HOW TO GROW YOUR START-UP

Every start-up company require some areas of focus to be able to become established within the first three years.

It is said that when you pay attention to 20% of what matters most in your business you’ll get 80% of the results that you seek (Pareto principle)

Here are the few things that one needs to consider while growing their start up.

1. Acquisition: this has to do with acquiring new customers, because as a start up, you need customers for a variety of reasons but mostly because you need to be in business.

To get this sorted out, you’ll need a strategy. It could be a discount, making your products cheaper than usual, using an influencer etc.

You’ll need to focus on the top performing channels, there is not time to diversify, you’ll need to optimize what channels that are bringing in more customers than usual.

You’ll need to find the channels that has low cost, more users and doesn’t need much time to be spent on.

A start up should also know the cost it takes to bring one customer (CAC)

2. Activation: this has to do with the impression your customer will get first-hand.

You have to make your customer understand your product and service and get a better understanding of your USP so that they can become brand ambassador of your services and products.

The start up company should also make on-boarding of customers an easy process for customers and as well the customer support and Ui/UX should be customer friendly in a way that the customer isn’t confused because when a buyer is confused, they don’t buy.

All these activations would determine whether the customer would patronize you or not.

3. Retention: How do you make the customer to come again and again

There has to be a remarketing strategy to get those who have patronize you to keep coming, this could be through saying thank you, making them have the best experience while they patronize you.

Email marketing and content marketing can also be used as well to always be visible to them. The cheapest means of growth is retaining old customers.

4. Referral: How do we turn customers to ambassadors.

The Start-up company can create a community where customers can interact with other customers as well, let a brand story be so powerful that it is shared in this community.

Make the contents of your start up in such a way that it can be shared to other communities and persons via social media.

Referral bonuses can also be used to encourage referrals as well.

5. Revenue: a start up company should look for ways to get more revenue, cutting cost, outsourcing local materials for production.

Upgrading membership in communities, giving incentives to encourage more sales.

Getting an upselling strategy, or possibly having complimentary goods around to make sure that we get more customers as well.

Try this and see your start up company growing from leap to leap

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