Innovation Corner

Permanent link for How to grow sales on April 7, 2023

Entrepreneurs often start out strong with a few hard-won sales, but rather than seeing the growth they expect, their sales often stall.

What strategies will work to grow sales? You have to understand your product and your markets, and improve your customer acquisition channels. You want channels that

  1. offer a high ROI,
  2. fit within your resource constraints,
  3. are already connected to your target customers,
  4. are suitable for the types of relationships you want to build (in particular: your customer's average customer lifetime value), and
  5. are scalable.

Kevin Indig compares some of the possible channels and identifies which work and which don't. His channels are:

  • Ads
  • Affiliate Marketing
  • Content Marketing
  • Email
  • Organic Social
  • Podcasting
  • PR
  • Product Virality
  • Referral Traffic
  • Sales
  • SEO
  • Word of Mouth
  • Youtube

He argues that only ads, product virality, sales, and SEO are scalable. His article is thought-provoking and worth your time.

Categories: management sales
Posted by Thomas Hopper on Permanent link for How to grow sales on April 7, 2023.

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Page last modified April 7, 2023