How To Grow Your Business Quickly
Now, what we are going to talk about today is not new. In fact, it is going back to basics. But the thing is, with an abundance of resources and ‘new’ things to do, sometimes we forget the ‘basics’.
So I wanted to delve into an idea that I came across online recently, it was actually from a video that you can access here.
Now although the percentages used in this video are outdated, the concept remains.
In short, the main message is: to grow quickly, you must focus on existing clients and new products. But, I am going to dive into it more a little now.
Existing Customers. Existing Products. But New To Them.
In the video, there is a strong focus on selling new products to existing customers, but ‘new’ doesn’t always mean that it is new to you.
The first focus really should be, looking at your existing customer base and working out how you can serve them fully.
Are they aware of all your products?
And what is more, are they aware of how they can help them to better their lives?
So creating new products needs to be seen as part of the growth plan but at a steady rate.
What we tend to do is focus on creating new new new. Now, of course, I am a huge fan of innovation and improvement but not at the expense of neglecting the existing products and services that you may have.
How many of your customers are 100% aware of all that it is you can offer?
I am willing to bet not 100% of your customer base (I am not sure anyone could make that claim).
So first, start there. Like I said, new to your customers does not mean it has to be new to you too.
Use the resources and customer base you already have, serve them fully and take it from there.
New Products. Existing Customers.
Being this in tune with your customer base will also help you develop new products as you will know what they need.
And this knowledge will speed up the process of development; there is no time wasted. Not to mention that if you are creating something, so aligned with what your existing customer base will want, it will be a much softer and purposeful sale.
It is also the time I would say that you will want to start ‘planting the seeds’. While right now, you are focusing on selling new and existing products to existing customers, you do not want to forget the more comprehensive view.
In order to sell to existing clients, you will also need to grow your customer base. So start planting seeds, and showing up and having a funnel in place to manage and serve the new customers.
Planting seeds looks a little like this:
Showing up on podcasts.
Adding value through social media.
Blog posts to serve.
Going to events where your new and existing customer base will hang out.
This way of looking at things, will help you continuously grow, not just focusing on the ’now’.
New Products. New Customers.
So, as I have said, although it is fundamental to focus on existing customers, this does not mean you can forget about new customers altogether. It is more about how you split out your time.
Market share revenue should not be forgotten. If you are looking for the steps to action or where to focus, it can look a little like this:
Existing customers + existing products + planting seeds
Existing customers + developing new products + planting seeds.
Existing customers + new products + planting seeds.
New customers + existing products + planting seeds.
The continued step is always to be planting the seeds, but serving the existing customer base. As new customers, will become existing customers and so on…
So how does all of this help you? Where do you go from here?
This breakdown will help you manage your time and focus.
This video helps you, in theory, map out your time and gain focus for your business.
Setting the time aside on a daily, consistent basis to serve your customers, develop new product and streamline the business is fundamental.
Consistency is key.
It is about getting that blend of priorities.
So, what is your next actionable step that you can take from here? Write it down and schedule in some time to action it!
About the author
Chloe Slade is the Marketing Manager here at Cone and focuses on creating content that brings business and lifestyle together. Chloe is a keen makeup lover, foodie and loves to work from luxurious destinations.