The Secret Growth Marketing Opportunities that cost small to medium businesses millions each year.

There are numerous growth marketing opportunities for small businesses to grow. Each year, new growth hacks or tactics emerge that businesses must implement to stay ahead of the curve. However, how do you know which are the tactics that are going to be worth it for your business? Let’s explore the current missed growth marketing opportunities that many businesses fail to implement which could be leading to businesses missing out on millions of dollars each year.

• Referral campaigns

• Free gift implementation

• Customer development interviews

• Get Help From Ascendify

Using Referrals with Growth Marketing

Referrals are one of the most under-utilised growth marketing techniques which provide one of the highest returns on investments for all small to medium businesses. Referral campaigns don’t necessarily have to be directed to consumers either they can be focused on business-to-business referrals. There are a number of infamous referral campaigns which have allowed businesses to see extreme growth. One of the most famous examples was back in 1997 when Hotmail was starting up. They were struggling to get users onboard, and a strategy they used to earn $400 million was to put the following message at the bottom of every email in the signature: “PS: I love you. Get your free e-mail at Hotmail”. This amazing growth hack is what allowed them to spread the word of Hotmail and is what led to Apple having the famous “sent from iPhone” signature through the Apple mail app. Suffice it to say that referrals are one of the most effective growth techniques that many businesses forget to correctly implement to truly grow their business.

How can Small To Medium Businesses supply Free Gift

The Free Gift is a technique that many giants are now using to gain traction with their products and increase mass adoption. This technique involves providing your customers something of value for entirely free, this could be an audit or could be a trial of your software. This is incredibly prominent in the subscription service industry. It allows for a "try before you buy" approach, where users can sign up for a free trial and automatically transition to a paid plan once the trial period ends. One of the most famous examples of this is Netflix. Netflix’s mass growth came from offering one month free which saw a drastic rise in users on the platform allowing Netflix to entirely dominate the TV and movie industry.

The growth marketing opportunities which are underutilised by small to medium businesses: The Customer development interviews

In the realm of growth marketing, the customer reigns supreme as the most vital individual in any business. They are the ones responsible for keeping the business afloat, without whom businesses would cease to exist. Regrettably, this fundamental aspect is frequently overlooked by small businesses, resulting in a high failure rate for many of these small businesses. What we see time and time again is businesses failing to serve the customer and attempting to implement changes that their customers don’t really want/need. It is essential to maintain communication with customers and rally find out about their pain points and understand what you can do to improve their experience.

Get in touch with Ascendify

One of the easiest ways to begin growing your business instead of spending hours and hours researching the newest trends is to begin by getting a free marketing audit by Ascendify who can come in and assess what you are doing and help you create a plan moving forward.

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