When starting a company, a business, or an organization, an entrepreneur has hope that one day their business will be able to grow and expand to the extent that it can become a business empire. Today I am going to state and explain to you ways through which ServiceNow can actually grow from a billion-dollar company to a trillion-dollar company like Alphabet Inc.
ServiceNow is an American software company that has developed a cloud computing platform that is focused on helping businesses manage their online workflow. ServiceNow enables businesses and organizations to carry out their daily activities with ease. Some of the services that ServiceNow offers include:
It enables information and technology departments to service, build, and operate their online databases with ease.
ServiceNow enables customers to deploy their applications on the Now platform.
ServiceNow was established in 2003 and is located in Santa Clata.
Alphabet Inc. is the owner of Google, one of the most well-known online platforms that develops and improves software.
Alphabet was started on October 2, 2015, by Google's founders Sergey Brin and Larry Page, who serve as president and CEO, respectively.
Alphabet Inc. began as a small company, but due to the right and strategic decisions of its founders, it has grown into a trillion-dollar business empire. In the list below are examples of other big and well-developed business empires that started off as small businesses, but due to the good business strategies that they developed, they were able to establish themselves and become billion-dollar companies that are well known and respected.
Name of company: AppSumo
Year it was started: 2010
Estimated number of users: 800k
Name of company: Craigslist
Year it was started: 1995
Estimated number of users: 50+ million
Name of company: GitHub
Year it was started: 2008
Estimated number of users: 60+ million
Name of company: Product Hunt
Year it was started: 2014
Estimated number of users: 2.2 million
Name of company: Buffer
Year it was started: 2010
Estimated number of users: 80k
In order for ServiceNow to grow from a billion-dollar company to a trillion-dollar company like Alphabet Inc., it needs to follow certain steps in order to grow its business and advance through the list of the biggest business empires like Google, Twitter, Facebook, etc.
The steps that ServiceNow is required to take in order to become a trillion-dollar company include:
- Diversifying their products.
- Getting reviews and customer feedback
- Offering free samples to their customers.
- Starting affiliate marketing programs.
1. Diversifying their products
By increasing the variety of the products and services that they offer ServiceNow can be able to reach a wider range of potential clients, i.e., a company like ServiceNow can develop specialized software that is developed specifically for young entrepreneurs while at the same time offering software that can enable people from different walks of life to get news in real time.
Product diversification also enables a company to test out their newly developed software, products, services, etc. so as to come up with a better understanding of whether investing in the production, development, or distribution of a certain product or service will be profitable to them as a business and whether the products and services they produce will be beneficial to their customers. It's important to research whether the product satisfies the needs of the customers before embarking on investing the company's capital and resources in the production, distribution, and manufacturing of the products and services that they intend to sell.
2: Getting reviews and customer feedback
Getting customer feedback is a very strong and important business strategy that has enabled small businesses to grow and become billion-dollar companies that blossom and thrive in their specific fields of expertise, which range from:
- Production
- Manufacturing
- Processing
- Distribution
By getting reviews and customer feedback, one of the largest trillion-dollar companies in the world, i.e.,Alphabet Inc., has integrated getting reviews and customer feedback as part of their business strategy, which has helped them develop and establish their trillion-dollar business empire, which is well known in the tech industry for the software and website services that they develop, maintain, and manage.
In order for ServiceNow to develop and establish itself as a trillion-dollar business empire like Alphabet Inc., getting reviews and customer feedback is a very important business strategy that they should develop and start implementing in their daily business activities.
3. offering free samples to their customers.
Offering free samples to customers is an effective way to analyze and determine whether a product or service is good and profitable for a company, business, organization, etc. to invest in so as to avoid wasting important time and resources. Not doing proper research before investing a company's capital and resources is a huge risk, i.e.,there is a huge probability that the products or services that the company is offering may not be suitable and up to the standards of their prospective customers, thus leading to the company running bankrupt.
By offering free samples to its customers, ServiceNow can be able to survey and collect important insights into whether or not the product will be able to satisfy the needs and expectations of their customers.Giving samples can also help ServiceNow analyze and come up with a conclusive analysis on whether or not the product or service that they are developing has the potential to become profitable to them as a business or organization.
This knowledge can assist ServiceNow in making the right choices so as to avoid the risk of investing in the production and distribution of products and services that may not be profitable to them as an organization.
However, it is important to note that there are advantages and disadvantages to offering samples to customers, which are very important for ServiceNow to note.
Below is an example of how ServiceNow can create a list and use it to determine whether or not they should offer product samples to customers.
Offering samples
Advantage
1. Customer feedback.
2. Great market analysis.
Disadvantage
1. Is expensive.
2. Time Consuming.
4. Starting affiliate marketing programs
By beginning affiliate marketing programs, ServiceNow can be able to reach out to a larger number of prospective clients. An affiliate marketing program is whereby a company or organization employs individuals to advertise their products and services, and the individuals or organizations that are in charge of advertising the company's products and services are paid a commission for every purchase that is made under their name.
Most of the billion-dollar companies have taken on this business marketing strategy to help them grow and advance their clientele.
Conclusion
In conclusion, ServiceNow should focus more on their customers' needs and satisfaction, as this business strategy will enable them to grow their number of customers with little to no effort at all.
If the customers are satisfied with the products and services that ServiceNow offers, then they will keep coming back day after day, resulting in more sales and profit for their company.
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