What is an example of an effective intensive growth strategy you have implemented in your organization?
To help you gain insight on winning business growth strategies, we asked business owners and growth marketers this question for their best advice. From supporting responsibility development to creating content with EAT, there are several examples of intensive growth strategies that may help you decide on which to implement in your business.
Here are nine winning examples of intensive growth strategies in business:
- Responsibility Development
- Incentive Program
- Omnichannel Marketing
- Market Penetration
- Product Diversification
- Social Media Marketing
- Diversified Performance Marketing Portfolio
- Product Development Strategy
- Content With Expertise, Authoritativeness, and Trustworthiness (EAT)
Many tasks are performed in the business at the higher structural level they need to because of lack of trust or effort to build the culture of assuming responsibility. I realized that applied to my business. Running a small consultancy, my involvement in projects limited the time I could spend on business growth through expanding the range of services or ramping up sales. Positioning myself as someone who instead equips others with the right tools and systems rather than doing the heavy-lifting myself allowed me to build a more feasible business model. It also enabled people to grow together with the business.
Michael Sena, SENACEA
Growth strategies can come in all shapes and sizes, and what might be effective for your niche, may not be as beneficial to other companies. However, one strategy that seems to be very positive for growth in all areas is creating an incentive program. This can be monetary, a fun reward, or even something that can be shared and experienced by the entire team. Showing appreciation can be the perfect way to build employee loyalty. And at a time with such low retention rates, it’s more important than ever!
Lindsay McCormick, Bite
One aggressive intensive growth strategy that we have implemented at our organization is omnichannel marketing. Omnichannel marketing is highly effective at raising sales revenue and boosting our online sales. We implement this strategy by advertising on a variety of platforms so that customers see us multiple times when browsing the web. This positions us well for a competitive strategy against our competitors and creates brand awareness around our brand to potential customers. Omnichannel marketing is becoming one of the primary ways that business grow their brand and boost sales revenue and we are proud to be an early adopter of this strategy.
Jeremy Gardner, MadeMan
I have used this effective, intensive growth strategy in my company, and it has worked very well for us. This strategy’s aim is to increase sales of existing items or services in existing markets, hence increasing your market share. You can accomplish this by luring clients away from your competition and/or ensuring that your existing customers purchase your products or services more frequently. This might be accomplished by price reductions, increased promotion and distribution support, the acquisition of a competitor in the same market, or minor product enhancements.
Edward Mellett, Wikijob
There are a lot of things that a business can try to achieve intensive growth. However, product diversification is a strategy that will always work for it. The reason is the additional exposure a business gets when it introduces a new product to connect with a new audience and market.
According to most researchers, product diversification is an important intensive growth strategy for businesses in every industry.
Lynda Fairly, NumLooker
Social Media Marketing
One intensive growth strategy that we have implemented in our organization is social media marketing and advertising. We have created an omnichannel marketing strategy that targets various types of social media with our advertisements. A lot of research went into figuring the best types of people to target with these advertisements and we have invested a lot of money in this strategy. This has been one of our biggest pushes of the year so far and we are seeing a great return on our investment. It is driving more leads to our website and spreading awareness around our brand. Social media is a great option for marketing your business and developing an intensive growth strategy for your business.
John Wu, Gryphon Connect
Diversified Performance Marketing Portfolio
One effective growth strategy that we’ve implemented is investing in a diversified performance marketing portfolio for acquisition and retargeting. We went beyond the traditional Google, Facebook, and Instagram social platforms to also advertise on Pinterest, TikTok, and Bing. This successful strategy helped us to reach new customers while limiting our dependency on a single channel for growth.
Hayley Albright, Xena Workwear
Product Development Strategy
Upgrading product development operations proves to be an intelligent strategy that provides a spurt of intensive growth without revamping the existing product lineup or manufacturing process completely. The trick is to put in place a series of solutions that work towards achieving product modifications that help capture a new customer segment or market share. Improving the quality of existing products, developing new products using the same manufacturing tools or minimal upgrades, and customizing products to suit customer needs prove to be ready solutions that can be implemented without hassle.
Krista Haws, Dripped Coffee
Content With Expertise, Authoritativeness, and Trustworthiness (EAT)
Google algorithms LOVE good content. I’ve implemented a focus on upgrading the company content. We constantly check what people are interested in knowing about and delivering quality, actionable content that has good EAT (an SEO term for Expertise, Authoritativeness, and Trustworthiness).
Creating content with decent EAT means greater loyalty and investment in your products and services.
This growth strategy has proven itself to be powerful. KPIs are going up!
Jennifer Pieniazek, Resume Now