Examples of Tactics for Scaling

by David McKenna

Examples of Tactics for Scaling

There are several tactics that businesses can employ to attract new customers and scale their business. Examples of tactics for scaling include:

Market Development

  1. Customer Loyalty Programmes: Implementing customer loyalty programmes can help increase sales and retain existing customers. These programmes incentivize customers to continue purchasing from the business by offering rewards, discounts, or exclusive perks. By providing added value to loyal customers, businesses can foster long-term relationships and encourage repeat purchases. It is generally more cost-effective to retain existing customers than to acquire new ones, making customer loyalty programmes a valuable strategy for scaling a business.
  2. Price Reduction: Decreasing prices can be an effective way to attract new customers. Telecom companies, for example, often offer reduced introductory prices to entice new customers to switch to their services. By offering competitive pricing, businesses can capture the attention of price-sensitive customers and encourage them to try their products or services.
  3. Increased Promotion and Distribution: By investing in promotion and distribution efforts, businesses can expand their reach and attract more customers. Building a sales funnel is one approach where businesses map out the customer journey and optimise their promotional activities to attract potential buyers. This can include utilising various marketing channels such as blogging, social media, paid ads, and more. By increasing visibility and creating targeted marketing campaigns, businesses can generate more leads and convert them into customers.
  4. Acquiring competitors: Acquiring a competitor in the same marketplace can provide a quick way to scale a business. By acquiring competitors or companies in complementary industries, businesses can leverage their existing customer base and infrastructure to accelerate growth. This strategy allows businesses to expand their market share, gain access to new customer segments, and consolidate their position in the industry. However, it is important to carefully evaluate the financial and operational implications of such acquisitions to ensure successful integration and maximise the benefits of scaling through acquisition.
  5. Building a Mailing List: Creating a mailing list is an effective way to engage with customers and keep them informed about new products, promotions, and sales. By capturing customer email addresses through various touchpoints, businesses can establish direct communication channels. Email marketing campaigns can be launched to target specific customer segments and encourage repeat purchases. By regularly engaging with customers through personalised content and offers, businesses can build brand loyalty and drive sales.
Examples of Tactics for Scaling

Product Development

  1. Investing in Research and Development (R&D): By allocating resources to R&D, businesses can develop new products that align with the evolving demands of their existing market. For example, car manufacturers invest heavily in research to develop electric cars, recognising the increasing importance of environmental consciousness among buyers. By staying ahead of market trends and investing in innovative solutions, businesses can attract and retain customers, ultimately driving growth and scalability.
  2. Acquiring Competitor’s Products: Another strategy to better meet the needs of the existing market is by acquiring a competitor’s product and merging resources. This allows businesses to leverage the strengths and capabilities of both companies to create a new and improved product. A notable example of this is when Facebook acquired WhatsApp and Instagram, integrating their features and user bases to enhance the overall user experience and expand their market reach.
  3. Forming Strategic Partnerships: Collaborating with other businesses through strategic partnerships can provide access to new distribution channels or brands. For instance, Starbucks has formed in-store coffee shops at Barnes & Noble bookstores, allowing them to reach a wider customer base and increase their market presence. Similarly, the partnership between Nokia and Microsoft to build Windows Phones combined their respective expertise and resources to create a competitive product in the smartphone market.

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