Creating an Actionable Roadmap for Company Growth
Download as PPTX, PDF4 likes1,572 views
The document outlines the need for a new actionable roadmap for company growth, emphasizing a shift from product-focused to customer-centric strategies. It discusses rethinking the traditional marketing mix (the four P's) to better address customer needs through solutions, access, value, and education. Additionally, it highlights the importance of effectively implementing new strategies and systems to drive business growth in the evolving economy.
![16
Focus on value instead of price
We occasionally have customers tell us that our product is too
expensive, and they're sure that they can find a similar service on
the web for free... price isn't just a number, it's a strong
connotation of brand and value . . before wondering if we should
lower the price we [ should be ] . . . concerned with whether we
should increase our product's value.”
— Walter Chen founder iDoneThis Productivity Tool
ReThink the Four P’s](https://image.slidesharecdn.com/roadmapforcompanygrowth2-151015164629-lva1-app6891/85/Creating-an-Actionable-Roadmap-for-Company-Growth-16-320.jpg)
![19
Focus on education instead of promotion
“One of the old truths of marketing is the "law of 7". Someone
needs to see or interact with your brand for 7 times until they
eventually sign up or buy what you have to offer … content
marketing [brings] that number down … providing someone with
free, and useful information, creates a much stronger bond and
connection than any banner ad or press mention ever could."
— Leo Widrich, founder of Buffer social publishing tool
ReThink the Four P’s](https://image.slidesharecdn.com/roadmapforcompanygrowth2-151015164629-lva1-app6891/85/Creating-an-Actionable-Roadmap-for-Company-Growth-19-320.jpg)
Creating an Actionable Roadmap for Company Growth
- 1. Creating an Actionable Roadmap for Company Growth Andrew Ciccone, Hudson Valley Public Relations
- 2. Following the massive recession of 2008-2009 business is anything but usual. We are at a nexus between the old and the new. Companies must decide what elements from the old business models and the new technologies will grow their businesses. Today we need a new roadmap to navigate our way through this new economy. The New Economy 2
- 3. Overview > Why we need a new roadmap > What is an actionable roadmap > The shift from product focused to customer centric > Re-thinking the Four P’s > An Actionable Roadmap + Where do we grow our business + How do we grow the company + Implementing the new plans > Summary / Questions ? 3
- 4. Businesses need a new framework to strategically assess how to best grow their business in the new economy. A “roadmap” enables everyone to clearly understand what decisions need to be made, who needs to make them and when. An Actionable Growth Roadmap 4
- 5. 5
- 6. Make your businesses customer centric. Focus on the customer and understand their needs. A customer centric company is more likely to be sustainable because the company can adjust its efforts or offer different services to the customer to retain them. The right type of product can be created for each type of customer. Customer Focused 6
- 7. 7 Apple is Customer Focused Apple’s customer-centric practices help ensure that Apple is loved by their fanatical fans and will continue to be. > Upper management read customer emails regularly. > They take care of their employees – which has an positive effect on the customer.
- 8. ReThink the Four P’s 8
- 9. ReThink the Four P’s Your growth solutions are buried inside your current approach to product enhancement and development. Product, place, price, and promotion need to be re- interpreted. 9
- 10. ReThink the Four P’s Shift the emphasis from . . . > products to solutions > place to access > price to value > promotion to education 10
- 11. 11 "Customers don't care about product features or usability if a product fails to solve their problem. It's not about the features you want your product to have, it's about the problems that customers need to solve. Solve their problem better than anyone else and you'll end up with a product your customers can't live without.” — Ruben Gamez founder of Bidsketch Focus on solution instead of product ReThink the Four P’s
- 12. Amazon embeds customer-centricity into their DNA. > Amazon CEO Jeff Bezos leaves one seat open at the conference table and states that the seat is occupied by, “the most important person in the room – the customer”. > Amazon develops products based on customer desires rather than their development team’s opinion. Amazon focuses on solutions 12
- 13. 13 Focus on access instead of place “In an age where many businesses operate around always-on, high speed Internet access, "place" is irrelevant . . . It’s not about Place any longer. Now, it's about Access. What can a brand give me at this precise moment that I want or need? That's the bar companies now have to clear, and it's not easy.” — Jay Baer, President Convince Strategy Consulting ReThink the Four P’s
- 14. 14 Focus on access instead of place Customers want your business to be accessible. They want to know that you provide excellent customer service. To achieve this, they need to see you engaging with other customers to get a sense that you'll be there should something go wrong. How available is your team to customers? How attentive are you to customer feedback? How good is your company's support? ReThink the Four P’s
- 15. UPS knows their way into the hearts and minds of their customers – social media. UPS uses social media as a tool to > anticipated customer needs > provide better customer support > and to optimize efficiency. UPS is Accessable 15
- 16. 16 Focus on value instead of price We occasionally have customers tell us that our product is too expensive, and they're sure that they can find a similar service on the web for free... price isn't just a number, it's a strong connotation of brand and value . . before wondering if we should lower the price we [ should be ] . . . concerned with whether we should increase our product's value.” — Walter Chen founder iDoneThis Productivity Tool ReThink the Four P’s
- 17. 17 Focus on value instead of price Are you clearly articulating the benefits of your offering relative to your prices? Price. The old four Ps place too much emphasis on the literal price of the product (or service). Comparative pricing is not the best way to frame your prices. "Context pricing" shows customers why your business is offering a superior value versus the competition. ReThink the Four P’s
- 18. 18 Procter & Gamble’s business strategy is to improve the lives of the world’s consumers. P&G West Africa’s Baby Care Group set up Pampers mobile clinics to reduce high rates of infant mortality and help babies thrive. Pampers is at the center of a mission to save lives. Not surprisingly sales have soared. P&G— Purpose, Values, Principles
- 19. 19 Focus on education instead of promotion “One of the old truths of marketing is the "law of 7". Someone needs to see or interact with your brand for 7 times until they eventually sign up or buy what you have to offer … content marketing [brings] that number down … providing someone with free, and useful information, creates a much stronger bond and connection than any banner ad or press mention ever could." — Leo Widrich, founder of Buffer social publishing tool ReThink the Four P’s
- 20. 20 Focus on education instead of promotion The old methods of marketing were limited to interruption marketing. Today we need to be involved with customers' needs at each point in the evaluation and purchase cycle. Attraction-based marketing delivers content relevant to their interests to create a sense of familiarity and build trust. The customer of today has far more say in the business-customer relationship. Start embracing frameworks that care more about what the customer wants. ReThink the Four P’s
- 21. 21 Starbucks cares about their employees and empowers customers — > Starbucks is dedicated to its baristas, offering full health insurance benefits and stock awards. > Starbucks encourages consumers to be environmentally conscious by offering a 10-cent discount to those who bring their own reusable cups. Starbucks Educates and Illuminates
- 22. Regardless of the approach, a roadmap identifies core elements within the business framework for developing a plan for making strategy actionable. Develop the right process maps to accurately reflect how value is created for customers through business processes. 22 Actionable Growth Roadmap
- 23. Actionable Growth Roadmap organic growth acquisitions optimize financial structure How to GrowWhere to Grow Implement Growth 23 what we have where to focus how to structure divest non-profitable units implement new structure clearly communicate vision accountability develop new business strategies
- 24. Actionable Growth Roadmap what we have where to focus how to structure organic growth acquisitions optimize financial structure How to GrowWhere to Grow Implement Growth 24 divest non-profitable units implement new structure clearly communicate vision accountability develop new business strategies
- 25. What we have People impact how your customers identify with your company. How effectively your people satisfy your customer’s needs directly impacts how successful your business is. Where to Grow 25
- 26. Where to Grow 26 Where to focus Define the financial impact of each element of the strategy. Identify the critical cause-and-effect relationships Between process actions and desired results. Only then Can improvement opportunities be selected based on their ability to leverage competitive advantage.
- 27. Where to Grow 27 Where to focus Differentiate your business through what it does as much As how it does it. Achieve operational excellence across all value delivery processes. Assess the current levels of performance relative to the levels desired.
- 28. Money Ball > Where to Focus 28
- 29. Money Ball > Where to Focus 29 Identifying ways to improve production results in higher profits. Baseball managers used to correlate batting average to scoring runs. Today ball clubs recognize that a player’s ability to get on base is a much better predictor of how many runs he would score.
- 30. Where to Grow 30 How to structure Identify and engage the right people with the right Reporting systems, disciplines and accountability to evaluate, track and continuously improve process performance.
- 31. Challenge the Status Quo 31 Assess your data with a fresh perspective. The acquisition rate of new customers is the most Important metric for a new business. As the company matures, its emphasis should shift to better managing the customer it has. Offer additional services and focus on retaining customers.
- 32. Actionable Growth Roadmap divest non-profitable units implement new structure clearly communicate vision accountability develop new business strategies organic growth acquisitions optimize financial structure How to GrowWhere to Grow Implement Growth 32 what we have where to focus how to structure
- 33. How to Grow Eliminate inefficiencies > Focus on cost efficiencies > Move from product-centric to selling solutions > Leverage technological productivity in the + supply chain + logistics + manufacturing 33
- 34. Use data to grow value exponentially 34 Link data from the customer, vendor and other Stakeholders to identify new insights on how to enhance the customer’s experience of a product or service by surfacing data about that experience.
- 35. How to Grow 35 Implement new structure Develop the measurement systems and data which Identify the interdependencies between process behavior And performance against company and customer needs. Define the financial impact of each element of the process.
- 36. Leverage technological productivity Collaborate with channels and customs — Bring together the catalytic forces of social, mobility and analytics. Enhance the experience throughout the business process from discovery to delivery and on-going service relationships. 36
- 37. Clearly communicate vision Leadership must translate strategic objectives into operational terms. They must communicate the strategy in a manner that is meaningful to every member of the organization — these are the people who must execute the strategy. How to Grow 37
- 38. How to Grow 38 Accountability Individual accountability must be established at all levels. Operational and organization development performance indicators must be developed as well as more financial and customer satisfaction measures.
- 39. Develop new business strategies Determine how, where and by how much the core Elements can influence the strategic objectives. Understanding the interdependencies of how processes are designed and linked to one another helps to identify and eliminate any inefficiencies. 39 How to Grow
- 40. Actionable Growth Roadmap organic growth acquisitions optimize financial structure How to GrowWhere to Grow Implement Growth 40 what we have where to focus how to structure divest non-profitable units implement new structure clearly communicate vision accountability develop new business strategies
- 41. Organic growth & acquisitions > Extend sales to new geo-markets and customer segments > Introduction of complementary products / services to existing customers. > Acquire strategic new products, services and partners 41 Implement Growth
- 42. 42 Optimize financial structure Fully integrate process-based reporting disciplines and Tools into process management action planning and erformance management systems. Implement Growth
- 43. Actionable Growth Roadmap organic growth acquisitions optimize financial structure How to GrowWhere to Grow Implement Growth Begin the process again . . . 43 what we have where to focus how to structure divest non-profitable units implement new structure clearly communicate vision accountability develop new business strategies
- 44. Actionable Growth RoadmapQuestions? 44 Gilbert B. (2007). A Roadmap to Business Growth. Refresher Publications. Conrado E., Etteason R., Knowles J. (January - February 2013). Rethinking the Four P’s. Harvard Business Review. Castle V. A Roadmap for Making Business Strategy Actionable Retrieved on Pcotaber 8, 2015 from http://www.isixsigma.com/regional-views/europe/roadmap-making-business- strategy-actionable/. Sources
- 45. Andrew Ciccone | Hudson Valley Public Relations @AndrewCiccone hello@hudsonvalleypublicrelations.com Hudson Valley Media http://hudosnvalleypublicrelations.com http://linkedin.com/in/andrewciccone 845.202.7087 ^ Connect