12 Powerful Growth Strategies to Increase Revenue

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster... 

While a myriad of strategies can enable a small business to achieve growth, here are several that warrant consideration and implementation.

Align Sales and Marketing.

The terms sales and marketing are often used interchangeably. However, these vital functions provide very different—and equally important—contributions to the company or organization. They are, in fact, the Yin-Yang that cultivate customers, generate sales, and serve as the fuel for your company. Marketing is, and should be, viewed as a critical investment for the financial success of the organization. Sales without an appropriate marketing function is costlier, less effective and reduces the bottom-line.

Increase your geographic reach.

Focusing on a manageable territory is smart. Developing opportunities to expand your customer reach is a significant growth strategy that should be pursued in a phased approach to ensure that additional customer requirements, logistics and costs are addressed.

Manage your customer acquisition costs.

Opportunity cost is the value of a forgone activity or alternative when another option is chosen. Opportunity cost comes into play in any decision that involves a tradeoff between two or more options. The cost associated with the customer acquisition process is an important measure for a business to evaluate in combination with how much value having each customer typically brings to the business. Your customer acquisition cost evaluation should inform your pricing strategy.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article here and share your thoughts with me afterwards: call (0467) 749 378 or email me at robert@vicleaders.com.au.

Thanks,

Robert