As with any business it’s important that growth is prioritised to help keep those revenue streams bubbling over, employees satisfied, and offering your loyal customers something new. This guide will give you just a short insight into how you can use growth to improve your business without losing those key elements that helped you garner the customer base you presently have. Take a look below.
1. Market Research
As the old adage goes, if you fail to prepare, you’re preparing to fail, and that’s the same with business. Market research is the basis of any form of growth, and there’s no use making business decisions with growth in mind if they’re going to deter your current customers from using your services. It’s a good idea to conduct some qualitative and quantitative market research with your current customer base to gauge and understand their current wants and needs and what they value about your business.
2. Communications Improvement
Communication is vital to the success of any business, but many businesses can get carried away when it comes to automation and top-down bureaucracy. If your business is growing into international markets or you’re receiving too many calls for your core employee base to deal with, it may be a good idea to look into cheap call answering services that offer international contracts for calling and telecommunication services at a fair and affordable price for growing businesses.
3. Reward Existing Customers
What better way to keep those loyal customers coming back for more than to reward them for their loyalty? As well as channelling growth in other areas of your business, your customers are the reason you’re where you are in the first place. Why not look into providing loyal customers with special reward schemes or bonus offers that cement your place in their consumerist worlds for the long-haul. This means they won’t feel left out when the changes that come with growth emerge, because they’ll be enjoying some sweet, sweet rewards.
4. Streamline Your Business
Wherever it’s possible, businesses should look to streamline and create efficiencies in all departments, while striving to get to a level where all departments are staffed adequately. If you’re understaffed or overstaffed this can lead to miscommunications or neglect when it comes to your customer service strategy. Large and rapid growth before you understand how to deal with the economies of scale can cause customers to get antsy when they don’t receive that same level of customer service they experienced when you were a local business. However, with growth comes new customers, so not all hope is lost.
5. Audit Your Business
Auditing your business is a superb way of understanding what’s going right and what’s going wrong within your company and what departments are working together in the right direction. The resulting data and information you’ll gather during an audit will provide you with invaluable information to help you make those decisions to aid growth without sacrificing your long-term relationship with your loyal customers.