Are your customers delaying their purchases? Are they more price sensitive?
The research shows that you are probably being impacted by digital disruption without even realising it.
Business Owners and Leaders need to combat disruptive changes to grow revenue. They do this by developing a growth strategy to concentrate scarce resources with confidence on the few options that matter. This is called a Growth Plan. It is not a Business Plan.
A business will not succeed or fail based on the information provided in a Growth Plan, but a plan will help a business become successful through focused planning and forethought on the only thing that matters for revenue generation – the customer.
Here are the nine steps Blueprint to developing a world class Growth Plan to power your business:
Watch: The 9 step Blueprint for a Growth Plan
Price Sensitive Marketing Strategies by Phillip Kottler, Marketing Guru
- Your Business Goals: well-chosen goals point a business in the right direction,
- Your SWOT Analysis: define your Strengths-Weaknesses-Opportunities-Threats (SWOT) for gathering, structuring and reviewing a snap-shot of the current situation, and future potential of your business,
- Your Client Segments: enables the concentration of resources on the target market to grow your business,
- Your Growth Strategies: good strategy is about action. It provides a way through a difficulty and/or maximizes a growth opportunity,
- Your Objectives: provides a measurement for each Business Goal,
- Your Value Proposition: states why someone should pay attention to you – in the elevator, at a business conference or on your website,
- Your Competitive Analysis: shows how to gain a competitive advantage in differentiating your business from your main competitors,
- Your Digital Execution: keep customers and prospects engaged by using Digital campaigns across selected platforms such as Facebook, LinkedIn or YouTube,
- Your Tactics: turn the plans into a coherent few actions that make the difference in your strategy execution.
You don’t want to finish your growth plan, ever! (as outlined in this article). You can also assess your strategies with the one test that matters.