How to constantly grow your cashflow and business
Growing your cashflow is essential to the overall growth of your business, but how do you make sure that the two work together to deliver real, positive and impactful results?
All too often, business owners can get lost in the details of what is not working. Here’s a trick… flip that process on its head and focus on what is working and amplifying those customer acquisition strategies that are working to achieve even better results.
Use The Pareto Principle
Have you ever heard of the Pareto Principle? It is a proven mathematical algorithm which is quite simple.
The Pareto Principle holds that 80 percent of all consequences come from 20 percent of causes. So how does this transpose to a business?
Let’s keep to the positive outlook we were discussing earlier. If you look at what your business is doing right when it manages to attract customers, you will find that the vast majority of positive outcomes are a direct result of about 20 percent of actions that you have taken.
As a modern business in a digital world, this would probably boil down to your website, social media platforms and, of course, your content.
FairTech’s PermaCustomer Strategy focuses on making things work smarter for you, building on previous efforts. We focus on your customer acquisition strategy, more specifically on what is already working to some extent.
Our 12-pillar strategy in customer acquisition will help you create a marketing cycle where 20 percent of the work you put in delivers 80 percent of all successful outcomes.
The strategy is simple and highly effective, delivering positive results when the 12 interlinking pillars work together with maximum effect and minimum effort.
Establish new customer acquisition strategies that build on existing ones
No doubt, your business has a website. That is your main and most important customer acquisition channel. But do you add content to it regularly?
That is a very simple way of creating a new customer acquisition strategy built on an existing one. The process is simple, and you can continue to build new strategies off the back of each one that you add.
When you post an article , you can repurpose your social media channels to attract people to your website from a different platform.
You can also create a newsletter with your articles linked and send it to your mailing list. Your newsletter could promote a competition, or a free giveaway that brings customers through the door..
Reinvest in what works
Reinvesting your time and profits into the 20 percent of things that deliver most of your positive outcomes will continue to grow your cashflow, and in turn, your business. Taking time away from strategies that fail and putting them into those successful customer acquisition strategies will make a large difference to your profits.
But if you really want to see explosive growth, you should also channel some of your investments into the new aligned strategies that will boost the number of customers you can attract.
By setting aside a portion of your investment to encourage growth in these areas, you are setting your business up for long term success.
You can use FairTech’s Permacustomer blueprint to understand which might be the right aligned strategy for you.
Watch our video to master the full 12-pillar customer acquisition process and craft the perfect single marketing strategy to dominate your industry.