Growing a business is exciting, but it also comes with its own set of challenges. While most companies focus on well-known strategies like increasing their marketing budget or expanding their product lines, there are other lesser-known tactics that can give you a significant boost during the growth stage. Here are seven overlooked strategies to accelerate your business growth that you won’t find on most “how to grow your business” lists.
1. Leverage Cooperative Marketing with Non-Competitors
Many businesses miss out on the power of cooperative marketing — partnering with non-competing companies to pool resources and reach a broader audience. Find a business that complements yours but isn’t a direct competitor and collaborate on joint marketing campaigns. This can include co-hosted events, content collaborations, or shared advertising space. This allows you to leverage each other’s customer base and boost your visibility without breaking the bank.
Example: If you run a boutique furniture company, you could partner with a local interior design service. You could collaborate on home decor webinars or offer a discount for customers who use both services.
2. Create a Formal Peer Accountability Group
An accountability group made up of other business owners in similar or complementary industries can be incredibly valuable for maintaining growth momentum. The group should be designed for regular check-ins where members share their goals, challenges, and solutions. This support system can help you stay accountable for achieving your growth targets and also give you access to fresh ideas and advice from those who understand the complexities of business expansion.
Bonus Tip: Use platforms like Slack or Zoom for easy communication, and consider hiring a facilitator to keep discussions focused and effective.
3. Reassess Customer Onboarding for Growth Potential
Most businesses focus heavily on attracting new customers but often neglect to reassess their onboarding process. Revisiting your customer onboarding can be a surprisingly powerful way to fuel growth. Streamline and enhance this process so that customers get the best possible experience right from the start. Providing helpful guides, check-in emails, or an onboarding specialist can create loyal customers who are more likely to provide repeat business and referrals.
Tip: Automate parts of the onboarding process using email workflows to keep new customers engaged without adding extra work for your team.
4. Systematize Employee Development Programs
Your growth largely depends on the strength of your team. Instead of looking outside to solve growth challenges, focus on internal employee development. Create systematized, ongoing development programs that allow employees to grow within the company. This not only helps with retention but also increases efficiency, creativity, and loyalty, directly contributing to overall growth.
Example: Offer cross-training programs that help employees understand other departments, promoting a more cohesive and agile company culture.
5. Exploit Micro Niches in Your Market
If you are in the growth stage, you might already be tapping into a specific market niche, but there are likely smaller micro niches within that market that you haven’t fully explored. Micro niches have even less competition, and they allow you to provide ultra-specialized solutions that larger companies can’t compete with. Identify these subgroups, adjust your marketing messaging, and create special offers or content to attract them.
Example: If you sell pet care products, a micro niche might be “organic grooming supplies for senior dogs.” Customizing your offerings for this group can yield a dedicated customer base.
6. Build and Monetize Your Expertise with Digital Products
As you grow, you’ll accumulate a lot of expertise in your industry. One great growth strategy is to monetize that knowledge. Develop digital products like e-books, online courses, or exclusive guides that share your expertise. Not only does this provide an additional revenue stream, but it also establishes your company as an authority in your industry, which can boost trust with customers and partners alike.
Tip: Even a simple downloadable checklist or how-to guide can attract potential customers and set you up as an expert in your field.
7. Invest in an Alumni Program for Past Customers
One rarely-discussed but powerful strategy for growth is creating an “alumni” program for past customers. When customers complete their engagement with your business (for instance, a subscription period or a one-time service), don’t lose touch with them. Design a loyalty or alumni program to continue providing value — exclusive offers, industry insights, or a dedicated community. Past customers can become strong advocates and repeat clients if nurtured properly.
Example: If you run a marketing agency, create a private group for former clients where they can get occasional free resources, stay informed about industry changes, and ask questions. This can also encourage referral