The advantage of running a business in the 21st century is the vast resources and past mistakes to learn from.
Founders and C-suite executives can learn from established giants. However, only some stories make it to the book of successes, while others fail.
There is no one-size-fits-all strategy for scaling a business. Only 25% of companies make it to the 15-year mark. The ones that make it to the top have a visibly-upward trend of organic growth.
Most companies with high share prices employ more than one strategy for organic growth. But the real question is how to identify the strategies that are going to boost performance of your business.
In this article, we at Growth Jockey share our expertise in scaling a business organically. Read on ahead for tips by professionals to grow your business.
Digital Marketing emerged as the most popular method of doing business in 2021. With this, organic growth is now associated with Search Engine Optimization than with sales and revenue.
However, it is just as important to remember the basics.
There are two common ways most businesses grow. First is organically, and second is through mergers and acquisitions.
Organic business growth is a company's sustainable and profitable expansion through its means. It is based on developing new businesses through existing customer relationships and acquiring new customers.
An elementary knowledge of the law of demand is enough to understand how one can hack organic growth. The law of demand in economics deals with price and product.
Let's understand how your price and product can affect your organic growth.
The price of products is the top criterion a consumer considers before making a purchase.
The perception of this price could either be positive or negative. It determines the price consumers are willing to pay. Hence, brands must play the price card right.
For your business to achieve growth organically, your price must be appealing and justified. Here are three simple questions to define your pricing:
What does my user persona look like?
What is the current need for my product in the market?
What price is my competitor charging?
These fundamentals will help you regulate your price with the business cycles for better revenue.
SUGAR Cosmetics grew its organic sales from two-digit crores to three-digit crores in 2020. The nine-year-old D2C brand had a USP to offer along with its vision. SUGAR envisions making high-quality beauty accessible to all.
As part of a C-level team, one must know the value their product is offering. In the U.S., 20.4% of businesses that started in 2016 failed in their first year. The most common reasons were the lack of research and business planning.
Researching how your product can add value to the consumer is the first step to establishing a path for growth. Once you have a great product-market fit, you can adjust your offerings.
To avoid dependency on M&A for revenue growth, here's Growth Jockey's take on leveraging product and pricing.
We at Growth Jockey are a dedicated team of experts. We meet with you to understand your product and vision. The next step is to do our due diligence. Using our access to a vast, exclusive database, we analyse your standing.
Our custom report for each company would consist of strategies for the following:
Revenue Growth
Cost Reduction
Faster Execution
With a background in developing an AI-based price recommendations engine, our CEO Ashutosh Kumar scales each client from zero to a hundred.
Investing and diversifying your product portfolio and resources are the fundamental areas to look at. However, companies must address the rise of technology and digital marketing.
After setting the price, product and go-to-market strategy, businesses can focus on their digital marketing strategy. Read on ahead to learn Growth Jockey’s approaches on how to boost performance using organic growth.
Sadly, lesser than 30% of companies carefully evaluate new growth opportunities. Some may come across them and disregard them owing to various reasons.
However, techniques used by leading brands start from a place of data-driven decision-making coupled with gut instincts.
Incorporating the three avenues for growth, i.e., investment, diversification, and optimisation, here are three strategies to consider-
When designing their customer journey, it is common for brands to place content consumption as an end instead of a starting point.
Educational and value-based content makes a consumer 131% more likely to buy products from the brand.
The effect of value-based content is more potent and prolonged. It serves as a trust-builder between the consumer and the brand. When a brand provides free information to help a customer, it helps establish a sense of selflessness.
Without directly pushing your sales or posting content only about the brand, customers find a reason to buy from you.
73% of respondents in a survey by AHREFS conveyed that they prefer learning about a brand through video content. As a result, new and old brands are leveraging their social media and Amazon+ video content to convey their unique selling proposition.
The content on search engines is an echo chamber today. Standing out by offering well-researched educational resources is a game-changer for many, including Growth Jockey.
Going agile for organic growth may sound like two things that are rarely seen together. However, an agile method of operations results in your best organic traffic.
The agile, no-waste practices followed in the backend processes result in the website’s traffic. 53% of all website traffic comes from a search made organically. Converting this number to 100 requires better SEO practices.
Following are some points to check and ensure your SEO practices are agile:
Define the metrics to measure growth
Allocate more budget to optimisation than marketing
Draw out keywords for different customer journey stages
Create backlinks for each topic on your page
Compare and analyse your traffic with competitor traffic
Most SEO teams know the techniques used by professionals to grow organic traffic. However, the need for outcome results from lean operations and execution.
A brand review will likely appear when a customer types a brand-related keyword. Brand reviews on open forums play a crucial role in shaping a customer's opinion.
40% of customers refrain from engaging in a business after reading negative reviews.
There are multiple tools businesses can use to track what people say about their brand online. The next step is formulating your branding strategy for customer reviews to redirect organic traffic.
Brand reviews are more than just testimonials on your site. Leverage the power of social media, E-commerce platforms, online discussion forums, directories, and most importantly, Google MyBusiness.
Our team at Growth Jockey uses data and machine learning to understand the current market trends. A dedicated research team ensures that real-time statistics give a picture.
Achieving organic growth through SEO is more than just about best practices. It takes thorough research, trial-and-error, and constant data analysis to head in the right direction.
A team of qualified industry experts can help you with just that. You can take a look at our work in growing Femica India organically.
With cutting-edge competition today, organic growth comes to only a handful. The importance of organic growth in business development is realised only after it’s too late.
While planning the pricing and products, marketing and sales strategy, consider digital. Once you're set with the fundamentals, focus on the tech.
At Growth Jockey, we are committed to helping businesses achieve organic growth through tailor-made strategies that address the specific challenges they face across diverse industries. Regardless of the scale of your company, whether it's a small-scale enterprise or a large corporation, we can provide you with the expertise and insights needed to drive sustainable growth.
Take a proactive step towards unlocking new opportunities for your brand by reaching out to us today!