Do you know how an innovative business growth strategy puts you ahead of the competition?
Innovative business strategies ensure productive business hikes. Whatever the niche is, in this era, being innovative is the only key to success.
According to a recent report, 72% of businesses fail due to a lack of innovation.
Surprisingly many big farms are there as well.
However, many startups get a good hike in their business due to their innovative productivity.
2023 is an age of renaissance in technology, mainly artificial intelligence.
As a result, many people use the same (but expect the best outcome).
As a digital marketing professional with years of experience, I’ve seen many strategic business models.
Some of them are complicated, and the rest are easy (to digest)
However, my question is, what would be yours?
This article is for you if you are a beginner and want to step ahead with your own strategy.
In this article, I will reveal one of the easy, convenient, and innovative business models that ensure your productive growth.
You’ll get all the answers step by step.
What are innovative business growth strategies?
Innovative business growth strategies make you stand out from the mass. Now the question is, what are the above?
I have a simple example.
Suppose you are an ecommerce agency looking for a decent amount of sales.
What do you need to do?
You have to make a strategy for your business to ensure more sales. Right?
In most cases, people make the common strategies that competitors do.
Once, it was working, but now, it is a trap.
People used to copy others.
The outcome looks alike.
As a result, the competition is getting more complex.
The same mistake is in every industry.
It’s fun. Everyone doing the same is in the same death circle (I am sorry to say that, but this is a harsh reality).
Therefore creating innovative strategies is super important.
Whatever your business niche is, you need to be productive.
How to Become Productive?
In search of innovative business growth, being productive is the key.
When it comes to productivity, you must make a to-do list first. In every business targeting everything is a big mistake.
Almost many of your (so-called) competitors are doing that.
Following these seven factors to be productive if you want to stand alone.
- Make a strong plan that triggers your branding and online presence.
- Fix your day-to-day scheduled activities.
- Check business analysis and make ad addition-alteration planning and strategy.
- Know your target audience persona well.
- Create content following your competitor’s gap analysis
- Outreach your target audience with the right content.
- Build communication with the audience.
All of the above is only possible if you know your industry well.
Steps to Make an Innovative Strategy
Before creating an innovative strategy, let me share an actual stat.
According to Google, around 30% of the content is duplicate.
Another research says in every industry, 25% of contents are duplicates.
Here is an opportunity.
Have you found an opportunity here?
Let’s break the ice.
Around 25% of your competitors are doing the same. You can easily be ahead of that 25% if you research well.
Here are the steps you can take to make an innovative strategy.
- Make a list of the top 100 competitors
- Analyze their business model and focus
- Follow all of them on social media (mainly on LinkedIn)
- Make a strategic gap analysis (including keywords, content)
- Create your first content that fits their gaps.
- Outreach the same audience (that competitors are targeting)
- Make various types of contents of the above
- Develop communication and
- Offer your product or service
Remember, create a hidden comparison that triggers your branding and the absolute value your customers will get.
Focus on Innovative Content
Content is the key to success. So creating the most innovative content is your first job.
Whatever the format is, the content must be unique.
Unique content delivers the most significant value that your audience must need.
Don’t forget to follow the steps for creating the most effective and innovative content.
- Follow five factors of your competitors and make an activity list
- Popular content type
- Ranking keywords
- Social media followers
- Special offers/events/webinars/press releases etc.
- Service/product details
- Make a robust content calendar
- Create content (main) following above
- Make supporting content, e.g., ppt, infographics, etc.
- Productive content outreach to develop communication.
I have a disclaimer if you use ChatGPT or any AI tools for content creation, make sure your content must be edited manually.
AI tools like ChatGPT combine all existing data and make content.
In most cases, the values are average.
You’ll never get innovative business growth if you can’t produce value for your audience.
Active in social media
Social media is very crucial for every business. Whatever your business is, being social is essential.
I’ve seen 52% of people use social media for the wrong purpose.
The significant activities of social media are not only to post your content.
Yes, that is the central part, though it doesn’t develop communication.
The proper use of social media puts you ahead of your competition.
Here are the right strategies for using social media for innovative business growth.
- Choose at least one platform as a priority (e.g., LinkedIn)
- Regularly, spend a couple of hours
- Reply, comment, criticize, answer the posts/events/pools, etc
- Attend every pool (as much as possible)
- Create unique content about your industry trends
Just remember, social media is a highly engaging channel of digital marketing. So you have to create attractive content that encourages engagement.
Understand Business Analysis
Finally, you have to understand business analysis well. Analytical data helps you to measure your business performance.
For every innovative business growth, the right analytics is crucial.
You can make your next steps with your analytical skills.
From content outreach to social media followers, all will be included in your business analytics.
Check the following:
- Add google analytics and a search console to your website
- Collect every social media platform’s analysis
- Make a weekly SEO audit with rank tracking
- Make a monthly business report
My Final Thought
Innovative business growth is everybody’s dream. If you are a business owner and want to get an evergreen business hike, you have to be innovative. This article includes all the unique methods that trigger business growth with innovation. If you have any queries, feel free to contact me.
I am a Digital Marketing Trainer, Digital Marketing Strategist, Career Coach, Affiliate Marketer, Content Writer, SEO Professional, Paid Advertisement Specialist, Social Media Expert, and Entrepreneur. I am the founder of Biva Technologies, Hungry Tourer and more. I assure quality and productive Digital Marketing Training and Services.
Since 2018 I have been providing quality Digital Marketing Training and Services at Biva Technologies. Some of our top-rated services are:
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