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Overview

For any small or medium sized business, growth is essential in order to compete and survive in the work place. Many times, new companies experience explosive growth in the beginning and then struggle to grow at the same rate. There are many trends in the market place right now that any business owner can adopt in order to grow his or her business, It is important not only to continuing growing, but to also make sure that the growth is organic and profitable. At the end of the day, a business is open in order to be profitable and the growth strategy should reflect that.

Social Media Advertising

One of the biggest current trends to increase the growth of a business is social media advertising. The great thing about social media is that it is largely free, but this means that many other businesses will be using it as well. It is important for a business to differentiate themselves from their competitors on social media. Perhaps the best way to do this is to offer up free content constantly from your social media sites. Not only will this provide value to the customer but it will also drive traffic to your website. At the end of the day, the more website hits a business gets the more this should translate in to higher sales and profit numbers.

Subscription Services

When many people think of subscription services, their first thought is generally towards magazine or other media companies. However, there are many other types of businesses that are now offering thing related to monthly services. For example, if a small heating and air conditioning company wanted to adopt this model they would offer a quarterly inspection on a heating and air unit for a low monthly cost. Not only will this entice customers to do business, but it will also help to keep a more constant revenue flow. Then, the business will have more points of contact with the customer and can leverage that in to higher sales. If only five or ten percent of those quarterly meetings result in replacing an entire unit, the business will make substantially more money than had they otherwise not offered that service.

Adding Value to Customers

Finally, one of the biggest trends in growing a business is to lavishly add value to customers. Even in the age of social media, the best advertising is still a great customer reference. When a business makes a decision to invest in its customers, this will translate in to long term growth for the business. There are many ways in which a business can do this, but one example would be sending a thank you note and a gift card to someone that you worked with over the past year. Not only will this be another point of contact but will also create good will with the customer.

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