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Steve
02-19-2007, 03:00 PM
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3 Ideas to Quickly Grow Your Business

Quote[/b] ]Before the week ended, I wanted to share with you some pieces of a conversation I had with a LCO this morning. He’s been in business for about 1 ½ years in a small town in Ohio, and has roughly 120 customers. He’s looking to grow his business significantly in the next year and we discussed some of the strategies he could use to make this goal a reality.

Even though we talked about quite a few different things he could do, here were 3 activities I recommended that could yield the biggest bang for the buck and do it the most efficiently.

1. Develop a Referral Marketing Program for Existing Customers

There’s no more valuable asset your business has than your existing customers. Not only do they provide all of your revenue, they also hold the key to additional revenue. If you can tap into the trust they’ve already demonstrated in you and encourage them to spread the word about the valuable services you provide, you’ll quickly leapfrog any sales goals you’ve previously established.

Now, one key to having success with a referral marketing program is that you have a good relationship with your customers. You MUST provide excellent service and be referral-worthy. You also need to try to develop a relationship with them beyond the service calls and monthly invoices. If you can make them feel appreciated by letting them know they matter to your business, they’ll be more likely to take an interest in seeing your business grow.

2. Develop Partnerships with Non-Competing Businesses

This is another low cost, yet highly effective method for growing your business quickly. If you think about it, there are dozens of other businesses in your area that are already providing service to your ideal client base. And since they already have a relationship established, why not leverage that credibility that’s already in place?

Imagine having the ability to get in front of hundreds of potential new customers that already know who you are, are interested in what you have to offer, and already have a small amount of confidence in you. Do you think it would make selling your services a little easier? Absolutely!

3. Use Highly Targeted Direct Mail

There is no method more powerful for growing any business than direct mail. Because of your ability to control everything about direct mail (who receives your offer, how many pieces get sent, the frequency of contact, etc.), you can make significant progress towards reaching your growth goals.

Now, the keys to success with direct mail are 1) selecting the proper media method to 2) get in front of the right targets with 3) a powerful message that cuts to the heart of your prospect’s wants and gets them to respond. Follow these principles and your direct mail will be infinitely more efficient and effective.

While there’s no magic pill to growing your business, these 3 methods definitely have the potential to jumpstart your growth, no matter your current size or budget.

Well, that’s a wrap on this week. I hope you have a fantastic weekend and look for more marketing insights next week!