Companies looking to grow faster than the market or businesses that are struggling to achieve their full growth potential may have underdeveloped commercial processes. Customers’ changing buying behavior require an updated approach to communicating the value proposition through the marketing, sales, and customer service functions. Applying growth tools as part of a commercial excellence journey will help you accelerate profitable revenue growth.
Strategic Marketing – A robust go-to-market strategy defines where to play and how to win. It clearly defines your competitive differentiators and value proposition in the eyes of your customer. It provides a roadmap for serving target customer segments, focusing the organization on the best potential customer segments for profitable growth.
New Product Development – A well-defined new product development process focuses resources on an efficient path-to-market. It ensures the new product fills an unmet need in the market. With defined deliverables for each stage in the process, it streamlines precious resources, eliminating waste, and maximizing profitability in the development and launch of new products or services.
Pricing Excellence – Extracting a fair price for customer value created requires a disciplined approach to pricing. Analyzing the opportunity creates a “size of the prize” target. Differentiated pricing based on customer segmentation allows for differently priced options to serve various segments. Change management approaches are often required to help customer-facing teams effectively communicate the full value of products and services.
Digital Marketing Transformation – Finding new customers requires a collaborative approach between sales and marketing while creating new channels for customer communication. Transitioning from traditional to digital market communications allows improved connection with a new generation of buyers who increasingly expect information to be easily available on digital channels.
Sales Enablement – The role of the sales professional has fundamentally changed, and sales processes must adapt to meet customer’s changing buying preferences. Leveraging sales best practices will improve “at bats” and “hits” to close more sales pipeline opportunities at higher prices.
Applying these growth tools is part of a Total Growth Transformation Approach as part of a comprehensive business transformation plan.