Growing an enterprise is easier said than done, especially when an organization needs to take a step further and establish itself as a proper business. Reaching solid ground is never easy, and getting out of the start-up phase is one of the hardest milestones to achieve. A fully-grown organization must be able to coordinate a full team of workers (or even more than one), possess several reliable marketing funnels, and communicate in an engaging and effective way with its customer base.
Reaching this point in the digital era requires a unique and modern approach that goes well beyond the traditional advice that sufficed for older types of businesses. For once, you need a flexible marketing strategy built around the new needs of the digital natives, and that is able to leverage existing technologies as much as the immense potential of those techs that may change our future (such as AI or 5G). Nothing is worse than building a selling strategy only to have it completely demolished by some unexpected disruptive technology. So how can you expand your customer base, reach all your goals, and achieve the immense feat of growing your enterprise in 2019? Let’s have a look.
Establish a safe and effective team communication strategy
If your team struggles to deal with its daily workload, how is your company supposed to reach its own milestones, grow, and thrive? The secret for a properly functioning team is to focus on teamwork, motivate your employees, and help them coordinate themselves toward a common goal. Seems easy, doesn’t it?
Anyone who ever led a team will know that bringing out the best from other people is one of the hardest challenges you will ever face. If you want to improve the interactions between your employees to boost their productivity, you need more than just a shared corporate vision. You need the instruments to simplify their day-by-day communication and overcome the many challenges brought by fragmentation that are typical of the digital age. Email chains and phone calls can be unified by group chat rooms by business instant messaging solutions, preventing all those factors which cause communications to break down.
Leverage the newest technologies to work with data-driven insights
If you want to reach new prospects, you need a solid marketing strategy. If you want to avoid burning all your finances because of a poor marketing strategy, you need to assess your company’s strengths and weaknesses properly. An in-depth analysis of your business’ statistics and numbers are at the core of any marketing strategy.
We live in the age of the Artificial Intelligence (AI) revolution. AI can “break the vault” and make sense of the immense goldmine of information represented by the so-called Big Data. They can read and write reports at a much faster rate than humans, establish correlations, and remove any potential bias from both the data gathering and assessing steps. With the right tools, your marketing specialist can analyze and cross-reference data coming from across channels, such as surveys, social media comments, and much more.
Intelligent chatbots can be used to ease the workload of your customer support team, all while digging out a lot of useful information from customers during their conversations. Tracking your customer behaviors can streamline your marketing strategies by relying on data-driven insights. Automated processes will simplify the life of your employees by easing their efforts with repetitive tasks, ultimately saving you precious time and money. Even if investing in new technology may look challenging, all the money spent this way is value spending through and through. And with value spending, you grow up your company, and in the long run, you’re just spending less.
Lateral thinking can bring you alternative advertising channels
Today, every single company out there is using social media to advertise its products. Tons of money is spent every day to push ads on Instagram and Facebook alone. SEO and PPC campaigns have become a staple of every advertising strategy, with countless brands fighting over the first page on Google search results. No one in his right would ever think about underestimating the need of creating a fantastic website with lots of interesting information about everything you sell.
In other words, if you invest in any one of the traditional digital marketing channels, you can be sure you’re going to face tremendous competition. So what are you supposed to do? A common mistake made by many organizations is just to stick to what other people do. The “herd mentality” is safe and sound and may work up to a certain point, but if you want to emerge, you need something more.
After you made sure to cover all bases by sponsoring your products through all the “traditional” channels, it is time to start thinking laterally. Have you ever thought of, say, sponsor your products with a Podcast? What about creating a lively, fully-dedicated YouTube channel to reach a diversified public? Rethink your strategy in a completely different way. For example, if you sell your software as a product, try selling it as a service. Try reaching a completely different audience. Try marketing your brand by using a storytelling approach. The more unique you are, the higher are the chances that your brand, company, or product will stick out in a crowd.
Build a solid relationship with your customer base
Improving customer experience should always be the first and foremost priority of any business. If your clients are always satisfied, the money will keep flowing, and your enterprise will always be healthy and thriving. This is a very forward-thinking, hands-on approach that always works, both in the short and long-term as well. Your loyal customers are a critical resource – they’re not just cows you should milk. They are a fertile ground in which to plant the seed you will later sow to grow your company.
A customer that is affectionate enough to a brand has an up to 12 times higher chance to buy a new product compared to the even the highest probability to sell something to a new prospect. Keeping your business’ churn to a minimum is critical – customers are worth more as they keep purchasing, up to ten times over. Solid customer care is the foundation of every successful business. More than two-thirds of buyers eventually switch brands after they had a negative experience with the staff – indifference being the most important reason. Forgetting to nurture your relationship with your customers is, therefore, a common way to lose a lot of profitable opportunities.