The ability to grow your business without limits is called scalability. In the traditional bricks and mortar business, this usually meant more staff, more physical resources, and expansion via geographic, physical expansion.
Here are some ways to grow your business without investing in bricks and mortar or more people and infrastructure.
1. Viral online marketing
One modern marketing process that makes scalability possible is viral marketing, the use of social networks to quickly and broadly increase brand awareness. Thanks to advances in online media technology, your firm’s marketing message can easily be spread far and wide. Executives in the business should have:
• LinkedIn membership
• Facebook page
These will be the platforms for “spreading the word.”
A number of firms now upload interviews and podcasts on subjects that can position them as “subject matter experts”. Online videos and viral e-mail can be picked up and sent around the world, often within a matter of minutes if the content is evocative. Viewers will pass on to others if the content is useful, entertaining or informative.
2. Email newsletter marketing
The newsletter should not be an excuse to release the latest boring product releases – rather they should have information that is useful to the recipient. For example, in the areas of financial services, for example, there are few things more concerning than building a nest egg for the future, so current thought “leadership” here is an imperative. A newsletter which reflects this will have its own response to the clients but more importantly, if it works for them they will invariably flick it to a friend or colleague. That means, potentially, a new client. Read deepening customer relationships
3. Online offers to grow your business
Forward-thinking entrepreneurs today offer top-quality e-books through their website so that visitors will willingly pick up a marketing message and pass it on to others. These free materials contain hyperlinks that will draw more prospects to your website. The e-books can have subjects that extend behinds the immediate professional’s services.
For example, a financial planner may offer a book on the challenges facing migrants and in that book reveal how a financial planner fits into the picture. The audience picking up the book can be an entirely new source of clients that would otherwise not have come across the services of the firm.
4. Delegate and give power to young professionals.
It is one of the key platforms in growing a business: delegate responsibility; free yourself up for more strategic time and at the same time give a younger professional more responsibility. Including the capacity to source clients. Here there is a role for coaching. No matter how thorough you’re training process or how engaging your workplace, younger professionals are often overwhelmed. You can ease the way by assigning an experienced coach.