There are many ways to try and grow your business. Most traditional strategies take a while to have a desired impact. Unless you are a major conglomerate or a company that has a ton of cash, you cannot invest in commercials and you cannot hire celebrities as your brand ambassadors. You have to rely on less effective mediums. The lack of financial strength doesn’t imply that you have to experience stunted growth. You can easily enjoy exponential growth using a few smart hacks. Here are some of the most effective growth hacks to increase sales.
1) It’s No Secret That Referral Strategies Are Always Effective.
The extent to which you generate new leads or customers will vary. You should think of ways to spice up the referral program. Companies offer a referral bonus to its employees if a referred candidate gets the job and sticks around for a while. Companies offer rewards or some kind of bonus to customers who would refer others. There are various kinds of such referral programs. A new twist to the tale is a two-way referral bonus or reward system. Such a system allows both the referrer and the referred to get benefited. Many cab companies that are primarily apps connecting the people to a network of cabs operating in an area allow the referrer to earn a free ride or a discount and they also allow the new customer who is the referred one here to get a free ride or a discount on the first ride. This is to just encourage people to refer and the referred people to make the most of the offer. It is not necessary that every referral would work out as a lead or sale. Such two-way referral bonus schemes help in conversion and thus sales.
2) Retargeting or Remarketing Should Be One of the Core Practices of a Company.
We often target an audience or try to market a product in a certain way and forget about them over a period of time. We are often focused on the leads or customers. We need to focus on those people who have been targeted once or had expressed some kind of interest once. Retargeting or remarketing is more effective and also easier, cheaper and surefire compared to cold marketing.
4) You Should Target Audience on Established Platforms.
Every industry has its share of websites or forums that influence public opinion and offer a platform for businesses to reach out to their specific audiences. You must find these sites relevant to your business and use them.