and more frequently (hard to say no to $1.99) and with the percentage of higher margined items being purchased, the restaurants would be more profitable.
Take a look at your offerings and see if you can create a “loss leader” that increases your traffic and sales.
Target New Customers
Sounds obvious, right? But too many businesses rely too heavily on existing customers.
The more clients, the less the risk.
Each year, some of your customers will drop off.
- Think about which new customers you should target and how.
- Learn which marketing channels/methods work and those that don’t.
- Tactics such as introductory offers can help to attract new customers, but ensuring they remain loyal is the challenge.
Also Target Past Customers
Reach out to them and ask how your product or services could be better.
- Ask about your customer service, delivery and pricing. It is tough to reach out to past clients and customers when things did not work out. As a previous client, you know them well.
- Provide something of value for their business or by solving one of their pain points and you may have gained an old customer.
Open up New Distribution Channels
Most businesses focus on one or two sales channels.
You could start selling online. Using online methods could enable you to reach consumers in other areas of your country or start selling to overseas customers. Maybe you could turn your business into a franchise or license your products to other businesses.
Explore cross promoting and/or co-marketing with other non competing business owners.
Promote Yourself Online
Even if you can’t sell online, you can still market your business online.
- Make sure your website represents your business effectively. If not, think about getting a new one done.
- Social media marketing is one of the best ways to promote many businesses. LinkedIn, Twitter, Facebook and other social media sites could help you to attract, engage with and retain customers.
Find Your Core Marketing Channels
Small business owners have more than a handful of channels to choose from and most feel the pressure to use all of them.
I am a prime suspect of always looking at new channels hoping to find the “missing link or easy button”. My goal for next year is to limit the number of channels and focus on the one or two that will bring us the most business.
Here is a list of channels that can grow your business.
- Public relations
- Content marketing
- Offline/online marketing
- Social Media
Grow Your Network
It’s never too early — or too late — to grow your network, whether through LinkedIn or attendance at local events in your area.
Holidays are a great time to prospect, network and get referrals. You are probably invited to supplier and customer hoilday parties. You may hold your own function or customer appreciation event.These are great places to network and seek referrals.
Sponsor a non-profit or community event and incorporate your customers.
Update Your Marketing Materials
Get reviews, recommendations, and testimonials of your business.
They have always been an effective way to offer proof that your company does what it says it does and that your customers are happy and willing to talk about it. Feature your success stories in your marketing materials.
Make contacting you overly simple.
Stay Focused to Create Explosive Business Growth
- Commit to a certain amount of time you’re going to spend attempting to reach customers each day.
- Eliminate distractions such as your email and don’t take any in-coming calls. In other words, force yourself to stay focused.
- The fewer distractions you have, the faster the work will get done.
Additional Tips to Take Now to Grow your 2017 Business Sales
- Get your website to work harder for you.
- Structuring your site correctly helps you capture data and followers, generate enquiries, increase your influence and generate revenue.
According to the 2016 Pitney Bowes Global Online Shopping Study, Released October 16th, 2016, 43% of purchase discovery comes from search engines. They also noted that in the U.S. one-third of shoppers (33%) use mobile for completing a purchase.
You can check your websites SEO, websites download speed and mobile friendliest by having an audit performed on your site. You’ll want to speak with an SEO expert and I suggest reaching out to Dagmar Gatell and her Global Empire SEO Consulting team.
It is a great time to take action steps so you can increase your business profits for next year. Here are some additional ways to reduce small business expenses.
Now that you have your plan, you’re ready to take the steps to generate next years explosive business growth. The key is to execute it.
Get to work! In sales as in life, half the battle is just showing up!
Here’s to you building a stronger company. Good luck!
Best of networking luck from the Sozial Monster Team. We are experienced enough to solve your problem, small enough for you to know you will be a valued client.
If you want to learn more about how our team can help you grow your business, please schedule a FREE 30-minute Skype call with us.
Oh, if there’s anything I’m missing in this article, tell me! I’ll be happy to add it in.
We welcome your thoughts and suggestions on this article in the comments section.
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