Title - Business growth and optimisation process Tags - businessgrowth
- Decide what you really want your business to do for you (business purpose)
- What’s your business revenue target?
- Select the ideal combination of the three ways to grow a business
- How many new clients do you want?
- What do you want the average transaction value to be?
- What do you want the frequency of purchase to be?
- Decide which marketing approaches to test
- Which approaches do you want to test to increase the number of clients?
- Which approaches do you want to test to increase average transaction value?
- Which approaches do you want to test to increase frequency of purchase?
- Choose a specific application of each approach to test
- For each approach, what specific application seems most likely to yield the greatest result?
- What is the quickest, easiest, least expensive way to test each approach without sacrificing your standards of excellence?
- Test each approach
- Carry out the test you identified in step 4 for each approach
- Measure and evaluate each approach
- What happened?
- Is it worth it?
-
If so, why? -
If not, why not? - How often should you repeat it?
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Once? -
Occasionally or seasonally? -
According to a regular schedule? -
Continuously? - Take what works and do more of it
- Take what works and see if you can make it work better
- What effort and resources should you commit to the activity?
- Systematise the successful approaches
- Project forward the implications of each approach so you know that when you do this it will result in that.
This process, applied to marketing, is very similar to the Business Development Process (here: 202206031223) which applies to the whole business.
[#abraham1997howtogetfrom]: Jay Abraham: How To Get From Where You Are To Where You Want To Be.