Any long-term development of business depends on business firm decision to prioritize long-term business success. In turn, comes long-term business growth. This article explores business strategy tactics that are logical and doable…
You want long-term business growth? Consider these long-term business strategy examples!
No matter what industry your business falls into, the goal is to create sustainable growth that will help your business thrive. While some of the specifics may look different for various niches and industries, some of the basic concepts are the same no matter who you are or what you are trying to accomplish.
Especially for small business. We’ve found it can boil down to this equation:
Social media marketing + talent acquisition = Long-term business growth.
Let’s explore three business growth strategy examples…
Know Your Ideal Customer
It makes sense on the surface that you should try to appeal to as many people as possible to gain a large number of customers. But tactic actually proves to be unproductive.
You are not going to be able to please everyone. In trying you could alienate the people who are genuinely interested in your company’s products and services.
Learning about your target demographic and tailoring your business to meet their needs and wants will help you to gain loyal followers and customers that will support your business. It’s about solving their pain points.
Social Media Marketing
Every business that hopes to grow in today’s increasingly digital world needs an effective social media marketing strategy. Having an active presence on social media is a good marketing strategy that most businesses need to employ. It is generally low cost yet high yield when it comes to the quality and quantity of the audience you can potentially reach.
It will be overwhelming to jump into mastering all forms of social media at the beginning. Instead of creating accounts for all the platforms that exist (there are thousands!), it will make better sense to think about your target demographics. Focus on where they spend the majority of their time when they are online. How and when can you best reach them?
Once you have narrowed your focus to a few platforms, you can prioritize your efforts on making the most of the time and resources you invest into social media marketing. You can use social media to:
- Drive traffic to your website
- Promote new products or services
- Manage customer service
You can also use social media to engage in conversations related to your business and establish yourself as an industry leader people can trust.
Social media also allows people to:
- Learn more about your company
- Like, and share about your brand
- Promote your business by recommend your services to their friends and family
Word-of-mouth is the best kind of marketing because people trust other people and their peers more than advertisements.
Find Expert Support That Can Produce Long-Term Business Growth
It is important for small business owners and entrepreneurs to realize when they might need help from an expert professional in areas of their business.
While it is possible for you to handle most aspects of your small business by yourself at the beginning, you cannot be expected to be the expert on all things – Especially during the launch phase. There are actually several reasons that you might want to delegate.
Just face it. As your business grows, you are not going to be able to physically manage everything on your own. Learning to delegate to other people or outsource some of your tasks will help you avoid burnout. It will also free up time for you to develop your business.
Where you lack the expertise, bring in an expert consultant to help steer that area of your operation. Get recommendations and reference their body of work to know they will deliver excellent results.
Employee recruitment can be challenging. Investing in quality talent acquisition is smart for long-term growth. You could benefit greatly from hiring a talent acquisition firm or an independent professional like Edward Harner. Consider your strengths and weaknesses when it comes to running your business. This will help you determine what type of consultant will best fit with you.