Growth is absolutely vital for a company to stay in the competition. It’s not just a symbol of success and market acceptance but sustainability.
No doubt ‘growth’ remains the top priority for every business head across industries, due to the fear of simply falling behind your competitors.
Everybody wants to grow, but very few know how to. Matter of fact, research says that almost 30% of the businesses struggle to grow and have no clear path forward.
Let’s talk about some of the growth strategies that can help your business reach its target for the year 2020.
No surprises really! All the businesses love their customers, but very few get the same in return. Much to my surprise, a research says that customers would hardly care if more than 70% of the brands they use shut shop.
Especially for SaaS companies, this is as scary as it gets; with more than 70% of their revenues coming from recurring subscriptions.
Hence, focus greatly on your existing customers & ensure that they get the best possible customer experience at every touch-point through their journey with you.
Here’s how you can provide a superior customer experience:
- Deliver personalized marketing
- Stick to the desired budget & deliver on time
- Be open to upgrades, downgrades or even refunds
- Offer special offers tailored for your loyal customers
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Faster Customer Service
Imagine a situation where you’re just about to sign-up for a task management app and at the very last step, you wanted to know how many users can get access to one company account.
You wrote an email or left a message to the support team & they only replied after a day or two.
This is a very common but unfortunate scenario in the business world, which in most cases results in the customer switching to another service provider or changing his mind altogether about the requirement.
Customers usually expect a response instantly, within an hour at max.
The best way to reduce the response time is by implementing methods such as live chats, email notifications or at least an automated response acknowledging the interest & stating the earliest time they can expect an answer.
This makes the prospect/customer feel that their inquiries are not going unnoticed.
Point to Note: Getting numerous inquiries on your website action page? Try Wakeupsales CRM’s ‘Web to Lead Integration’ feature, using which you can convert your website visitors directly into leads. Take a FREE Trial
Data Driven Decisions
Contrary to the popular practice of taking decisions out of mutual discussions & gut feelings, the most important factor behind every business decision should be ‘data’. The only way you have a better chance of success is if the decision you’re about to take is backed by proven data or analytics.
Let’s say your management team has been sweating it out discussing how to make the product better.
The easiest & most effective way to get ideas is through customer feedback. Just ask your existing customers what they’d like to have on your product & their opinions are worth gold.
It’s also a great idea to reach out to customers that stopped using your offerings & ask for probable reasons. This will help you get priceless information on where there’s work to be done.
Point to Note: The ‘Reports & Analytics Module’ in Wakeupsales CRM tool offers a variety of reports from activity dashboard to sales funnel & lead aging, that helps business managers get valuable information for better resource utilization & forecasting. Take a FREE Trial
In today’s business world, growing isn’t a choice anymore. You just have to grow, to stay in the game. There’s no golden formula to grow your business, but the above discussed parameters will certainly help you stay ahead of your competitors.
I can’t wait for you all to start the new year on a high & kick start your business growth. Happy 2020 🙂
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