Sustainable Growth Plan for a Development Company
If you’re a development company owner and want to achieve sizable growth in 2022, you’re in the right place. Experts of Beluga Lab open up some critical growth strategies and paths for web design businesses to help you succeed this year. Here are the top tactics to beat the market and deliver extra value for your clients and your company.
Development Company’s Positioning for Success
To make your web development company a success today, you need to follow several essential marketing techniques promising massive growth opportunities.
#1 Cost Analysis
You can’t earn money if you don’t know how much every unit of ordered work costs your company. How much will you spend on extra pages of content? What will a web designer charge for urgent visuals and infographics? Answering these questions transforms your profitability from guesswork into math.
For instance, if an hour of web designer’s work costs you $40 and your overheads are around $20 per hour, then you can’t charge less than $60 per hour of your agency’s work. To be more precise, this is a zero point at which you won’t lose, while at the same time you won’t earn anything as well. To achieve profitability, you need to set prices at a level higher than that. In this example, charging $70 per hour would give you $10 of net revenue.
#2 Proper Positioning
Don’t forget that your branding approach determines the way your clients see you. So, it affects what the clients will expect from your development company’s services. For instance, if your central message is “affordable service,” you should be ready to work with low-budget clients trying to save every penny. If you talk about “specialist expertise,” then don’t be surprised to attract demanding clients with specific tech stack requirements.
In other words, the positioning of your agency is a long-term investment into your client profile. You need to create an image that attracts the clients you want to work with, thus setting a proper match between demand and supply.
#3 Data Analytics
There is no future without a good understanding of your web development company’s past. So, to see the growth direction, you need to be strongly focused on the analysis of your past work. Assign a seasoned professional to audit the previous orders and single out the strengths and weaknesses of your service. A closer look at these issues will help you identify and eliminate weak points in the service, thus setting a strong start for growth.