Growing your business comes with its aches and pains, but the process can be much smoother if you use some surefire tactics that can bring in a better return of investment on your road to expansion. Here are some moves you should be making if you’re looking at branching out:
Hire the big guns
This step is especially useful if you’re looking to tap into new markets or starting a launch for a new campaign, new products, or integrated services. For such endeavors, don’t shy away from adding new leaders into your roster.
For instance, getting a CMO’s financial services or even marketing can help you tap into more partnerships and get a better footing in the market. If you aren’t keen on taking the risk on time and resources that will go into adding a full-time member, fractional CMOs and similar positions are out there who can cater to your company’s needs during a specific period. Doing this can give you an expert hand in leading your market analysis and strategy without a long-term commitment.
While that sounds like it has its own risks, it can allow you to delegate efficiently as your interim officer will be able to focus solely on the project they will be leading. Once they have it all mapped out, you can figure out whether to continue the partnership down the pipeline in terms of execution and operations.
Tap into influencers
Influencer marketing has become one of the most significant avenues for companies trying to reach a wider audience. As long as you know which platform suits your brand the best and who to tap to reach your core demographic and even introduce you to a new audience, this tactic can bring in a lot of traffic for your online presence.
A recent survey has shown that 89% of marketers have found influencer marketing effective with its ROI, on par or even better than other channels. The data has shown that as this method grows in popularity, many consumers still look onto selected influencers when making their purchase choices. Effectively using influencers’ platforms translates not only to a broader reach and brand recognition but actual sales and engagement with services.
Create a purchase funnel
Dedicating the time to analyze and thoughtfully create a purchasing or sales funnel can help you more effectively control how your consumers interact with your brand. It works both through online and physical platforms that carry your products or services.
While you likely have brand practices and business plans at this point, you may not have pinpointed the exact nuances in your consumer’s journey from checking something out to getting it to check-out. That can make it that much easier to capture casual consumers’ attention and also increase returns for loyal ones.
Get into what brings people to your site and what prods them to continue the process. From there, you can optimize it to capture your desired market better.
By implementing these tactics effectively, you can hit your goals for a wider audience with a more definite plan and execution that you can monitor.