One of the fastest growing eCommerce companies in Australia is Koala and if you’ve been following our content, you’ll know we did an in-depth audit on how they grew their revenue from zero to $13 million in their first 12 months through a pretty impressive marketing strategy (see the 16 takeaways from that article here).
Successful growth teams never sit still and in the now very competitive mattress-in-a-box market we knew that for Koala to stay ahead as the market leader they must be experimenting with new growth ideas, tools and tactics and scaling up all the winning ones.
So a year later i’ve taken a look at 5 new tactics that Koala is using to successfully grow.
This article originally appeared as a guest post on ConversionXL.
One of the major benefits of working in a digital growth consultancy is that you get to see businesses across all industries and all stages of the business lifecycle trying to grow their companies.
Across these businesses, I see both good actions taken that really help a company grow but also a lot of common elements that really hinder growth.
In this article I will give you insight into 9 of the most common things I see that are holding businesses back from growing, and what i’ve done with clients to solve these issues.
The first self-service supermarket opened back in 1916 with a chain of supermarkets called Piggly Wiggly, which are still open today. Since then, supermarkets have dominated the world with both small operators and big names like Walmart competing fiercely for consumers.
With small margins and new competitors popping up all of the time, supermarkets have had to optimise and improve their businesses constantly with every part of a supermarket meticulously planned and fine-tuned to maximise profitability.
Everyone wants to find a secret weapon in their marketing – something that will take all of their campaigns across all channels to the next level and generate them returns never seen before. But, does this mythical and often searched for secret weapon exist?
In my view – yes it does, but before we get into that, let’s have a look at a common mistake made by marketers around the world. That mistake? Focusing the majority of their time and money on short term, one-off marketing campaigns. It’s something I see companies around the world making – they spend heaps of time, scrambling to get campaigns designed, developed, and launched only to have them run for 14 days before starting the whole process again.
The problem with that? Every single hour and dollar they have spent on those campaigns has a limited time period to make them a return on their investment. As soon as the campaign is done, they’re onto the next one, reinvesting more time and money to generate them a limited return.
This article originally appeared on Medium.
The digital age has brought with it business disruption on a scale that’s never been seen before.
It’s no longer uncommon to see ‘unknown’ startups rapidly grow and overtake competitors in long-established industries — seemingly overnight.
But how do they do it?