Effective Ways In Which A New Business Can Accelerate Its Growth

So, you’ve started a new business? Great! Things surely look fine as of now, but have you thought,” How am I going to ensure that all my marketing and media activity hits the bottom line?” If yes, you’re on the right track. Let’s get started!

For a business owner with the primary focus on short to medium term growth, marketing possibilities are endless, but then again, you have limited time and product promotion is only a small facet of everything else that needs to be managed.

The point of ingress for many businesses happens to be paid search and social media. The industry giants such as Google and Facebook have democratised advertising for small and medium-sized enterprises (SMEs). There are no barriers when it comes to entry, the costs for the start-up are minimal, and sales can be measured for real. However, if a new business wishes to achieve the level that attracts the interest of external investors, they need to disrupt established players and existing industries.

So then, the question here is, how can a new business bag significant sales growth in an established category or create a strong consumer appetite for a completely new category of products/ services?

Now, we all are well-aware of the fact that organic reach can deliver the foundation of all sales activity but, true scale can’t be achieved through digital activity alone since it targets people who are already familiar with the brand and understand the product. There are certain marketing fundamentals that need to be considered in order to achieve accelerated growth. Let us look at them in a detailed manner to understand them better.

Filling the funnel
While there may be an initial need for a product, as a business begins to scale, the digital cost per acquisition (CPA) activity won’t continue to deliver systematic results without investing in brand activity. This holds to be especially true for disruptor brands with new products since consumers happen to have a limited understanding of how they will be benefited as per their current lifestyle from these products.

Upcoming brands should consider making investments in channels that provide a larger creative canvas in order to give the brand the required time and space to communicate this message effectively.

Approach to testing
Unexpected channels can often accelerate sales, but it is equally important that the investment made in testing a new channel is decent enough to cut through and provide meaningful results. Investing less under the banner of testing can in fact cost more than it delivers in terms of insufficient impact and time.

By ensuring that media is invested in correctly to glean enough data to optimise properly and build frequency amongst the target audience, a brand will build the foundations on which it can then develop a successful advertising strategy.

Search Engine Optimization
If SEO is implemented in the right manner, it can increase both the volume of organic traffic to your website and the effectiveness of your pay per click (PPC) budget considerably (more than 20% each year).

When planning your SEO strategy, there are three main factors to consider:

• Accessibility (technical structure)
• Relevancy (website content)
• Authority (backlinks).

Out of these three, authority happens to be both- the most difficult to get right and the most important factor. While planning the Influencer activity and PR, a company must also understand and identify the keywords that drive distribution of the content created and therefore, maximize traffic.

Although traditional social networks like Facebook and Instagram are great for reach, they don’t impact SEO in any way, therefore, any content delivered across these platforms needs to be repatriated across more permanent locations, such as blogs.

Right now, is an incredibly exciting time to be in the industry. However, entrepreneurs need to design their runway carefully so as to ensure that all marketing investment gets their brand maximum acceleration. Deciding when to bring in specialist knowledge is extremely important. The correct partners will ensure that your marketing activity turns into a valuable investment, not just a mere cost centre.

Always try to ensure that everything you are doing both- builds the brand’s long-term ambitions and accelerates your sales.