Almaz

Dec 12, 2024

Grow Business Strategy - 5 Tips From Experts

Over 70% of startups fail in their first five years, so having a foundational grow business strategy is essential to scaling your idea to success. 

I’ve been there. Before starting Skiie.org, I'd found an online fashion store, but being young and full of youthful exuberance then, I hadn’t considered the stakes and unique limitations. I was only inspired by the prospect of growth, but instead of growth, I gave up in the first 3 months. 

I failed because I was new to digital businesses. In my quest to gain knowledge, I delved into digital marketing and SEO. It soon became my profession, and I’ve worked with several startups and small businesses, helping them scale from their initial low performances to making six figures. 

That’s the difference between “passion” and “knowing and applying the rules.”

In this guide, I will teach you some foundational rules to make your passion a profitable venture. I will teach you how we help businesses scale at Skiie.org. 

Key takeaways:

• Basics of Growth: The foundational elements of a growth strategy are timing, location, and execution. Launching products at the right time and place ensures a higher chance of market penetration.
• Execution Matters: Successful execution involves innovation, adaptability, and clear focus. Facebook’s triumph over MySpace highlights the importance of evolving and staying aligned with your vision.
• Social Media Presence: Building a dominant presence on social media platforms, especially for younger audiences, is crucial for brand visibility and customer engagement.
• Local SEO: Optimizing for local searches can significantly boost both online engagement and physical foot traffic, ensuring your business appears in relevant local searches.
• Community Involvement: Participating in community and social responsibility initiatives enhances your brand's goodwill, attracts ethically-minded customers, and fosters loyalty.
• Content and Feedback: Providing valuable content establishes credibility while implementing feedback loops helps refine offerings and build long-term customer loyalty.

The basics of business growth

Do you know why startups failed?

Let me pause for you to do some thinking…

Done thinking? I’m guessing your response will include some or all of the following:

• Low cash.
• Lack of product-market fit.
• Poor marketing. 
• Poor management.
• No straightforward/clear business model. 
• Failing to adapt to changes. 
• Lack of focus. 

If these are your responses, give yourself a cookie—you’re right. But that’s not the basics.

The basics of an effective grow business strategy have 2 elements:

• Location and time.
• Execution.

a. Location and time

There are several classifications of products and services. But for the scope of this write-up, I will classify a business offering into the following five categories:

Notice that every product and service, regardless of whether they have an expiry date, whether they are essential, or whether they are evergreen, has a period during which it is most in demand or a location where it best serves. 

This is why the time and location of a product/service's launch are essential for its success. If you launch a product at its peak demand period, you have a higher chance of penetrating the market than if you launch it when the market is saturated. Similarly, businesses closer to their customers have a better chance of understanding and attracting them.

However, not every product and service follows a specific demand pattern. Examples are digital concepts like the good old Facebook, Snapchat, Airbnb, etc. Yet, time is still essential when launching such a product/service. There is a great chance that your audience is not familiar with your offerings, hence the importance of launching when there is an established foundation—the right time. 

If you launch a product or service before the concept fully catches on with your target audience, you will need to spend more money sensitizing them. Without sufficient funding, such a product is bound to fail. This leads us to the second basic grow business strategy: “execution.”

b. Execution

To understand execution, I will continue from the idea of launching an unfamiliar digital concept at the right time. 

Before Facebook, there was a popular social media platform called “MySpace.” Despite its initial success, MySpace couldn’t compete for long due to its poor execution. 

The timing was right. Building upon the success of earlier platforms like Friendster and SixDegrees, MySpace was launched at a time when the internet was already familiar with the “social media” concept. But despite having the “Developmental” advantage, Facebook came and took the crown. 

What did Facebook do differently?

While Facebook’s approach is primarily objective, here is a breakdown that you can apply to your own grow business strategy:

• Innovation: Facebook didn’t just build a different version of what’s already working—-MySpace. Instead, they took a different approach. 
• A willingness to adapt: Facebook isn't stagnant. It is always adding new features, testing and iterating until it finds what works. So, even though its innovative approach is risky, its willingness to adapt and adjust significantly reduces that risk. 
• A clear focus: Despite the unending activities, Facebook has a clear vision. This is their guiding principle, which ensures they don’t get carried away. Remember, losing business focus can result in losing touch with your audience. 

That’s what execution is all about—having the right knowledge, ability, and, most importantly, attitude towards growing your business. 

The truth is, there is no rigid blueprint for what makes a business successful. Every business is as unique as its management and location. While there are established strategies that work, understanding the basics is essential to utilizing them efficiently. 

The basics are location and Time, followed by Execution. Once you have a solid understanding of these concepts, you can identify what works for your business and implement it. As a digital marketer, I’ve got some tips you might find helpful below. 

My top 5 strategies for business growth

Building a successful business requires a well-rounded approach. Essentially, this is the digital age. Regardless of the type of business you’re running, you need a presence on the internet if you are serious about growth. 

With that in mind, I recommend that you do the following:

• Build a dominating social media presence. 
• Do local SEO. 
• Leverage networks and trusts.
• Contribute to social and community activities.
• Offer valuable insights and content.

Here is a breakdown of each recommendation:

1. Build a dominating social media presence

While search engines have been the dominant player in digital marketing, social media channels are increasingly becoming a dominant search alternative. I recently published an article on the 3 top digital marketing trends to look out for in 2025. I highlighted how Gen Zers and millennials are favoring social media searches over traditional searches.

If you offer products or services to these “social media” generations, you should consider having a dominating presence on social media as part of your growth strategy. 

• Engage your audience on the platforms where your target customers are. 
• Share useful content, reply to comments and messages, and create a community feel.
• Turn happy customers into brand ambassadors. Encourage them to share their good experiences and stories. 
• Use social media marketing to your advantage. Run contests, offer special deals, and work with influencers. 

This approach helps you reach more people and boost your brand's visibility. Another grow business strategy you should consider is doing local SEO.

2. Do local SEO

Incorporating local SEO into your business growth strategy is another effective approach. SEO, or Search Engine Optimization, is the practice of enhancing your online content to increase its visibility in search engine results. 

Local SEO focuses on optimizing your online presence to attract more business from relevant local searches. As search engines evolve, local SEO becomes crucial for businesses aiming to connect with nearby customers. By optimizing your website for local search, you can ensure that your business appears when users search for products or services in their area. 

This targeted visibility can drive more foot traffic to your physical location and increase online engagement, ultimately contributing to your overall growth strategy. To learn more about local SEO and how you can do it for your business, reach out to us at Skiie.org.

3. Leverage networks and trusts

Strategic partnerships can help you grow your business and reach new markets. Look for businesses that offer products or services that complement yours, including a potential new product focus. Consider working together through cross-promotions, joint ventures, or affiliate marketing.

Building trust is very important for any business. Working with well-known brands can give your business more credibility. By sharing resources, networks, and customers, both companies can grow together and reach more people in the market.

4. Contribute to social and community activities

Getting involved in social responsibility projects and helping local communities is a grow business strategy that can boost your brand's visibility and build goodwill. You can take part in or support local events, fundraising activities, or charity drives that match your brand's values.

Showing social responsibility helps both the community and your business. Many customers are attracted to brands that act ethically and care about making a good impact.

This way of thinking improves your brand image and helps you give back to the community. This builds loyalty with customers who value your efforts and the principles you stand for.

5. Offer valuable insights and content

Content marketing is a great way to connect with your target audience. It helps you show that you know what you are talking about and can boost your sales. You need a website to publish content. If you don’t have one already, our web developers can help you—contact us to inquire.

You should create good-quality blog posts, articles, videos, infographics, or other types of content. This content should offer valuable insights, answer popular customer questions, or fix important issues.

Making engaging content helps grab the attention of the people you want to reach. It also shows that your brand is a trustworthy source of information in your industry. This can increase website visits, create loyalty to your brand, and bring in more customers. By always giving value through your content, you can gain the trust of your audience and become a go-to resource in your field.

You should consider each strategy, identify what will work best for your business, and implement them. With consistent efforts, you should start seeing results. Before we round up, I will share some tips on getting the most from your digital marketing efforts and sustaining your growth.

How to get the most out of your digital marketing efforts

Effective digital marketing is more than just being online. It involves constantly optimizing, analyzing, and improving your grow business strategy. You should check your digital marketing strategies regularly, look at how they perform, and make changes to boost customer retention, improve SEO rankings, and get the best return on your investment.

Keep in mind that the digital world changes constantly. It's important to stay up-to-date with new trends and updates to remain competitive. Here is how you can do that:

• Analyze and adjust your strategies in real time.
• Understand SEO and its impact on your business.

a. Analyze and adjust your strategies in real-time

One big advantage of digital marketing is that you can track and study how well your campaigns are doing in real-time. Use tools like Google Analytics to keep an eye on important numbers, find areas to improve, and quickly change your marketing strategies.

This way of using data gives you more flexibility and better responses than old marketing methods. If a campaign is not working well, you can easily adjust your messaging, target audience, or how much budget you use to make it better. By making choices based on data, you can make sure your marketing efforts are getting the results you want and getting the most out of your investment.

Another strategy to get the most out of your digital marketing effort is to understand and implement search engine optimization (SEO) concepts.

b. Understand SEO and its impact on your business

Search engine optimization (SEO) plays a pivotal role in enhancing your online visibility and driving organic growth. When potential customers search for phrases (keywords) related to your business or products, you want your website to appear among the top results.

Optimizing your website for search engines involves various factors, from keyword research and on-page optimization to building high-quality backlinks and ensuring mobile-friendliness. The following table provides a quick understanding of key areas within SEO:

While SEO typically takes time and consistent efforts, in the long run, it can serve as a lifeline for your business. It is a great way to consistently get leads without paying additional money on advertising. If you need help planning SEO for your business, contact us at Skiie.org.  

Once you start seeing results from your grow business strategy, you want to ensure this growth is sustainable. I will conclude this article with some tips on sustaining your business growth. 

How to sustain your growth and build a loyal customer base

Sustained growth depends on getting new customers and keeping your current ones. It is important to encourage customer loyalty. To do this, provide excellent customer service that enhances customer satisfaction. Make each interaction personal and work on creating a positive brand experience. This will help customers come back to buy again and build strong, lasting relationships.

Loyal customers are very important. They can become supporters of your brand. They often tell friends and family about your products or services. This creates organic growth through word-of-mouth marketing.

Consider the following strategies for business growth to get loyal customers for your business:

• Implement a feedback loop.
• Create a referral system to encourage word-of-mouth.

a. Implement a feedback loop

In today's market, it's very important to seek and use feedback from customers to enhance the overall customer experience and reach a new audience. This helps keep them satisfied and improves your business. Offer easy ways for customers to share their thoughts, like online surveys, feedback forms, or social media interactions.

Make sure to check this feedback often. Look for common trends. Fix any issues and spot chances to enhance your products or services. When you show that you care about customer feedback and want to improve, you create trust. This helps to build loyalty among your customer base.

b. Create a referral system to encourage word-of-mouth

Developing a referral system is an excellent way to reward your current customers for bringing in new ones. Consider offering discounts, exclusive benefits, or other incentives for successful referrals. Word-of-mouth marketing is one of the most powerful forms of advertising because happy and loyal customers can significantly influence others.

Personal recommendations are highly trusted and often lead to more sales than traditional marketing strategies. By encouraging referrals, you can quickly expand your customer base and foster a community of satisfied customers who actively promote your brand.

Frequently Asked Questions

What are business growth strategies?

According to Gartner.com, a business growth strategy is 'an organization's plan for overcoming current and future challenges to realize its goals for expansion.' These effective growth strategies may include having a clear growth strategy for increasing market share and revenue, acquiring assets, and enhancing the organization's products or services.

What are the 4 growth strategies?

Ansoff identifies four key strategies for business growth: 

• Market penetration
• Product development
• Market development
• Diversification.

How do you strategically grow a business?

Depending on the type of company you're building, your strategy to grow the business might involve various elements, such as adding new locations, investing in customer acquisition, exploring franchising opportunities, market expansion through expanding product lines, and selling products online across multiple platforms. Successful companies often use similar strategies to drive growth and achieve their business goals.

What are the 4 stages of business growth?

Hartford's Business Owner's Playbook highlights that each stage in a business's life cycle presents unique challenges that must be creatively addressed. One model outlines the four stages of business growth:

• Startup
• Growth
• Maturity
• Renewal/decline.