How can you know what to focus on in your business in order to produce the greatest new growth?
It can be hard to decide where to invest your limited resources with so many options available to you. As a result, we easily end up overwhelmed, spread too thin, or focused on the wrong areas.
The best way to make your growth strategy clearer, more focused, and more effective is to first realize that there are only three ways to grow your revenue and deliver greater value to your audience: attract more leads, convert more leads, or boost lifetime customer value.
There is a myriad of tactics and strategies you can adopt, but all of them fall into one of these three areas. It’s important to first know which of these three is most important at a given moment based on the stage your business is in and your current goals.
Let’s take a closer look at these three areas and when it’s best to prioritize each one.
1) Attract More Leads
Typically this means building your email list of prospective customers and loyal audience members.
We often think of branding and visibility for growing our business, but these are only effective if they start people on a customer journey with your brand (i.e. they become a targeted lead). This is the first place to focus on a new business that doesn’t yet have a steady flow of leads.
Attracting more leads consists of launching new content marketing channels, putting into place paid ad campaigns, organic SEO, and PR to name a few. Read more