13 Unique Growth Strategies for Start-Ups to Try First
To help start-ups discover unique growth strategies, we asked business growth strategists and CEOs for their expert advice. From leveraging the founder’s voice for market entry to forming strategic partnerships to help with scaling, here are the top thirteen strategies these leaders recommend trying first.
- Leverage Founder’s Voice for Market Entry
- Utilize Influencer Marketing for Authentic Growth
- Host Industry-Specific Networking Events
- Conduct Voice-of-the-Customer Studies
- Implement Hyper-Targeted Niche Marketing
- Develop Use Cases for Credibility
- Build an Engaged Community Early
- Prioritize Retention Over Acquisition
- Optimize Through Rigorous A/B Testing
- Adopt ‘Augmented Humanity’ Strategy
- Make Your First Sale Quickly
- Implement Storytelling in Referral Programs
- Form Strategic Partnerships for Growth
Leverage Founder’s Voice for Market Entry
Bringing a product to market with the voice and tenacity of the founder connects future customers to the company’s story and their vision in a way product marketing or demand-gen can’t. Creating longer-form content with the founder’s voice can be a critical move for faster adoption.
Lee Murray
Business Growth Strategist, Harvard Murray Consulting
Utilize Influencer Marketing for Authentic Growth
One unique growth strategy I recommend trying first is influencer marketing. We partnered with micro-influencers with highly engaged audiences and aligned well with our brand. We personalized our outreach and built genuine relationships, involving these influencers in content creation and product development. This approach ensured authentic endorsements and high engagement.
We could refine our strategy based on data by tracking performance using discount codes and tracking links. It led to increased brand awareness and customer acquisition. By prioritizing authenticity and collaboration, start-ups can leverage influencer marketing to build trust and drive growth.
Sacha Ferrandi
Founder & Principal, Source Capital
Host Industry-Specific Networking Events
While it’s an extra commitment, I would advise that a start-up simultaneously start hosting a regular networking event that is tailored to their industry and one that is likely to attract their target customers. In the day and age of digital, in-person events are still a great way to build a huge community. With your company being the main sponsor, you have multiple opportunities and touchpoints to interact with the attendees and start organically growing your customer base.
Ryan Stone
Founder & Creative Director, Lambda Films London
Conduct Voice-of-the-Customer Studies
One of the best ways for a startup to accelerate revenue generation is to discover what motivates consumption in your product category. I suggest conducting a Voice-of-the-Customer study by interviewing consumers in the segment you want to replicate.
A few questions that will lead to actionable insights include:
- What about your experience with our company do you value most?
- What can we do to improve your experience with our company?
- Who are you aware of that offers the same product/service that we do?
- If you were not aware of any providers, how would you go about finding one?
Responses to these questions will help you improve messaging, customer experience, competitive positioning, and promotion.
Andrew Ballard
Chief Growth Strategist, Marketing Solutions
Implement Hyper-Targeted Niche Marketing
For a start-up, I would recommend implementing a hyper-targeted niche marketing strategy first. By focusing on a specific, underserved segment of the market, you can build a strong, loyal customer base before expanding. This approach allows you to tailor your product and marketing efforts to meet the precise needs of this niche, creating a compelling value proposition.
We initially focused on specialized behavioral-health services, which helped us establish a strong reputation and gain traction quickly. This targeted strategy can provide a solid foundation for growth and make your start-up stand out in a crowded market.
Ryan Hetrick
CEO, Epiphany Wellness
Develop Use Cases for Credibility
One unique growth strategy I would recommend a start-up to try first is to build a handful of use cases. This can be done by partnering up with B2B or B2C companies and offering your solution/products as a trial run. Once you have your service out in the world and tried, it’s easier for you to build credibility and develop a strong value proposition.
Mariah Rockwood
Growth Strategist, MarketLogic
Build an Engaged Community Early
Building a strong, engaged community around a brand from the start is a unique and effective growth strategy. This can be done through social media groups, forums, or exclusive memberships that offer valuable content, early access to new products, and direct interaction with the founders.
For instance, a health-supplement start-up could create a community centered on wellness and longevity, offering expert advice, user testimonials, and regular Q&A sessions. This approach fosters loyalty and word-of-mouth marketing, turning customers into brand advocates who actively promote the business. Creating a sense of belonging and shared purpose helps achieve sustainable growth through a dedicated and passionate customer base.
Rick Eckerson
Co-Founder: Former Personal Trainer & Bodybuilder, Ready4 Health
Prioritize Retention Over Acquisition
Prioritize retention over acquisition. Acquiring new clients is crucial, but keeping them is where long-term growth truly shines. Create techniques that promote repeat business and consumer loyalty, such as award programs, exceptional customer service, and product customization. Satisfied consumers not only return but also become brand ambassadors, producing significant word-of-mouth.
Rebecca Xing
CEO, Trustana
Optimize Through Rigorous A/B Testing
When advising a start-up on growth strategies, I’d recommend starting with rigorous A/B testing to optimize their website and marketing efforts. Early on, I worked with an e-commerce business that was struggling to convert visitors into customers. We implemented a series of A/B tests on their landing pages, focusing on elements like headlines, call-to-action buttons, and product images. One significant test involved changing the color of the “Buy Now” button from blue to green, which led to a 20% increase in conversions.
This taught us the power of data-driven decisions. By continuously testing and iterating, start-ups can identify what resonates most with their audience, making every marketing dollar count and driving sustainable growth. The actionable insight here is to always test assumptions and use real data to guide decisions.
Jörg Dennis Krüger
Author, Expert and Mentor, The Conversion Hacker®
Adopt ‘Augmented Humanity’ Strategy
If advising a start-up, I would recommend adopting an “augmented humanity” growth strategy first. This entails integrating advanced technologies to enhance human capabilities while fostering a dynamic workplace culture. By leveraging AI and data analytics for customer-centric hyper-personalization, and employing wellness technologies to support employees, the start-up can create an environment where stakeholder satisfaction is paramount. This strategy not only catalyzes creativity and innovation but also ensures sustainable growth through a motivated and inclusive team, making it a powerful approach for early-stage success.
Ambra Caserta
Director of Strategic Partnerships, Futeur.ai
Make Your First Sale Quickly
Make your first sale as soon as possible. When you have someone pay you for your product or service, even if it’s not a large amount of money, that is proof of concept that you have a viable business idea that can generate revenue. If no one will buy what you’re selling, then you don’t.
Sean McColl
Managing Director and Chief Growth Officer, Trusted Business Advisors
Implement Storytelling in Referral Programs
One unique growth strategy I would recommend for the start-up is to implement a referral program that harnesses the power of storytelling. By encouraging existing customers to refer friends and family through personal narratives about their experiences with the product or service, the start-up can create a more compelling and memorable message. Storytelling adds authenticity and emotional appeal to referrals, making them more effective in driving customer acquisition.
This strategy not only leverages word-of-mouth marketing but also helps build a community of loyal customers who are emotionally connected to the brand. By integrating storytelling into their referral program, the start-up can differentiate itself, strengthen customer relationships, and achieve sustainable growth in the long-term.
Kare Ullerup
CEO, Beyond Culture Plateau
Form Strategic Partnerships for Growth
In my experience, working with other businesses can open doors to new markets and customers. When I started my company, forming alliances with legal firms helped us reach a wider audience quickly.
Partnerships allow you to tap into established customer bases without the high costs of traditional marketing. For example, we partnered with firms that already had trust and credibility in the legal field. This approach gave us instant credibility and access to clients we couldn’t have reached on our own. It’s a smart way to grow your customer base efficiently.
To make these partnerships work, be clear about what you can offer and what you expect in return. It’s important to find partners whose goals align with yours. Be ready to show how the partnership will benefit both sides.
Jared Stern
Owner and Marketing Manager, LawsuitLoans.io
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