ONPASSIVE is a unicorn Information Technology (IT) organization that provides automated business solutions for many businesses. ONPASSIVE provides an AI-based marketing platform for many organizations and primarily aims to develop sophisticated technologies and offer practical business solutions.
Besides developing AI-based tools, ONPASSIVE also specializes in offering digital marketing solutions such as staff manager, live events, mass bulk emailing, legal and compliance, and various other professions. AI is gradually integrating with technology and is useful in multiple contexts in day-to-day life. ONPASSIVE significantly utilizes AI and supports various businesses in their growth by providing AI-based tools for their organizations.
Business Growth Strategy
A Growth strategy refers to any plan or actions that expand the organization and allows the companies to reach better market positions than the current market share. Growth strategies can be short-term or long-term, based on the organization’s requirements and decisions.
There are four types of growth strategies that many organizations follow. They are:
1. Product Development Strategy — a strategy that involves growing your market share by developing new products.
2. Market Development Strategy — many organizations follow this strategy. It is a process of developing new segments in the market and growing your market share by expanding your base.
3. Market Penetration Strategy — it is a strategy to grow your market by advertising, bundling products and lowering prices. It includes everything you do for marketing.
4. Diversification Strategy — it is a strategy that involves entering into an entirely new market as a part of growing your market shares.
Almost every organization uses one or all of the growth mentioned above strategies for their business growth. Business growth is fundamental to the survival of any business. It is the function of the business life cycle.
Business strategies are the ideas and initiatives and activities taken by the companies that help promote their business growth and increase their revenues.
Importance of ONPASSIVE in Business Growth Strategy
Business growth strategies are crucial to any organization for their growth in the market. ONPASSIVE ecosystem follows few out of the box approaches, also known as growth -hacking business growth strategies.
The growth strategies used by ONPASSIVE for business growth are as follows:
Ø Choose the Target Area of Growth
Any business growth strategy should be based on a specific area of growth. Some of the common focuses of many organizations may include
Ø Growth in the number of employees.
Ø Adding new branches to your business in different locations.
Ø Expansion of your business into new countries or regions.
Ø Expansion of current office or warehouse space.
Ø Introducing new products or services.
Ø Growth in revenue and profit.
Ø Growth of customer base.
To increase the productivity of a business, ONPASSIVE mainly focuses on growth in headcount of employees and possibly the addition of locations in future as a part of their business growth.
Ø Conduct Market and Industry Research
One of the critical growth strategies followed by ONPASSIVE is researching the state of industry and market to understand what approaches are working and what needs to be changed for the business to grow. Some of the ways to conduct research include running surveys and focus group with potential and existing customers and digging deep into existing industry research. The facts uncovered in this research will help your business shape your exiting project’s goals and determine your current project’s timeline and budget.
Ø Setting Growth Goals
ONPASSIVE aims to grow in the IT sector using Artificial Intelligence and develop many automated solutions for smooth flow and growth of businesses. Similarly, any organizations need to have proper business strategies and understanding of what they are growing, why they are growing and how to progress in the direction of growth. These goals should always be achievable and realistic. You can always quantify your goals in terms of metric and timeline.
Ø Planning Course of Action
Once you are clear on your goals, prepare a detailed growth strategy plan to understand the plan of action needed. This plan should mainly include a list of deadlines, action items, teams or people responsible for a specific task, and finally, the resources necessary for attaining your growth goal.
Ø Determining Growth Tools and Requirements
The last step before acting on business strategies is to determine the team’s requirements through the process of action and implementation of the plan. Some specific resources that help you reach your growth goals accurately and faster include
Ø Funding- the capital budget or internal investment needed by organizations for the project.
Ø Tools and Software- the technological resources that are required to gain insights from the growth process.
Ø Services- with the help of designers, planners, and consultants of specific fields, business growth can be achieved better.
Once the goal, planning and resourcing are done, you need to execute your company’s growth plan, which will deliver results for your business. Keeping the communication channels open and holding on to stakeholders is vital during the plan’s execution.
ONPASSIVE successfully implemented its Business Growth Strategy in the educational sector and came up with O-Cademy an educational website that offers various courses on different subjects. With world-class coaching guides teaching the students, O-Cademy provides the flexibility to schedule your classes according to your free time of the day.
To conclude
Any businesses need to properly strategize and build a business plan and consider all the available business growth options. Growth strategies may include product line expansions, Franchise opportunities, selling products on multiple online platforms and product line expansions. ONPASSIVE comes up with successful business growth strategies that will boost your business growth.
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