Successful companies continue to demonstrate that having a differentiated value proposition is an essential function to a viable growth strategy. What this means is that companies that pursue a growth strategy to drive revenue are finding new sources of revenue through new markets and new customers, by increasing the “wallet share” of their existing customer-base, and by incorporating new products through the scope of a single, consistent message evident in every strategically executed campaign.
Growth strategies that are implemented by Best-in-Class performers focus on a unique mix of product, branding, price, customer service, customer relationships, etc., so that when it comes time to execute a campaign, any part of the organization, whether it is sales, marketing or IT, the CMO or the CIO, all are able to make decisions in line with a uniform message that the organization as a whole is trying to convey to its consumers.
Beyond consistent messaging, a strategically executed campaign that’s part of a comprehensive growth strategy is also a factor of cost.
Cost is a factor that is directly depended on the KPIs and metrics that we use to analyze whether or not specific campaigns or activities are going to yield the kind of results that we want to achieve. By measuring campaign execution against cost, we can implement campaigns that yield the best results while eliminating ones that aren’t going to be cost-effective for us in the long run. When we know that campaign X will yield better results than campaign Y, we are making a strategic decision based on ROI.
The third component to effectively drive revenue is accomplished through efficiency.
Efficiency is an outcome we achieve by employing automation technology to our business processes and workflow. In an effort to use the kind of tools that will move us away from applying time-consuming efforts, the right tools are used to minimize the long routes we often take in our business processes. Whether we are looking to drive more traffic to our company website or speed up the closing rate in our sales funnel, when we use the right tools to execute strategic campaigns we are operating within the scope of efficiency.
Once again, it is essential to execute campaigns that work within a combination of the following factors:
- Price, and;
- Customer Intimacy
These factors must be delivered in combination with each campaign execution in order to strive to differentiate your brand from the various competitors in the same market.
What kind of unifying principles do you implement in order to ensure that your campaigns are executed in alignment with viable growth strategies?