Don’t Get Caught Up Waiting To Use Growth Strategy Tools To Position Your Business For Scalability At Speed.
Over the last two decades, advances in digital growth technologies have created new possibilities for businesses to scale up. Business growth strategy tools have a huge role to play. Fast-growing young entrepreneurial firms such as Google, Facebook, eBay and Alibaba hold dominant competitive positions and have market capitalizations of tens to hundreds of billions of dollars.
Despite these notable examples, our understanding of scale and scalability is underdeveloped and over-influenced by the presence of cost advantages achieved through economies of scale in production and distribution.
Furthermore, analyses of such business models that have enabled such growth become scattered across economic, organizational and technology management literature. Sometimes this can result in missed opportunities. Business growth is not just a signifier of success but can be a planned outcome.
A consequence of designing business models in such a way to enable large scale should be thought through carefully. For example, while Google’s technological innovation lies in addressing scalability in web searching, it is the design of their business model that has enabled them to achieve immense scale.
Customer engagement and scalability
Your business model configurations and customer engagement element concern the value of your firms’ proposition to its customers. It can require you to take a customer perspective to identify their needs more accurately and the quality of the value they experience.
It also often involves taking decisions as to the degree of customization involved in your value proposition. As the more diverse or heterogeneous your customers’ needs and tastes are, the less scalable your business model could be.
Especially if product conditions for their specific requirements need addressing, at one extreme is your bespoke service or product, created in a project style around your particular customers’ needs and wants. The opposite is the ability to scale your business at speed and take on more clients when required.
6 Growth Strategy Tools To Scale Your Business
Chatbots are self-help growth strategy tools for improving communications. Brands can use them to enhance their customer’s experience, generate more sales and build a deeper rapport with customers. They also allow customer interaction with your brand through stimulating conversations. Chatbots include competent communicators and make clients satisfied through their information. The chatbot or bot is the best way of doing the same job in less time with less workforce. It is a new concept; the method of solving everyday challenges is very impressive.
By utilizing and installing a CRM system, you can store and manage your customers’ data more efficiently. A CRM system can help increase your company’s lead volumes, allowing your marketing team to find new customers faster. It supports your sales teams in closing more sales quickly. It also enhances your and their customer service experience.
Trello is primarily a project management software customized for basic CRM functionality using its Kanban interface, custom fields, calendar, and Google Drive integrations. It allows for businesses with simple sales processes to use Trello to save money on CRM software.
ERP (Enterprise Resource Planning) System
An ERP system enables businesses to identify waste, eliminate inefficiencies, improve customer relations and facilitate real-time collaboration. ERP systems allow companies to have greater insight and visibility into their supply chain operations.
Inventory Management System
Inventory management saves you money and allows you to fulfill your customers’ needs. In other words, it enables successful cost control of operations. Knowing what you have, what is in your warehouse, and how to manage the supply chain properly is the backbone of your business. It optimizes the entire spectrum from order placement with your vendor to order delivery to your customer, mapping the complete journey of a product.
Email automation is the ability to send time or action-triggered emails to subscribers with relevant information. Automation is helpful for a variety of marketing purposes.
With email automation tools, you don’t have to miss another opportunity to generate leads, sales, and revenue again.
Here are just some of the benefits of email automation workflows:
- It becomes automatic and doesn’t require intervention.
- Leads are nurtured to make them more receptive.
- Provides benefits for your sales team.
- Becomes more relevant to the email recipient.
- It can increase brand awareness.
- Provides better personalization for prospects.
- It’s a carefully planned email strategy.
Social Media Automation
Social media automation can lead to increased growth faster, particularly for businesses with multiple accounts. Automation helps to achieve consistency in your social media marketing efforts.
It gives you greater control over the content you share and how you share it. It enables you to save time, which you can then use to grow your business successfully.
There are many more scalable businesses growth tools for you to consider for your needs. Be sure to investigate and do your due diligence on what can best support your business industry.
It is now over to you to make the right decisions for your business. Good Luck in your challenges, reach for the stars and fall among the clouds, and you will be doing just fine. BB 😁