Business Growth Drivers

Many factors can contribute to business growth;

• Getting more customers
• Converting more leads
• Increasing customer spend and frequency
• Customer retention
• Profitable pricing
• Establishing effective systems

To help you navigate these complex topics, we have created this 7-part series to explore each one, with this being the first.

Before embarking on this journey, however, we’d recommend you first have to hand some information about your business. This will help illustrate some of the points we explore and allow you to apply these strategies more directly to your situation.

To get the most out of this series, we’d recommend gathering:

• Website conversion rate
• Customer defection rate (what percentage of clients only buy from you once)
• Your target profit margin
• A summary of your ideal customer
• What’s unique about your business – why should I buy from you vs. a competitor

Don’t worry if you can’t get all of this; part of this series is getting you thinking about these questions. But if you do have them, bring them with you.

Summary of what to expect

You might feel some of these topics are more relevant to your situation than others. So while we hope you’ll read all of them, we’ve written each as a standalone article that can be digested on its own.

Below you can see a summary of each to help you decide where to start and choose which feels like it would impact you the most.

Getting more customers

• The 4 common stages of the sales funnel
• Common tactics for reaching customers at each stage of the funnel
• Understand your business, understand your customer
• Referral marketing, partnerships, and networking

Converting more leads

• Generating quality leads
• Tracking leads from qualification to completion
• The importance of scripts
• Sales processes
• Building trust
• Focusing on the customer

Increasing customer spend and frequency

• Keeping customer interested
• Upselling
• Tiered offers
• Increasing your prices

Customer retention

• Tips for improving customer retention
• Getting to know your customers
• Communication
• Customer service
• Rewarding loyalty with loyalty
• It’s a team effort – Getting your team onboard

Accurate pricing

• How to decide on your price
• The danger of cutting prices
• Focusing on value
• Reduce customer risk
• How niche services can increase your prices
• Add-ons and extras: An alternative to cutting prices

Establishing effective systems

• Why every business needs systems
• Benefits systems bring
• Signs your systems could be improved
• The 5 Why method

Why an accountant is a great resource for business advice

You might be asking why we, as chartered accountants, are sharing business growth advice. It’s simple. We work with businesses of all sizes and structures. The numbers behind all businesses show us what works and what doesn’t. We can spot the danger zones and help business owners to avoid them.

Managing your numbers is a historical task – we’re crunching numbers for what has happened in the past. However, the information we discover should be used as a tool to improve results and uncover opportunities.

If you want to explore the numbers in your business, and how they can help you to improve your results, get in touch. Start here by booking your call with Chris > Book your call

Explore the complete 7-part series