Small businesses are competing in a sea of competition against not only their counterparts, but larger companies as well. It’s becoming nearly impossible to set yourself apart in social media, online and offline marketing, sales and the other various channels we use to market these days. You might be experiencing stagnation, low profitability, slow growth or worse. Of the many business solutions we teach, we have identified three simple strategies to instantly increase and grow revenue for small businesses.
We call this G3® – Gain, Guard, Grow
Imagine using these simple strategies to get more clients, protect the clients you have and grow your current accounts so that you can be more successful! I like these strategies for small businesses because it simplifies immediate initiatives to increase revenue and I’ve seen it happen instantly once you begin focusing on it. They are:
- Gain: (Get more clients) – Write down ways you gain new business. Such as, more marketing, advertising, sales, knocking on doors, tradeshows, etc… What about reactivation or retargeting online visitors. Yes, you may have already thought about a ‘sales and marketing strategy’ but maybe you haven’t looked at ALL the ways you could get business. Do it now! We’ll talk about how to implement the strategy, but for now, just write the many ways you can acquire new business and prospects.
- Guard: (Customer retention) – Write down how you can maintain the customers you have. For instance, better customer experience or service. Maybe a loyalty program, special membership or VIP treatment. What about more tools, education or resources. Think about retaining the customer and lifetime value (LTV) of a client. It’s 10x harder to get new customers than to keep the ones you have. This is a critical piece we often lose sight of because we are caught up in prospecting and new business. We drop the ball on client delivery and service, thus losing valuable customers a long the way. The lifetime value of a client important to understand. If you haven’t done an official LTV analysis, it would be worth the exercise to do that now. Just showing appreciation, reciprocity and being attentive can easily affect long-term business. Something to think about!
- Grow: (Develop Accounts) – How can you get more business out of the clients and accounts you already have? Simply brainstorm ideas on how you can develop these accounts or grow them. For example, additional services or products? What about asking for more business – when I owned a printing company, one of our GROW strategies was to ask for more departments once we had the work of another department. Referral business within companies (other departments) is very viable depending on your product or business. You can also cross-promote or plant seeds for future product/ service offerings and even launch new services within the account. There are so many options to explore, even in turbulent times – write them down now.
The G3® – Gain, Guard, Grow strategy works great with small and new businesses that haven’t capitalized yet on growing, retaining or developing client accounts. Sometimes, you think you’ve done all you can do to increase sales but almost everytime we use this strategy in our workshops, pariticpants get excited about new ways they can grow revenue that perhaps they haven’t thought of until now. This is another reason why getting out of your comfort zone and taking a step back to plan for your business is so advantageous. Attending one of our workshops, retreats or live masterclasses can spur creativity and help you discover new opportunities.
Learn more about ZONEMastery Business Mastery Retreats
We’ve put together our best content for our one-and-two day events so that every business owner and their team can leave with a relevant, actionable plan. It’s not a business plan, it’s a one-year strategic roadmap that really works! We’ve proven it… Of all our years of teaching and coaching, this event by far has helped more business think through their ideas and find creative ways to put them into action than any other event we’ve taught. You’ll take a step back and walk away feeling it was the best time spent in a long time working ON your business.
About GrowthSmart Consulting, Inc.
Since 2007, GrowthSmart Consulting, Inc has specialized in Revenue Chain Management™ strategies, including: sales, marketing, training and operational performance to improve revenue, profitability and sustainability. Our goal is to drive long-term growth with systems and processes your team can use to maximize results, ultimately creating better performance across the revenue chain. In addition, To support small business growth, GrowthSmart has recently launched a series of small business retreats, training and resources including the ZONEMastery System™ and ZM Retreats®. Don’t forget to APPLY for your FREE resources TODAY.