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Business Growth Examples

40 Examples of Business Growth

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Business growth is a sustained increase in revenue. This can be achieved with internal efforts such as increased production, better inventory management and improved customer service. Business growth can also be achieved with capital investments such as acquisitions or building out new capacity. It is also common for business growth to be a marketing effort with advertising, promotions, pricing, sales, product development and distribution efforts that boost revenue. The following are common examples of business growth.
New products and services
Increase conversion rate
Increase sales win rate
Increase leads
Increase visits
Reduce customer churn - improves revenue and therefore growth
Sales partnerships
Improve ratings and reviews
Optimizing pricing
Product diversification
Geographic market expansion
New target customers and customer segments
Expanding into new product categories
Product line extensions
Product improvements and upgrades
Premium versions of products
Increase customer loyalty
Increase average order value with techniques such as upselling
Mergers and acquisitions
Joint ventures and strategic alliances
Co-branding and co-marketing
Licensing agreements
Distribution partnerships
Loyalty programs and purchase incentives
Sales, discounts, coupons and other sales promotions
Advertising campaigns
Promotional campaigns
Backward integration – taking over more of the value chain in the direction of suppliers
Forward integration – taking over more of the value chain in the direction of customers
Enter new industries
Add services to products
Add products to services
Eliminate stockouts and inventory issues
Volume discount promotions
Bundling offers
Increasing production and operational output
Improve product quality in a way that drives demand
Increase customer lifetime value – how much you sell to each customer
Expand your salesforce
New distribution channels such as retail, ecommerce and wholesale
Organic growth is growth that a business achieves on its own through its regular operations. For example, a sales team that improves its win rate to boost revenue.
Strategic growth implies an investment such that you are growing by putting more capital to work. This includes things like mergers and acquisitions and major expansions such as building new factories or stores.
Partnership growth is the process of growing by working with partners such as distribution partners that can sell your products.
Internal growth are improvements to your operations that increase growth. For example, a widget factor that produces more widgets or a hotel that improves its service such that reviews improve and bookings increase.
Next read: Types of Growth Strategy
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