Does your company need marketing help even if it is actively growing?
In our experience, many actively growing businesses on the move to $1+M revenue mark are (obviously!) doing a lot of things right, but can get caught up in a transitional stage of their marketing efforts that can lead to missed opportunities.
On one hand, because there’s growth happening, one may assume that they’re working to their maximum potential. But one thing that should not be overlooked is that the company’s marketing department may now be reaching its threshold of expertise to confidently make decisions and keep the momentum going.
When businesses grow, one of the most powerful strategies they can utilize is to simplify and strip down aspects of their marketing system to ensure they’re staying agile and not just fixing problems as they come up. When it comes to further reinforcing growth through marketing, there are 3 components most businesses should focus on:
Driving Traffic & Creating Awareness
- How do you consistently and effectively build an audience by delivering value and drive traffic to your conversion funnel?
- Do you use one main channel for driving leads, or multiple ones? How effective are they?
- Do you have a plan in the eventuality that your main lead source dries up?
New leads are the key input for growing your business and maintaining that growth. Increasing the number of leads or improving the quality of your average lead should be a goal for all companies, regardless of size.
Optimizing for Conversions
- When someone arrives at your website or actual business location, how effective is your system at converting first time visitors?
- And, failing conversion, how well are you set up to capture visitor information to increase the potential that person will become a customer in time?
This metric really comes down to the effectiveness of your message — the customer has come to you, now it’s your turn to convince them they need your product or service.
If revenues are stable or growing, you’re probably not actively thinking about tweaking your site to increase conversions, but this can be one of the quickest and most effective ways to boost ROI from your existing traffic.
Turning Data into Actions
- What’s in your analysis toolkit to turn data into action?
- Do you regularly go to your site analytics to answer performance-related questions?
- Do you have a system in place with variables that can be tested to continually improve campaign performance?
When growing companies are short on time, data analytics is usually one of the first things that gets put on the backburner. But businesses should be spending more time on analytics, not less, if they want to fine tune their marketing system for optimal growth.
If you’re a part of a company that is actively growing, but you suspect you can overhaul your marketing system to attain even more growth, contact us to discuss!