How To Accelerate Business Growth: Top Marketing Operations Tips
Accelerating business growth demands leaders to start thinking differently; innovation is vital. Where do you stand, really?
There might come a moment in time when you realize that your company isn't growing as fast as it should. Maybe you're anxious to keep up with or even surpass your competitors. Or maybe your business growth rate is simply slowing down, and you're looking for ways to make it pick up again.
Whatever the case, if you want to speed up growth to meet upcoming deadlines and accomplish specific business goals, there are several things you can try. But how does one start working on growth since there are so many choices but few resources?
Business success depends upon successful marketing strategies. Fortunately, there are multiple marketing operations tips managers like you can follow in 2022 to start accelerating business growth! Consequently, what I'm going to share in this article will surely help you achieve the vision you have for your company.
Here's how to make it happen!
6 Marketing Operations Tips To Help You Transform Your Business And Accelerate Growth
What does business growth really mean? In a quick effort to define business growth, I'd say that is related to how your company's bottom-line profitability and the market share presence increase. On the other hand, business growth could simply refer to the expansion of your company in one or multiple directions. From a business model to marketing strategy updates, opportunities for a business to grow are virtually endless.
Also, to define the acceleration of business growth, it's crucial to measure the changes. Thus, growing business success and sales is a primary motivator for most business leaders. However, not all companies consider business success and sales their top priority. For example, some businesses prefer to ensure that their employees or customers take that pedestal spot.
For such companies, growth strategies might focus more on both the overall employee and customer experience. And, believe me, that's how we've managed to grow eLearning Industry and make it the largest community in our niche.
So, here's how focusing on customers and employees can improve your overall business growth.
1. Streamline Your Marketing Operations
If you're ready to remove the complexity and dead weight from your operations, you can speed things up by streamlining your marketing operations.
For example, you might choose to leverage project management software to help your team work more effectively. Or maybe you need to start using an applicant tracking system to grow your team by bringing in the top talent in the market.
For faster growth, you have to prepare your company and remove the clutter from your business operations. By making it easier for yourself and your employees, you'll manage to scale your growth fast. What does this mean? Additional departments and more employees to deliver exceptional service and products to your growing partners and clients.
So, you have to make sure that you can analyze each task completed throughout the day. Then, you can determine whether it's performed quickly and efficiently by your team members. At the end of the day, you'll know if it truly ends up holistically benefiting your company. Or, you might find out that you need to reduce the amount of time and capital your business spends on specific tasks or products.
It's all about automation and optimization. Do you have what it takes to be an effective marketing leader?
Make sure to read the 7 skills strategic marketing operations leaders have in common.
2. Expand Your Target Market By Acquiring New Leads
By now, you must know what your target market is, as well as which strategies work best when you want to engage your prospects effectively and emotionally. You already know the opportunities you can share to better their lives by helping them with your insightful tips and valuable products or services. But to accelerate the growth of your business, you also need to tap into the enticing key markets that your competitors are leveraging.
So, take a moment and think of what new types of customers you can attract with your business's new products or services. And most importantly, explore how your rapidly growing business can scale to the point where you can extend your reach. That is, reaching out to target markets that previously were not a good fit.
Thinking there's no additional customer base that would benefit from your business offer is a mindset that will get you nowhere. Make yourself a favor and stop holding your company back from growing faster. Be it in a few months or years, you can take advantage of the potential of new target markets.
However, reaching new types of customers obviously requires some research. So, you and your team should start looking for lead generation opportunities. Fresh leads combined with some outside-the-box thinking is what will help your business grow at the speed of light. By loading up your CRM new leads on a constant basis, you'll have entirely new streams of revenue that are indeed worth the effort.
3. Improve Your SEO To Lead The SERPs
In 2022, SEO (search engine optimization) is more important than any other factor for your business. Why? Well, it boosts your visibility, brand recognition, and reputation. By leveraging SEO, you'll see results in the years to come for sure.
More and more consumers will look up solutions to their problems via search engines. That's how you make your business thrive: by leading the SERPs and outrunning your competitors through a solid SEO content strategy. Along with informative content, there's another search intent you'll be very interested in. It has to do with your company's reviews and list of products. Not to mention that prospects are looking around several business awards and top lists to see how your business stacks up against your competition. All the above take place long before they even consider visiting your building, no matter your niche.
If you want to boost your SEO, you can start by focusing on the keywords you want to rank for. Are there any competitors on the first page of Google? Well, your mission should be to outrank your competition and have your content appear in higher positions! When prospects enter a search term on Google or any other search engine, they usually look at the results of the first two pages. You're better off if you rank among the ten search results for your preferred keyword. Hence, you have more chances to get them to click on your content. For example, you can be the first eLearning business to show up when consumers search for "top LMS" or "skills training content."
Boosting your SEO takes a long time, but as you keep putting effort into it, you get more opportunities to reach audiences on local and global scales long-term. Consequently, you'll manage to speed up the growth of your business.
4. Expand List Of Products Or Services Offered—Slowly
Although it is a good idea to start adding products and services to your company's list of capabilities introducing a single new product needs days or even months of preparation. Yet, it is one of the best ways to expand your customer base and speed up your business's growth rate.
First off, you have to be sure that you prepare your sales team with the product knowledge they need. Simultaneously, your marketing team must grasp what the new product or service is all about and which buyer personas you have to target. Logistics is another factor you should take into consideration. Also, you have to make sure that you've found the best vendor at the best price and good quality of materials or supplies for everything you need. For example, you might consider reducing production costs.
Most importantly, your marketing department has to think of some pretty interesting email campaigns, pop-ups, landing pages, and social media posts to successfully promote your new product to the world. If you can't handle it in house, outsourcing your marketing efforts might be a good approach, especially if you want to target niche audiences.
Also, make sure to refrain from releasing all the products and services you want to send out in one go. It would be best to give your team enough lead time to properly understand and prepare for what is yet to come. Besides, your customers also need enough time to decide whether they really like your new product or service.
Continuously releasing new products at least once or twice a year can instill a sense of excitement in customers that follow or discover your brand. This way, they'll look forward to your next big release!
5. Start A Customer Loyalty Program
Marketers love statistics. So, let me tell you that the stats have shown attracting new customers is nearly three times more expensive than keeping old customers moving back. That said, customer retention is key, and your marketing team has to do everything in its power to make it happen. Fortunately, you can leverage customer loyalty programs to reduce your churn rate.
The above is one of the easiest and most cost-effective ways to keep loyal customers coming back for more. And at the same time, you can attract new audiences as well. A simple loyalty punch discount that offers "every third purchase free" or "20% off your subscription renewal" can be enough to retain your long-term customers. Thus, making them come back frequently. Or it might even help customers loyal to your competitors turn to your product or service instead.
Oh, and don't neglect to advertise your loyalty benefits online via email and social media. Or even leverage other websites to promote your offers to specific audiences. Make it your goal so that everyone in your niche knows how much loyal customers can save by using your business over others and watch your sales skyrocket.
6. Build Your Company Culture To Drive Business Growth
Look, I'm talking from experience here, and I can vouch that your business culture translates into everything you do. Your culture reflects on the quality and characteristics of your employees to the tone and message of every marketing campaign; it's incorporated into the way you treat your clients to how fast your company grows.
Do you have a strong company culture? Have you managed to build a culture around your business's core mission, vision, and values? If you haven't taken your company culture seriously, there's never been a better time to start than the present.
Managers and business owners who decide to build a strong company culture will gain:
- Improved employee competency that is also in alignment with your business goals
- Better customer service and stronger relationships
- Increased brand recognition because of your unique business personality
- Unity on all levels of your staff throughout each department
- A more positive and productive work environment because everyone shares common values and goals
I could carry on the list forever if you let me. The bottom line here is that the more you work on building your culture, the faster and more efficient your business operations will become as a whole. As a result, you will accelerate your business growth.
As the wise attorney team who wrote this article explained: Things are interlinked. Therefore, a business plan is a crucial step since it will ensure that whatever is done right in the marketing growth plan, is managed correctly by the management and finance team of the business.
Are you looking for tips on how to improve your company culture?
Take a look at how eLearning Industry got certified as a great place to work!
Summing Up
Growing your business is no small feat. So, if you haven't already, you'll need to define your company vision and set your company standards. It all starts by finding and hiring the right people and helping them bloom.
Trust me, empowering proactive employees by offering them continuous learning opportunities and room to grow is priceless. Drive innovation and out-of-the-box thinking by cultivating a fantastic work environment that leads to marketing success. And don't forget to offer them the tools to make magic happen along the way! Consequently, as your employees improve, so will your business.
Keep experimenting with new marketing techniques, and you'll get the results you need. Prioritize content development and focus on the ROI of your campaigns. Establishing your key marketing metrics is vital before you even start. But always work with your audience in mind and figure out how to align client insights with your business goals.
Optimizing marketing processes and finding effective strategies to bring in new customers is crucial to enable the business to grow and scale.
So, what do you think about the tips I've shared above? I surely hope they help you speed up your business growth in the years to come.
