As we look ahead to 2023 and see continued economic uncertainty on the horizon, it is more essential than ever that companies take the initiative to generate new sales, expand into new markets, and diversify.
Companies shouldn’t wait to prop up their margins, or delay until after their growth is stalled to act. Focusing on more profitable markets through diversification is key to long-term success, adaptability, and revenue growth. 2023 is forecasted to continue challenging many, but those who are proactive will have a significantly stronger business than those that do not.
Here are 3 strategies that you should pursue in 2023 to ensure that the next year is a year of growth and success.
1. Lead Generation
Lead Generation is the act of cultivating prospects for your company’s products or services. And look, with all the time you spend on taking care of existing customers, maintaining a business development staff, and adapting to market shifts, it can be difficult to find the time to develop and enact a Lead Generation strategy.
DVIRC’s team of experienced Lead Generation professionals can help you establish a steady flow of qualified prospects. A few benefits of Lead Generation with DVIRC are:
- Curated Action Plans – We develop custom action plans to address competitive conditions, identify target markets, draft unique selling points, and structure DVIRC’s outreach.
- Reach More Prospects – DVIRC works as an extension of your sales team, assigning our lead generation professionals to work on your behalf to call on roughly 60 prospects each month and identify 4-6 new leads per month for your company.
- Customer Dashboard – Gain unlimited access to a project dashboard, customer database, and project tools that are reviewed twice monthly to instill business development best practices.
- Low Cost, High Impact – Dollar-for-dollar, DVIRC’s Lead Generation program is the lowest cost, highest impact sales and marketing investment any business can make.
Want to see how Market Research works? Click here to learn how DVIRC helped Germantown Tool Generate $6 Million in new revenue through market expansion.
2. Market Research
The underlying driver for any research engagement is a need to know. You need to understand the realities that exist in the marketplace, the true opinions your customers hold about your products, the technical opportunities that might exist to solve your persistent challenges, the markets that align with your capabilities and promise growth, the status of your competitors…the list of potential intelligence needs is long and varied in its complexity.
Unfortunately, few resources bring expertise in all of these research areas under one roof. DVIRC has the expertise to help manufacturers of all industries and sizes tackle this challenge. A few benefits of Market Research with DVIRC are:
- Key Insights – DVIRC’s Market Scouting service provides you with insights related to market feasibility and revenue potential. This service blends competitive research, stakeholder interviews, and expert analysis to drive informed decisions.
- Know Where You Stand – Voice of Customer Research delivers the feedback businesses need to address the wants and needs their marketplace and make strategic changes to drive topline growth through primary research. It is the foundation of any strategic planning activity and one of the fastest ways businesses can make a return on their marketing dollars.
- Competitive Benchmarking – Competitive Benchmarking helps business leaders understand the overall degree of competition within an industry. It takes into account barriers to entry, intensity of competition, estimated market size, and the trends impacting an overall business cycle.
3. Digital Marketing
Digital marketing encompasses all marketing efforts that use an electronic device or the internet, such as email, social media, or web marketing, and enables businesses to communicate clearly and more effectively with current and prospective customers.
Make your customers come to you with an optimized website and an effective digital marketing strategy that attracts prospects and entices them to buy what you’re selling.
If you haven’t started investing in your company’s digital marketing efforts yet, or you’re long overdue to update your efforts, 2023 is the year to do it. Here are a few benefits of digital marketing with DVIRC:
- End-to-End Support – Our dedicated team of digital experts learn about your business and your objectives and work with clients from project inception to completion.
- Target the Right Customers – We provide market segmentation capabilities to allow for industry-specific campaigns designed to achieve measurable results and a more successful outcome.
- Plan, Do, Check, Act (PDCA) Process – Quarterly PDCA-inspired planning and strategy sessions enable adjustments to be made in real-time to eliminate wasted effort and focus on what is working.
- Make the Buyers Come to You – Draw more leads and potential customers to your website, enable your website to perform better, and be more discoverable on search engines through Search Engine Optimization (SEO).
Thinking about entering a new market, enhancing your online presence, or being more aggressive about growing your sales? Contact our Customer Support & Success specialist Teri Grumbrecht or fill out the online contact form here.