When growing your business you need to decide on a growth strategy
Here are two examples:
1) Vertical growth - focusing on current customers to make additional purchases of your product or services. Develop new products or services to appeal to existing customer base.
2) Horizontal growth - finding new customers to buy existing products or services. Expand the geographic reach of your business as well as sell to different customers in same area.Don't limit yourself. You can combine both strategies. If you are a smaller firm, concentrate on one at a time.
Communication Tip - when communicating to your target market - U.S. Mail postage, envelope, paper and labor on average will cost you $1 per person, an email about 3 cents per person.
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Recent Comments | 2 Total
July 28, 2009 at 1:59pm by Jim Lanzalotto
I work with Q Analysts, a Santa Clara-based firm that has a 5-year CAGR of >100%. They've done a good job of vertical growth -- bringing in new offerings to existing customers. And they've added new customers with their current services. 09 is off to a good start, too. Up 56% in Q1. http://tinyurl.com/l2lgy8