To achieve growth you must invest in your company. The key is to invest wisely. Off course you can achieve financial growth by raising the prices. But that is not sustainable. Other factors become more difficult to maintain when you’re not growing in the full width of the spectrum.
To achieve the best and healthy growth you must invest in the following pillars. Make sure you put your effort in, in the most efficient way possible.
1: Attract more customers
More customers is more sales and eventually more turnover. Therefor, you need to invest in attracting more new customers. Also keep in mind that a satisfied customer is an ambassador for your brand who can help achieve even more new customers.
2: Get customers to return to your shop
Apart from loyal customers being ambassadors, they can also turn in to returning customers. The second pillar, get your existing customers to buy more frequently. Re-activate your customers by sending them relevant offers and news related to their sales.
3: Achieve a higher avarage order value
If your customers spend more money per purchase you eventually (given that the number of sales stay equal or preferably increase) increase your turnover. Achieving this is all about relevant upsells, cross-sells and related products. Persuade your customers to buy more expensive products, more products or more accessoires together with their products.