How to grow most effectively is a question we are asked often as an advertising agency. Everyone wants to grow their business, but not many business owners have unlimited resources to use for marketing. Repeatedly, clients tell us they don’t know the best way to allocate their resources. What should their priorities be and how can they cut through the clutter of marketing tools available today, are important questions to answer.
We’ve identified three categories critical to growth and we affectionately call them Get, Keep, and Grow.
- Get is acquisition. The goal is to acquire the best new customers, not any customers, but those that will be high value and show loyalty
- Keep is about loyalty. How often do your existing customers come back, why, and what brings them back?
- Grow is cross-sell up-sell. What do you offer or could offer that core customers are currently not taking advantage of but need, and how do you tell them about it?
Implementing a strategy in each of the above three areas is a great start.
Five Tips to GET, KEEP and GROW Your Businessa strategy in each of the above three areas is a great start.
- Establish a brand with a unique position in the market compared to the competition.
- Develop great creative that is clever, noticeable, and clearly articulates your unique position in the market compared to the competition.
- Become the expert, go-to source for your industry. Use affiliation marketing with business or consumer groups to position yourself as an expert and enhance your reputation.
- Know the profile of your best customer. Message to them and have a presence where they are making decisions.
- Have a website that captures leads, and stay in contact at least monthly with meaningful communication.
Keep in mind that at the heart of success is planning. If you fail to plan how to position your brand, then no matter what you do, you will be losing impact. Remember that implementing a plan in a disciplined manner is key to obtaining the highest return on investment (ROI) for every dollar.
Finally, it is not the size of your marketing budget that matters, but the strategy behind your choices, the management of leads, and the delivery of your brand promise that determines your success.
Name one thing you will do today to GET, KEEP or GROW your business.