The key with any growth strategy is to be deliberate. Figure out the rate-limiting step in your growth, and pour as much fuel on the fire as possible. Growth strategies resemble a kind of ladder, where lower-level rungs present less risk but maybe less quick-growth impact. The bottom line for small businesses, especially start-ups, is to focus on those strategies that are at the lowest rungs of the ladder and then gradually move your way up as needed.
Here are Seven Business Growth W.O.W.® tactics for increased market share that you can deploy now:
- Rule 1-12-50© – The first portion of every month (hence the number 1), consistently every month (hence the number 12), identify a population index upwards of fifty (hence the number 50) key customers or emerging customers and provide them a value added communication.
- eSignature Line – Consider adding into your standard email auto signature line any updates on products or services you provide to all recipients of your communication exchanges. This also serves as a powerful standardization for ensuring customers receive advance notices for deadlines, product or service announcements, changes and discontinuations, etc.
- eAuto Responder – Consider adding into your standard email auto responder (if you don’t engage it routinely, especially engage it when you will be away from email receiving) any updates on products or services you provide to all recipients of your communication exchanges. This is also a great way to promote and advertise to those people that initiate sending email traffic to you first, as now you can instantly bounce back a message to them.
- Hotel Letters – Realize that in most all hotels there seems to be at least pieces of stationary and envelopes in the desk drawer. Consider a hand written note to three “Vital Fews” about something that is top of mind to you and of value to them.
- “Advocate” Maintenance – Ensure that you never let an advocate get more than 30 days out from hearing from or seeing you. Plan regular communications and/or “thank you” events to draw from them ways to continue to enhance the service you provide to them.
- Newsletter – Design a high impact, value rich content based print newsletter for your core customers (the Vital Few) and send routinely to them as a way to enrich their value proposition in their market. Then, soft communicate a product/service from you to them at the end of each newsletter. This vehicle can be distributed to customers as statement-stuffers, attachments with invoices and contracts, attached to proposals and general correspondence from customer service contact professionals and the sales team alike. This can serve as a source for the Rule 1-12-50© campaign.
- Fax Alerts – No, this is not ‘so 1999’ to fax material. Consider a Friday afternoon fax blast to your customers with any products/services that can impact their bottom line, send announcements and press releases, etc. If these contact names are in your data base as clients and or contacts that you have a pre existing relationship with and/or have established a relationship with whereby they want communication offers from you, than a Fax alert or blast is a smart, fast, economical and acceptable contact means. Conversely, if you don’t have this rapport or permission then a fax blast may be seen as spam and be illegal in some non business growth oriented communities!Deploy these field-tested and proven strategies now and watch your business flourish.