Startup and business life moves quickly so strategies that work quickly and effectively are in high demand. This goes beyond looking at the end goal for your business, you must figure out every small step that gets you there. Rob Biederman has come up with a few steps to a growth strategy that has immediate results.
1. Determine Your Value
Every business must understand what sets them apart from the competition. It can range from management to production time to your customer service. Whatever it is make sure it’s relevant and visible to your customers and clients.
For example the beloved fast food chain In-N-Out created value in their freshness compared to others in the industry. Who doesn’t love seeing the potato cutter and the classic red and white decor paired with the small menu? In-N-Out has become a California staple and it’s because of their value of freshness.
2. Develop An Ideal Customer
It’s hard to market correctly if you don’t know exactly who you’re targeting. Creating a persona of your audience can help you figure out what they like to eat, where they shop and how they spend their time. Doing this research will streamline any marketing efforts so you know when and where to put your efforts.
Related: How to Create the Ultimate Social Media Strategy
3. Measure Your Results
There’s no point in doing research if you don’t analyze your results. Determine what your key indicators are (profit, click-throughs, conversions, etc…) and find insights through them. After you’ve measured and analyzed it’s time to do it all over again.
Keeping an eye out for your competition will help you see what changes are happening within the industry. Observe the campaigns released and the customer reaction, this will show you what your audience is looking for as well. Find unique ways you can further differentiate yourself from the rest of the players.
5. Build Your Strengths
While looking at your competition you must simultaneously work on strengthening your core competencies. Reaching further into what your company does best will give you that edge and competitive advantage.
Related: Utilize Performance Reviews For A Better Marketplace
6. Find Awesome Talent
Your employees are the ones directly talking and interacting with your customers so please take the time finding the right people. A couple more steps in the screening process and interviewing can really increase the overall value of your company. They are the face of your brand so you want people whose values align with yours and your company.
Hope these little steps can help you. There are definitely some things you can get started on right away!
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