Innovative ways to grow your business in 2022

There are currently more ways of growing your business than ever before, but that doesn’t mean it’s always easy. 

Businesses don’t become profitable overnight, and it takes a mixture of innovation and determination to grow your business to that stage, in a sustainable manner. In this article, we take a look at some innovative ways to grow your business, from using the right recruitment strategy to the power of referral schemes.

Employees

One of the best ways to help your business grow is by hiring the right employees. Hiring someone who’s intent on doing the bare minimum might work for certain, very basic roles, but hiring someone who’s keen to contribute to the success of your business can have a massively positive effect. 

Suddenly, you won’t be the only one trying to come up with ideas and solutions; with the right people on your team, you’ll have plenty of bright ideas, and able people to put them into practice. Bonuses can be a good incentive for employees to promote company growth – that way, the success of the business has a direct impact on them. 

Referral schemes

Referral schemes can be a very effective way of achieving growth in your business. They provide a direct financial incentive for consumers to try your product or service, often saving money for both the referred and the referee. 

They can be effective for both startups and well-established businesses – PayPal and Airbnb are two examples of large companies that regularly offer referral incentives. The incentive doesn’t necessarily have to be a cash payout either; it could be for company credit, or any number of other perks. Take a look at some of the best referral schemes for 2022 to see examples of what established programmes look like, and how they work in real-time. 

Get creative on social media

Social media can be a great method of marketing that simultaneously helps to develop a sense of community. Don’t be afraid to get creative with your social media campaigns. People are constantly bombarded with content nowadays on social media, so to catch someone’s attention, you need something attractive and innovative. 

Of course, your product also needs to be shown in a way that converts that interest into a sale; it’s a fine line to toe, but when done correctly, can lead to impressive growth.

Get up to date with sustainability

Sustainable marketing is all the rage nowadays, and for good reason. People often want to deal with companies that promote both socially and environmentally sustainable practices, and given how saturated most niches are with competition, if they can’t find it with you they’ll simply look elsewhere. 

Your approach to sustainability can also be innovative. Even if your product or service isn’t inherently sustainable, you’ll be able to find a way to make your approach to business sustainable. This could be in carbon offsetting, donating a percentage of proceeds to charity, or any number of other innovative ideas.