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8 Ways to Access a Company’s Growth

Published

2 years ago

November 22, 2021

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The growth of a company is vital for the well-being of all stakeholders. Companies need revenue growth to pay their employees and stay competitive in the market. Also, the investors like to invest in companies that can grow their bottom line and provide a return. If companies can’t access growth, they will shut down or be acquired by another company willing to risk.

To access a company’s growth, you need to know how to determine the financial health, what is happening in the market, and how employees are performing. You can not simply rely on your gut instinct or intuition. Your business needs to be immersed in the trends of the day and make decisions accordingly. Companies can access growth in several different ways, like through mergers and acquisitions. This blog post will provide you with the 08 best ways to assess a company’s growth.

Table of Contents

1. Set up Long-Term Goals

When you assess a company’s growth, and it is essential to have long-term goals. Having long-term goals can capture opportunities that might not otherwise arise if you settle for what comes next right now.

While setting up long-term goals, make sure that they are achievable. If you set up goals that aren’t achievable, your business will suffer from a lack of motivation. You want to make sure that employees take action and feel like they are going somewhere with the company.

2. Create a Vision for Growth

The vision is what your business wants to happen to grow as much as possible by year-end. It is your company’s goal for the year. It should be specific and measurable, such as increasing revenue by $500,000 over last year or creating a $50 million product line.

You can’t just set up goals without having the vision to grow. It would help if you had an idea to know what direction to go to achieve the goals. If you have no vision, how will you determine which path to take?

3. Assess Market Trends

You need to understand the market trends before your company can access growth for several reasons. First of all, if your company is in an oversaturated market, you will have a hard time getting new customers. Also, markets saturated with competition tend to be more volatile and less profitable for businesses because of the increased price wars involved.

Ways to Access a Company's Growth - Market Trends

Secondly, knowing the current trends will allow you to get ahead of them so that your business doesn’t fall behind. Your company can be a leader in the market instead of a follower. You don’t want to have your competitors dictate what you do as an organization because they will always react more quickly than you, even if it is just by minutes or seconds.

4. Create a Sales Funnel

When your company is ready for growth, you must ensure that the sales funnel can support it. The first step of this process is to determine from where customers are coming. Also, choose how many customers come in each month or year. You should also know what percentage of these customers become long-term clients who want to purchase products over time instead of just one time.

After determining where customers come from, ensure your business has a reasonable conversion rate to increase revenue and growth potential. The conversion flow will show how many people turn into paying clients after visiting the website or coming in for an initial interview. A low conversion rate means there will be trouble when it comes to increasing revenue and growth potential.

5. Get a Customer Relationship Management (CRM) System

A CRM system will help your business keep track of all of its customers. The opportunities to increase revenue are vast with a CRM system because it makes the process more streamlined and efficient, which every business owner wants for their company.

The only way you can truly determine where your growth potential lies is by having access to information about your clients. It includes data like how much they spent on products or services, whether or not they are long-term customers who want to purchase more over time instead of just once and the conversion rate for your website.

6. Offer Financing Options for Customers

If you want your business to grow, customers must finance the products and services your company offers. If customers can’t afford your products and services, you won’t access growth through them. Financing programs can help your customers afford your products and services. Such programs allow them to pay you over time instead of all at once.

8 Ways to Access a Company's Growth

It is an excellent way to increase revenue, mainly if you sell an expensive product or service that your customers can’t pay for in one lump sum. In some instances, you might need to offer leasing options for your customers as well. It will allow them to pay a monthly rate instead of just buying the product outright and paying it all at once, like with financing. With both types of payment methods, you can increase revenue and bring in more clients over time.

While offering a financing program to your customers, make sure to choose the right one. Numerous financing companies exist to help with this process, so it shouldn’t be difficult for your business to find one if the need arises. You can choose Greensky or Greensky alternatives.

7. Market Your Products or Services

No matter how great your products or services are, nobody will buy them if they know you have something to offer. It would be better to become a marketing strategy for this process because it is the only way to get customers interested in what you do and who you serve.

However, make sure that when creating your marketing plan, you address all of your target audiences. Your business needs to have an online presence for it to grow truly. Social media is the best way to market your products and services in this day and age. It allows you to reach out to people globally with just one post if it goes viral. You can also create a business website, which is a necessity if you want to remain competitive.

8. Establish Loyalty Programs

Another way to access your company’s growth is through loyalty programs. Loyalty programs offer people discounts or incentives for purchasing products on an ongoing basis instead of just one time. Loyalty programs only work if you have a large customer base already.

A loyalty program will help people feel like they are part of something if you implement the correct incentives and rewards for them, which is a great way to increase revenue and grow your business in general.

Business

Benefits of a Handwritten Signature in E-Commerce

So why must you create a handwritten signature online to boost your e-commerce business? Research proves that including your handwritten signature in e-commerce, dealings can have a positive impact on business.

Published

6 days ago

May 23, 2023

TwinzTech

7 Effective Tactics To Boost Ecommerce Sales

Times have evolved significantly, and what could be a better example than the transition into a competitive digital marketplace? Thanks to the rapid growth of e-commerce, gone are the days when merchants had to travel from town to town to conduct business.

Digital growth has allowed businesses to prosper online and in physical stores. Yet, despite the remarkable advancements of digitization, there are still some things that technology cannot beat. For instance, the significance and personal touch of a handwritten signature.

Table of Contents

1. A Handwritten Signature can Boost Your Brand Awareness

The e-commerce landscape has grown remarkably over the past couple of years, along with the rapid growth of technology. But in this competitive landscape, while businesses experienced better sales and greater revenue flows, they have lost their personal brand touch.

The fact is that boosting your online presence in a crowded e-commerce world takes some work. So what can you do to leave a lasting imprint of your brand’s uniqueness on clients online? By adding your handwritten signature, of course!

If there’s one thing that feels utterly personal and unique, it is a person’s handwritten signature. You can use digital technology to transfer your handwritten signature into your business correspondence online. It will help create an effective personal touch and help your clients distinguish you from the rest of the competition.

Just like putting your personal signature on business documents establishes you as a business entity. Similarly, a handwritten signature on business emails would do the same. It would help reflect your identity, brand voice, values, promises, and icons.

2. Personalization Assures Clients of Your Business Legitimacy

Do you know how a rapport is built? Surely you will say when two parties work to build mutual respect. If that’s the answer you gave, you are right. But how does one build a good rapport with their clients online?

Connecting and adding personal touches to correspondence to help foster trust and mutual respect. Believe us when we say a handwritten signature in an online correspondence makes clients feel respected and honored.

It helps the clients see your efforts in building a rapport with them and encourages them to do the same. Even from an advertising point of view, surely you’ll agree that maintaining a client is more cost-efficient than recruiting new ones.

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Numerous apps and software available online help add handwritten signatures digitally to business correspondence online. Not just your name, but these apps make it possible to include your handwritten signature in your emails in a digital form.

All you need to do is invest in a signature-generating tool and transform your handwritten signature into your desired digital format. Then, all you have to do is add it to your emails of business correspondence to make clients and customers feel appreciated.

Any business owner who tries to equip their emails and client-facing letter with their signature and name in the introduction makes their business communication feel personal.

3. Better Response Rates

Have your response rates been lagging lately? Well, you can fix that problem by adding your handwritten signature to business communication. It has proven to amplify response rates significantly since it convinces recipients of the realness of the person behind the correspondence.

Moreover, a handwritten signature in business communications improves the message’s credibility. So while your advertising team sets a budget for the volume of print media or emails you send, you can work on including your handwritten signature in those.

Trust us; ads become more profitable and likely to convert leads into worthy clients when you make your message seem personalized. Personalization is a foolproof way to improve response rates, drive conversion and boost business.

One fact that has become obvious over the years is that businesses can seem like robotic conglomerates in e-commerce. And frankly, no matter how compelling it may seem, no one likes engaging with robotic corporations.

E-commerce business owners can simply solve that with their human signature in digital messages. It will encourage clients to respond, but the handwritten signature would assure them they are dealing with real people, not machines.

4. Adds Professionalism and Class to Emails and Business Communication

There’s no denying that handwritten signatures carry infinite charm and class. It also appears very professional when business owners sign on business communication. If you wish for your business correspondence to look professional and classy, here’s what to add:

Your name and company position
Your handwritten signature
Legal disclaimer
Contact information of your company
Brand logo and name

Final Thoughts

E-commerce is a competitive landscape, with businesses of all sizes present on it. In the crowd present online, it can be quite challenging to grab the attention of your target audience and desirable clients.

However, you only need to create a handwritten signature to give your e-commerce presence significant leverage. From a touch of personalization to appearing professional and authoritative, a handwritten signature on online business correspondence can provide many benefits.