Corporate Digest Magazine- October/2017 Corporate-Digest-magazine-october | Page 20

Strategy 9 Tested Ways to Grow a Business L et your business grow on new trajectory. Here are some ways that will flourish your business. 1. G et your business spread in the exis ng market Ge ng new customers is not bad. But be er will be to sell more to the exis ng customers; retain the exis ng customers. Acquisi on of new customers will involve higher promo on out-go. Whereas, selling to exis ng customers will be cost-effec ve. Pricing is another aspect which will help your business in penetra ng the exis ng market. Remember that always charging compe ve price may not help. Some mes you need to reduce the weight/quan ty of the product (indirect pricing) or offer free gi s. You may even change the packaging. 2. You may seek referrals. During or a er every job or sale, ask your sa sfied customers if he knows anyone else who would be interested in your products or services. However, this is possible only if your deliverables can delight the customers. www.Venture-Care.com/Magazine October 2017 20