growth-channels

Vocabulary Word

Definition

'Growth channels' are methods or routes that a business uses to attract more customers and expand. It's like creating different pathways to get more people to your store!

Examples in Different Contexts

For social impact organizations, 'growth-channels' can include community outreach, partnerships with corporations, or grant applications. An NGO head might express, 'Our reach expanded significantly through our growth channels in corporate partnerships.'

Practice Scenarios

Marketing

Scenario:

Our ad spending analysis reveals advertising on LinkedIn yields better ROI. Could it be related to our audience demographic?

Response:

Maybe. It could be that LinkedIn naturally aligns with our target audience, making it an effective growth channel.

Business

Scenario:

We need to reassess our current market strategy. Perhaps exploring new partnerships can expand our reach.

Response:

Agreed. Let's diversify our growth channels by forging partnerships and expanding our affiliate marketing efforts.