(Newswire.net — January 12, 2020) — Growth is the number one indicator of success and it is what gives you an upper hand against your customers. Unlike starting a business, growing one is the hardest, yet most important part. It is also very dynamic. Growth strategies that worked five years may be obsolete now. If you want to catch up with the trends, you have no option but to adjust accordingly. To help you, here are 6 business growth strategies that will work in 2020.
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Focus on customer experience
One of the trends that will be huge in marketing this year is customer experience. Forget about mass marketing strategies, heavy budgets, and the constant lookout for new markets. Instead, focus your efforts on your existing customer base. Research has shown that 70% to 95% of subscription-based SaaS companies actually come from upsells and renewals from existing customers. Find ways to make the people you already have better through positive customer experience. Be fast in resolving complaints, answering questions, offering upgrades, and personalizing customer marketing campaigns.
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Take advantage of Google My Business
If you are not yet on the Google My Business platform, now is the time to get listed. Most of your prospects will be lurking around Google Search and Maps to identify nearby companies offering the services and products they are looking for this year. This awesome platform by Google is free, so you have nothing to lose and a lot to gain by adding it to your digital marketing strategy. Be sure to add all the necessary details such as the operating hours, your physical location, contacts, your business photos, and videos.
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Chatbots
Whether you like them or hate them, chatbots are definitely here to stay. If you want better visitor-to-customer conversions, a chatbot will help you a great deal. As a matter of fact, huge brands use chatbots to increase conversion rates by up to 10%. The trick of using a chatbot without annoying customers is through the rule-based chat automation. This strategy directs your visitors to a chatroom rather than a landing page. In the chatroom, the visitor can have a deep conversation with a chatbot and get straightforward answers about the product or service being offered to them.
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Messaging apps
If you are still stuck in using emails to communicate with your customers, 2020 is the year to embrace messaging apps. People these days would rather open a WhatsApp, WeChat, or Viber chat rather than read their emails. Obviously, communication via emails is not going anywhere soon but consider putting effort into messaging chats. Customers find it easier to make a purchase and generally communicate.
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Align your sales and marketing teams
According to studies, aligning the sales and marketing teams can help a company to generate 32% more revenue, retain 36% of existing customers, and overall achieve a win rate of 38% higher. When you align your sales and marketing teams, you smooth their tasks out. This has a ripple effect on the customer.
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Personalization
Personalization has always been huge in the marketing industry. According to Maui Mastermind, 2020 is no exception. Customers are more likely to pay more money if you offer them a more personalization experience. This year, make it your goal to take advantage of this growth strategy. There are so many ways of enhancing personalization. Send your customers exclusive one-to-one products, seek to know their purchase history and suggest new products and services using this information, and give them the freedom to choose the form of communication they prefer.
To survive the competitive world out there, you must seek to grow your business. The strategies outlined are bound to work in 2020 and beyond. Maximize on them and smile all the way to the bank.