GROWTH PLANS
TO DOUBLE YOUR GROWTH RATE , YOU PROBABLY WILL NEED TO INVEST MORE , BUT YOU ALSO NEED TO INVEST SMARTER .
With digital marketing , you need to be more systematic to ensure that you are seeing measurable results . So that ’ s one of the first things I would look at . What is it with your marketing that is working and what ’ s not working ? What do you need to change ? What are the newest trends out there ? For instance , is TikTok right for your business ? These new applications , new platforms for communicating , present great opportunities for a lot of our businesses . They aren ’ t for everyone , but they do serve a lot of our businesses . Are you “ on trend ,” or do you look like a dinosaur online ?
You want to look at the new trends and what your competition is doing so you can stay one step ahead of them . You need to know what to do to hit your growth objectives . One thing I often see is companies wanting to know that in 2023 , they ’ re going to grow by 25 %. That ’ s great , but how are you going to make that happen ? Have you thought about how much you need to invest in your growth engine to go from a 5 %– 10 % growth rate to a 25 % growth rate ? If you haven ’ t , you need to , because you are not going to change the trajectory of next year compared to the past few years if you don ’ t change your tactics for fueling that growth .
If you want to double your growth rate , theoretically you probably need to double your efforts and the resources you put into it , whether that ’ s investing in your marketing , in your sales force , or your sales tactics . For you to double your growth rate , or even increase it next year , you need to increase the resources that are going to fuel that growth . Most companies have lofty goals , but they don ’ t allocate the marketing dollars or the sales dollars to achieve that growth . They wonder why they continue to miss their growth targets . This doesn ’ t mean that you need to double your resources , but you certainly need to do it differently . This comes back to whether your marketing is measurable and whether you are getting tangible results .
When we start working with a Client-Partner who wants to double their growth rate next year and start growing at a faster pace , it doesn ’ t necessarily mean they need to double their budget . It might mean that they need to increase their budget by 20 % or 50 %. Combine a 50 % increase in your budget along with a 50 % increase in your efficiency and you will more than double the output of your marketing dollars !
To double your growth rate , you probably will need to invest more , but you also need to invest smarter . Working with Client-Partners who want to double their growth rate , oftentimes we ’ re not doubling their expenditures on marketing , we ’ re just getting smarter . Sometimes , we can even bring costs down in certain areas . We don ’ t advocate reducing your budget , but maybe we can work smarter , so that by analyzing where your marketing dollars are being spent , you can make them work smarter to get double the result .
So what is your growth plan for 2023 ? How much do you want to grow your company ? Do you have the resources to support that growth rate and then to support it with your products or service offering ? Have you thought strategically about what you want next year to look like ? Do you have the systems that will enable that to happen ? Start with the business plan and then back into your marketing and sales development plans that will enable that business plan to come to fruition . That ’ s what we do here at Tulip Media , and it ’ s been working for years . It ’ s what we do with our Client-Partners , and it works every time , but you need to be strategic about it to create your future by design , not by default or good luck . Let us know if you have any questions or want to discuss your strategy one-on-one with one of our specialists .
Andy Buyting ' s thought leadership journey started when he published his first business book in 2007 and first magazines in 2009 . Since that time , he has leveraged custom magazines and online digital content strategies to establish himself as a leading authority in content marketing and brand positioning . Through his company , Tulip Media , Andy and his team make these content marketing strategies and tools accessible to their Client-Partners .
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