Immediate scalable growth is possible through multiple approaches that converge into a stable strategy. No one method can bring about drastic changes to a business, yet they can offer powerful advantages when combined. Of course, a coordinated effort is also needed.
So, where does a business begin when fast and effective scaling is needed? From embracing cloud-based systems to using KPIs effectively, here are some powerful tactics to get started.
Consulting with Professionals
There are many hidden process inefficiencies that can limit the potential for scaling effectively. Automation, data silos, and disconnected systems are good examples, especially for mid-sized enterprises.
To streamline systems and reduce issues such as bottlenecks, companies need to think more than just about optimization; they need solid advice from NetSuite managed services consultants who can partner with businesses for effective ERP optimization across the board.
Immediate Scalable Growth with Cloud Tools
Cloud services are ubiquitous these days, and any business can benefit from them. They are so popular that it is estimated that over 90% of businesses, small and large, use cloud services of some type. However, there are some key aspects of cloud systems any leader needs to know.
Dynamic resource allocation
Cloud services allow businesses to adjust resources, especially computing resources such as servers and storage, up or down to meet varying demands depending on needs at the time.
Optimizing costs
The costs of cloud computing are also dynamic. Without paying more than needed, businesses can optimize costs by paying for the resources needed at any given time, smaller or larger.
Types of scaling with the cloud
There are different types of scaling a business needs to be aware of with cloud computing:
- Vertical scaling increases the power or capacity of resources such as data storage.
- Horizontal scaling relates to adding resources across servers for better distribution.
- Hybrid scaling is a combination of the two for effective scaling for higher workloads.
Better performance
With cloud scalability, a business has access to much better performance that reduces the chance of network issues from traffic spikes, higher workloads and the dreaded bottlenecks.
Flexible solutions
Cloud-based solutions allow companies to adapt to new business opportunities and evolving market conditions without the commitment to expensive infrastructure enhancements.
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Positioning the Brand
Brand positioning is a core part of modern business, especially with so much competition, thanks to online services. A good start is identifying a core value proposition. That is the unique solution that a company can offer over competitors, and that helps it stand out against the crowd.
For example, a pizza company can promote their unique USP with value to the customer and dedication to service by offering hot pies in 20 minutes or less, or their money back.
Crafting Ideal Customer Personas
In pretty much every type of business, there are ideal customers. Successful business leaders know that they must appeal to the consumers who are most likely to buy their products. However, this relies on extensive market research, data analysis and patience.
A business must understand the needs of a customer, pain points (common issues) and what a customer expects now and in the future. Only then can a business truly craft an image of the ideal consumer.
Optimizing the Sales Funnel
Sales are, of course, the bread and butter of any business and are needed for growth. When scaling, a company needs extra revenue, and understanding the sales funnel is key. From discovery to purchase, prospects must be pushed toward the final sale using various methods.
For example, there must be a focus on lead generation, which can come from various sources such as external and internal website links, calls to action (CTA), and sale-driven landing pages.
Understanding the Customer Journey
The customer journey is also essential as part of the sales funnel and a key accelerator for scaling. From discovery to sale, the journey must be attractive, simple and memorable. All of these key things together drive sales and increase the chance of repeat business.
Targeted marketing, and remarketing are powerful methods of acquiring and retaining customers, who can be made aware of a USP and other benefits through previous customer testimonials.
Digital Marketing for Immediate Scalable Growth
Digital marketing is a powerful tool in the modern business landscape. There are many reasons why digital marketing is essential for your business's success, especially when scaling.
One of the most powerful tools for immediate scalable growth is search engine optimization (SEO), yet only 44% of companies use SEO as a strategy for growth, and even fewer use other popular methods that can help a company grow, such as social media marketing and PPC campaigns.
Effective use of on-page SEO
On-page SEO relates to what users see, such as copy, images and even the URL. These can be enhanced with keyword research and creating content around intent, including backlinking.
Implementing technical SEO
Technical SEO is the background optimization such as website architecture, XML sitemaps and ensuring a site is mobile-friendly. All of these are taken into consideration by SERPs for ranking.
Including local SEO
This is SEO related to a specific geographical area. A business can leverage local SEO with contact and address details on a website, and by registering with Google My Business.
Social media campaigns
Social media is a powerful marketing tool that shouldn't be overlooked. With a potentially massive reach, engagement, and direct communication, social media is a valuable tool.
Pay-per-click (PPC) marketing
Organic traffic from SEO can take some time to yield results. A PPC campaign alongside it can boost SERP results through sponsored ads and links targeted towards customer demographics.
Hiring the Right People
One of the most costly mistakes in terms of funding and time, is hiring the wrong people for the job. The reason is that finding workers who align with the role requirements relies on more than just skill and talent.
Of course, these are important. However, a company must also seek employees who share the values of the organization and can appreciate the overall vision. Passionate employees, even ones who lack a skill or two, can be worth much more.
Delegating Hyper-Precise Roles
Of course, any employee must have specific tasks that they must complete. However, it is often the case that an employee isn't sure of what is required of them. This causes a chasm of uncertainty in a role and results in low productivity.
This will hamper any efforts of a business to scale effectively. A solution is to create hyper-precise roles so every employee understands exactly what they need to do. Ambiguous job descriptions are the enemy of a scaling project.
Invest in AI and Automation Tools
Modern businesses rely on automation and AI tools because they offer so many advantages. At first glance, automated systems offer higher speed and accuracy in certain tasks. However, there is much more to these tools than looking at data or performing repetitive tasks.
Powerful automated tools can more or less run specific parts of a business, ensuring rapid scaling as managers are free to exercise their skills at more critical infrastructure that needs attention.
Tracking of Available Revenue
Scaling comes at a cost, and it is in a company's best interests to ensure they have the funds available for the scaling they need. Dynamic scaling via cloud systems can be cost-effective but, in most cases, offers a temporary solution.
For something more permanent, there needs to be a budget available. So, before thinking about scaling, a comprehensive plan is needed, and this includes a detailed breakdown of costs compared to the funds that are readily available.
Immediate Scalable Growth with KPIs
Key performance indicators are valuable when tracking specific goals that can be measured for success. Some of which might be needed for a scaling project. 89% of major brands use marketing metrics alongside KPIs to evaluate the effectiveness of specific strategies:
- KPIs allow a business to define business objectives and work towards those goals.
- They also provide an easy-to-understand roadmap that employees can follow.
- A focused approach with KPIs reduces wasted time and highlights specific targets.
- KPIs are also a framework for setting accountability with performance expectations.
- Teams can also analyze data related to KPIs for better strategic planning and execution.
Agility and Market Responsiveness
Scaling a business is a large undertaking, and must be well planned, thought out and executed. However, there must also be a contingency to scale back after scaling up, which most companies don't think about.
Markets change and evolve, and a company must also be agile enough to change with them. This can mean scaling up, yes. However, it can also mean an ability to scale as needed, whether up or down, as with AWS dynamic scaling for websites.
Summary
Consulting with experts about ERP systems such as NetSuite is a powerful advantage for immediate scalable growth for any business. Of course, no modern company can afford to ignore the power of digital marketing with SEO and social media. However, any scaling project must also be contingent in order to adapt to changing markets, where scaling up or down.
