5 unorthodox ways to make your business grow
5 unorthodox ways to make your business grow
5 UNORTHODOX WAYS TO MAKE YOUR BUSINESS GROW
Have u ever wondered why most businesses today are what they are, in terms of growth or stagnancy? The answer to this is simply because the latter is not doing what the former is. Businesses are comparable with two children who were born about the same time but with different physique. While one is well nourished, the other is malnourished. The most obvious reason for this is that one is taking the right nutrients in the right environment while other is not.
Therefore, if you must grow your business in this competitive world, then here are some of the unorthodox ways by which you can make it grow.
1. Speak for your consumers
Generally, people are happy and relieved when they see decisions being taken on their behalf. Therefore, consumers are looking for that person who knows exactly what they want without having to utter much word. You can ensure this by observing the trend at which people are responding to a present product (yours or your competitor's). If the response is great, then you can beat consumer's imagination by further upgrading and differentiating this product. A good scenario that can be cited in this regard is the case of Cowbell and Peak milk in Nigeria. When Cowbell brought out its product for a unit price at about $0.01, Peak which sold its own product for $1 was laughing at Cowbell forgetting that majority of the populace live below $1 in a day and therefore, could afford Cowbell. Analysis further revealed that Cowbell sold to an average of 3million consumers of its product in a day. Today, Peak also have a product about that price.
2. Make use of Social Networks and Local media
You may think that this is a conventional way but I tell you that not so many business owners are utilizing these channels appropriately. By answering questions, engaging in topic-related chats, offering free seminars and consultations, display of your product and your eshop, joining forum, posting topical comments on these spaces go a long way in the marketability of your product.
3. Break up your business into compartmentalized smaller units
Students of marketing will say that one the various ways you can outwit your strong competitors is by differentiating your product whether lateral, line, and so on. This action will allow for you, greater and wider coverage to consumers, easy monitoring of product units, better and more qualitative product, reduction in cost price.
4. Build Partnerships, mergers, alliance
To avoid a case whereby the larger companies will make your products obscure in the market or to even outsmart other competitors, it is necessary you join forces with greater companies in the same or related line of product. This also serves as a form of publicity for your product. An example of this is the case of Google and Nokia in order to fight another company in the same market.
5. Become obsessed with your customers
In marketing, there is an analysis on the significance of making a prospect an advocate of one's product. This you ensure by constantly getting in touch and even maintaining personal relationship with your clients.
These are 5 unorthodox ways to make your business grow. However, the lists are just to serve as guide as there are so many others you can use.
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