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5 strategies companies are using to scale their business now

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Since Covid-19, brands have become more creative in reaching new audiences and staying relevant. Marketing ideas that worked in pre-pandemic times are now considered irrelevant, and what worked last year doesn’t necessarily mean it’s guaranteed to resonate with your audience today. Scaling has become more important than ever for survival. Here are five ways companies are scaling their business.

Related: How to Adapt Your Marketing to the Post-Covid Era

1. Offer a wider range

Before the pandemic, you saved up your points to redeem for flights, upgrade them, or exchange them for a toaster for yourself or as a gift for your loved one. However, Qantas realized that due to Covid-19 many people are building up huge amounts of points and are not so willing to fly around the world in these uncertain times. With this change in consumer behaviour, Qantas has partnered with some of Australia’s elite private schools to help parents pay their high school fees† Instead of redeeming those points for a kitchen appliance, now parents can jump-start their child’s education.

To apply this concept to your business, dive deep into what your customers want and then offer them a service or product that drives customer retention.

Related: Do you want customers to stick around? Get their feedback from day 1 (and keep doing it)

2. Attracting New Audience

Growing up, KFC has always positioned itself as a family restaurant that brings kids and parents together around the table with its chicken takeaway and family-friendly restaurants.

Fast forward to 2022, KFC is now partnering with Grammy-nominated American rapper Jack Harlow to promote its fast food brand. The restaurant’s spotless image is somewhat challenged by the new partnership with Harlow, whose sometimes daring lyrics might not sit well at the family table.

This strategic move for KFC will make the brand attractive to a whole new generation of KFC consumers while at the same time making it attractive to existing ones.

Sometimes it’s worth pushing the boundaries of your brand identity to see what other good points you can tap into so you can resonate with new audiences outside your domain.

Related: 10 Ways to Get Global PR Exposure

3. Embracing Diversity and Inclusion

Until recently, Abercrombie & Fitch did not have any diversification in its advertising. Now, however, the fashion retailer is LGBTQ+ friendly — with a Pride range of gender inclusive products and using minority groups in its ads to redefine its purpose and celebrate Pride Month. In addition, the retailer launched its Equity projectan initiative dedicated to social and racial justice while empowering all to vote. A&F has come a long way, especially when you consider the extensive backlash the brand has faced refuse to accommodate plus sizes at some of its retail locations. However, that changed in 2014, when the retailer started offering larger plus sizes for some women’s clothing† Fran Horowitz, CEO of A&F, stated that A&F is no longer a brand you have to belong to – it’s a brand where everyone really belongs.

Consumers want and crave a sense of belonging to make them feel part of a community without excluding others, so embracing inclusivity and diversity is an absolute must.

4. Go Green

More and more companies realize that their customers want them to be sustainable and greener. Let’s take A&F for example. The company is committed to prioritizing sustainable energy consumption and the use of environmentally friendly products† Apple also jumped on the green cart by running Carbon neutral operations since 2020 and commitment to make carbon neutral products by 2030† Some of his plans to “leave the world better than we found it” include using renewable energy, designing low-carbon products, and avoiding direct carbon emissions.

Not all of us have the opportunity to immediately switch to 100% carbon neutral. Still, there are strategies we can promote as entrepreneurs that implement our business, while still making a positive impact on the planet.

Related: 15 Startups Contributing to Sustainability

5. Exploring possibilities beyond the physical world

The metaverse seems to be gaining momentum by the minute and many forward-thinking brands are already in place.

Nike is at the forefront of brands demonstrating that a “sell the lifestyle” ethos can work just as effectively in the digital world as in the real world

This trend is also making NFTs popular. Companies around the world are now jumping into the NFT space to get the early adopter advantage and take advantage of what is quickly becoming a long-term trend. Even famous personalities like Gary Vee, Lionel Messi and Justin Bieber are launching their own.

As technology advances rapidly, we can expect NFTs and the metaverse to revolutionize business models and change careers. NFTs have already disrupted several industries, including art and music. The metaverse has yet to officially launch around the world, but it promises to redefine how we work, live and socialize. NFTs will power of the metaverse economy

Learning how NFTs can increase your brand awareness and customer loyalty will help you create unique consumer experiences. One of those ways to spread the word about your business is by: create digital versions of your brand’s products and save them as NFTs† Given the enormous commercial potential of NFTs, it would be a mistake for brands not to include, or at least consider, NFTs in their overall business strategy and operations.

Since Covid-19, the world has realized that we are more connected than we imagined, and marketing, PR and advertising strategies that have worked before are no longer making it. Consumers have quickly adopted technology, and in order to survive and scale, companies must listen to what their customers want and deliver it to them when they want it. With these strategies outlined above, you can scale your business in both the physical and digital domains.

Related: Why Your Business Should Prepare for the Metaverse

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