We all know this: Growth is very important for a business to survive.
You may know how to deal with clients and close deals. But if you don’t know how to maintain the growth, your business will soon be just a name in history.
When a company struggles with growth, it gives its competitors a chance to pitch their customers by providing them with more advanced services and products.
Especially in the year 2021, where the whole world is going through a pandemic, companies are looking at just one opportunity to capture your client share.
In light of this, we have outlined our top Growth Trends required to survive in these tough times.
Going Digital in ALL possible Departments
There are new technologies being developed daily and businesses all over the world are greatly adapting to this digital revolution. Looking at the growing pace of this digital transformation, you can’t afford to be left out.
The digital world has several technologies for helping your business with efficiency and other operations. B2B companies in huge numbers are using the Cloud-based tools and SaaS powered systems to seamlessly carry out business operations.
In order to grow your business in 2021, you have to accept internet-based technology with open hands. Here are a few tactics you can use to flourish in the market:
- We are living in times of social distancing. But it is important to maintain a sense of human element amidst your team. Using business apps like Skype, Google Meet, or Webex Teams can help you conduct regular team meetings, manage sick leaves, record overtime data, and even have private communication with your team individually.
- Artificial intelligence can also help you manage your accounting and finance. Predicting revenue, comparing historical performance will be made easier digitally.
- Use CRM software to take care of your leads. Also, send scheduled and follow-up emails to your clients.
- Based on the purchase history stored in your CRM, send personalized emails with exclusive offers to your leads to make the most of email marketing.
Unparalleled Customer Service with a Personalized Experience
Not only B2B companies are largely employing cost-cutting techniques this year, but the customers also have less surplus money at hand. They are buying only what is necessary.
Not only that, but the customer’s buying habits have also been ghastly changed due to the horrific pandemic. They are buying what seems personal to them. In such a case, personalization has become very important. Not only does it give you a chance to connect to the customers at a deeper level, but it also makes them feel like an individual rather than “just a buyer”.
Companies are advised to reengineer their customer service like never before and give customers ample reasons to stay.
Listed down are a few tactics you can use to give unparalleled customer service to your customers:
- Keep a record of the customer’s purchase history. Send personalized invites with exclusive information and offers to every individual customer.
- Answer customer queries as soon as possible.
- Let the customers decide the kind of communication they want to share with you along with the timing.
- Based on the buyer’s past purchase history, suggest recommendations of products and services based on their interests.
- Make the refund and cancellation policies flexible.
Online Events and Meetings
Valuable data and key performance goals are achieved through business meetings. Covid-19 has forced everyone to stay inside their homes, hosting online community meetings and corporate events have become essential.
Without proper communication, organizations fail to have direction and focus. Online community meetings can become a great tool when the employees of your company reside in different parts of the city.
Hosting Online Community Meetings and Corporate Events can help you create a bridge of communication between you and your other community members. This pandemic if not dealt with well can create distance among your community members which will greatly impact your business which can only be remedied with well-thought online corporate events.
Analytical and data-driven decision making
Until now most of the business decisions are made on ideas and instincts. But not anymore. Going forward, it will be replaced by data and analytics.
Brainstorm ideas in team meetings and encourage growth optimized tactics but don’t blindly implement them. In these tough times, another failure can take a major hit on your business.
So instead of making momentarily decisions based on opinions and viewpoints, rely your decisions on solid, trackable data. This data can be best sourced via Customer Feedback.
Go through the data from Customer Feedback forms and analyze it. Know the reason for the cancellations as well as the confirmation of the deal. Use the data and check where your product or service is lacking and what can be improved. Clear away the confusion and work on the concern.
Sales and Marketing alignment or Employing RevOps strategy
Sales and Marketing Teams operating in isolation can cause a setback to your business growth. Thus, a well-crafted RevOps or Revenue Operations Strategy is the only way ahead if you want to achieve the unimaginable.
Sales and Marketing teams have a long history of argument on lead quality. But an aligned marketing and sales team can help you generate high quality leads in doubled up numbers.
Quality leads can be generated when the Sales team inform the marketing team about the leads that can benefit them. The marketing team then can ignore the low-quality leads and attract the hot leads with the right pitch.
This will directly affect the Sales. The Sales Team will no longer chase the low-quality leads and focus their time on converting high quality leads into loyal customers.
If you want to keep your place safe, you need to employ new growth strategies and this think-piece can be your starting point. While we all gear up for a new year, remember, you want to stay ahead of your competition to leave a lasting impression in the industry. And, if you are still unable to crack the growth code, don’t be afraid to reach out to expert B2B sales and marketing consulting firms. They will help you craft personalized growth hacks conferring to their years of experience.