The Customer Growth Strategy
Want to grow your business and attract more customers? Follow this 7-step Customer Growth Strategy and get the free worksheet downloads.
#1: The Basic Business Model
Much like the moving parts of an engine, there are the moving parts of a business model. And in the same way that it takes an increased flow of fuel to get an engine to turn over faster, accelerating the growth of business requires a greater flow of sales.
The flow of sales (See diagram)
Marketing identifies and attracts customers who have a need that the business can solve. The sale then flows to Operations where the solution is created and supplied. Finally, the sale flows to Accounting where the transaction is completed.
The flow of money (The fuel)
 From accounting, money flows back to marketing providing the budget to further drive the flow of sales.
 From accounting, money flows to pay the business system costs such as salaries, rent, and other overheads.
 From accounting, profit flows to owners and investors as a return on investment.
#2: The Business Model 'Flywheel'
Once you've built and tested the business model you will probably want to increase the speed of growth - much like getting an engine flywheel to turn faster.
To make this stage easier, we have created a Business Development worksheet which is free for you to download - simply click the button below.
With a business model in place, high-growth businesses typically turn to technology in order to implement their processes and get the business cycle moving faster.
When it comes to customer growth, Marketing Automation is the technology we use to execute marketing and sales processes. The benefit is that it can interface seamlessly with your audience, provide a highly personalised experience, and perform your marketing processes 24/7.
How to Drive Customer Growth
#3: Customer Growth Bottlenecks
The problem with driving customer growth is that inevitably there are bottlenecks that slow down, and sometimes completely block, the flow of sales and the growth of business.
In the same way that a bottleneck in fuel supply will suffocate an engine, a bottleneck in marketing can suffocate a business.
Bottlenecks occur in many forms, from external and internal sources - such as competitors, new innovations, changes in customer behaviour, performance issues, and many more.
Generating more sales requires that the cause of a bottleneck is identified and the cause investigated in order to identify the right solution.
Detecting a bottleneck is critical to success as it points to where management attention is needed, and where value can be created. In other words, identifying a bottleneck will direct attention to where a problem lies - and a business makes its money out of solving problems!
#4: Map the Customer Journey
When it comes to unblocking bottlenecks, one of the quickest and easiest ways to solve the problem is to map the Customer Journey.
By doing this you will ensure that customer preferences and perceptions - the reasons people decide to buy from you - are understood and included in your marketing and sales system. It will also help you prepare the way to create a high-performance, high-growth sales funnel.
One aspect that is critical to the process is to provide relevant, helpful information (the ‘i’ at the centre of the circle): the specific content (adverts, videos, white papers, infographics, etc.) that helps people find and apply the solution you offer, before and after a sale.
The structure of the information i.e. how the information is presented will influence the success of your sales process. We recommend using the persuasive and captivating hero/ villain/ superpower story model.
#5: Build your Customer Value Steps
The next step is to increase customer commitment by adding value throughout the customer journey. You can do this is by converting the customer journey map into a set of Customer Value Steps, where you add value every step throughout the customer journey.
The Customer Value Steps diagram illustrates the process as follows:
(1) Identify when a person’s need for your offering might get triggered – so you can develop a process to present the right ‘bait’ to attract them to your solution.
(2) Identify where a person might search for the solution they need – so you can develop a process to ‘hook’ new leads i.e. promote your business where people typically search for solutions.
(3) Identify how they evaluate the available options and solutions – so you can develop a process to provide the specific information they search for (and steer them in your direction).
(4) Identify how they make a purchase decision – so you can develop a process to make their decision-making easier and quicker.
(5) Identify what customers do after they have bought – so you can develop a process to check that they are satisfied with their purchase and with your brand.
(6) Identify why people might become loyal customers – so you can develop a process to get repeat business, referrals, and recommendations.
#6: Develop your Sales Funnel
Now that you have worked out the Customer Value Steps, you are ready to build your own unique and compelling Sales Funnel.
Looking at the diagram you will see that above the funnel you have your audience - the prospective customers you identified, and established why they might have a need for your offering.
Below the audience are the various channels your audience uses to find a solution to their need - and the channels you use to find your customers. These are the channels you need to be actively using to promote your business.
Your prospective customers, or sales leads, now enter the sales funnel. At this point, you present your ‘bait’ - the advert headline that captures their attention.
From here on your Customer Value Steps will help walk your sales lead through the funnel to the point where they convert to become a customer, and onwards to become a loyal supporter and advocate of your brand.
#7: The Customer Growth 'Flywheel'
By following the 6 steps above, you will be ready to map out your customer growth strategy.
To make this process work successfully, we recommend that you write down your strategy (you can use our Customer Growth worksheet which is free for you to download by simply clicking the button below).
As soon as you have recorded your strategy you will be ready to put it into action. And, if you want to get the flywheel turning faster, 'hands-free' 24/7, marketing automation is the technology that will get the job done - at a fraction of the cost of paying staff to do the work.
By using automation software you will ensure that once a person takes action on your website, or on other platforms, your marketing and sales processes will trigger automatically.