Organic business growth is the ideal option for most businesses as it entails using available resources for business expansion. When trying to grow a business organically, it is important to balance quick wins with long-term goals so the business does not lose sight of where it would like to go. Organic growth yields tangible results and to help you achieve this, we will look at some strategies you can employ to help your business grow.
Sell to Your Best Customers More Frequently
While customer acquisition is always important, businesses should also look at past customers to determine which of them can lead to significant growth. These are the customers who have provided the highest profit contributions, lower costs to serve them, and who can be pressed for additional revenue. This is typically 10-20% of a business’s past customers and clients who are likely to buy from the business again.
Optimize Upcoming Launches
Even in cases where a business has a lot of money to spend, it is still essential to optimize launches. This entails assessing all launches to see which ones are most critical for market introduction, brand awareness, and customer acquisition. Properly executing a smaller number of more impactful launch campaigns will yield better results than having lots of smaller launches that dilute your impact on the market and among customers.
Consider Organizational Changes
Sometimes growth stagnates due to people feeling too comfortable in their positions and the relationships they have formed. An organizational shakeup can help freshen things up, improve working efficiency, increase productivity, and spur the growth your company has been looking for.
An organizational shakeup is crucial for businesses targeting long-term growth because these shakeups can disrupt the departmental dependencies that make everything work. Because of this, they can take a while to pay off.
Organizational shake-ups should also take place at the upper levels. This is typically achieved by bringing in an expert to help provide advice on overall business and growth strategies. Business experts like Rami Cassis who advise decision-makers and provide them with strategies for organic growth are an option to consider.
Refresh Your Best Products
When growth starts becoming challenging, businesses ask their sales teams to sell more, their financial team to keep an eye on the money, and for engineers to develop new products that will sell fast.
Instead of doing all this, you can always go back to your best-selling products and see how you can sell them again. Changing existing features or adding new ones, renaming popular products, improving them, and selling them as new models has worked for numerous companies in the past and there is no reason why they should not work for yours, too.
When you want your teams to work faster, celebrate their successes, and reward them for their hard work, you might be hindered by existing processes and administrative bottlenecks. Dealing with these bottlenecks can help you unclog additional growth potential by making things more streamlined for your team(s).
Organic growth is the best option for most businesses because it limits external interference with how the business is run. That said, businesses should work on organic growth strategies that help them overcome the plateaus many businesses reach and are then unable to grow further.