Being in a state of sustained growth is not easy. If so, all companies would. To succeed, you will have to skip many of the rules that have been taught in business school that are designed to minimize risk. In fact, to achieve your growth goals in the face of uncertainty and change, you must follow a new set of rules. That is why adopting strategies and practices that favor growth is much easier in startups in the initial phase than in large or medium-sized companies consolidated in their sectors. Hire the best growth marketing agency London which has an extensive knowledge in this sector.
Tips to promote sustained growth in digital channels
Before beginning to explain our advice to adopt measures that favor growth and adapt your leadership, you have to know how to identify the quick profits or the so-called “quick wins”. The tips we will give you below are designed to modulate your leadership style and create an environment that promotes growth within the company.
Embrace the chaos
Income planning, annual forecast approval, cost estimation – traditional businesses focus on order and regularity in management, operations and financial results. This desire for order and regularity is aimed at the efficient allocation of resources with the intention of having predictable fluctuations in income and expenses so that shareholders are happy. However, companies whose main objective is to achieve relevant growth must sacrifice efficiency for speed, which means that the traditional approach to order and regularity must be replaced.
Fast and acceptable is better than perfect
The speed at which you must adapt the product or service and communications make the product or service is not in its most optimal phase. That is why, as a result of this new leadership style, the concept of Minimum Viable Product was born. The market appreciated a response to a situation of urgency, and need and despite being charging a high price to customers for the efforts that would be provided, the vast majority of customers accepted this cost overrun.
Shared objectives and the participation of multidisciplinary teams
The shared mission, objectives and alignment at all levels of organizations is essential for a sustainable growth strategy. The most common challenges of companies are internal: the application of all these recommendations will not have any effect if there is no receptive leadership and team. There are many factors that prevent consolidated companies in mature sectors from adopting, methodologies to favor growth, the largest of which comes through internal management.
Customization, automation and adaptation of advertising
Process automation such as the use of marketing triggers applied to customer segments thanks to the correct use of CRMs such as Salesforce. In addition, growth requires multifunctional teams that work together on products, marketing, engineering, data, sales and operations. AI (artificial intelligence) and machine learning to accelerate the ability to test and optimize content to adapt it to the segment of suitable potential clients in order to create personalized communications. The Content is king. Proper use of content facilitate the branding.