Business growth can occur in two dimensions: horizontally or vertically. On the vertical dimension, you employ marketing tactics to sell more offerings to an existing set of customers. Using tools to get your existing customers to buy from you more often or to buy your other products may involve methods that create loyalty, and are just one way to grow your business.
On the horizontal dimension, you employ tactics that get new customers to buy your products or services. Focusing on brand awareness campaigns or tools that get your business noticed are some of the methods used in this dimension.
Understanding the difference and creating a marketing focus to either grow your business along a horizontal or vertical dimension can be the difference between a comprehensive and well-integrated marketing plan and one that just uses random efforts in the hope that one will stick.
Do you differentiate your growth strategy based on your desired growth dimension?
