Driving Growth: Eight Best Practices

 

Driving Growth: Deploy the eight best practices but pay special attention to Rule 5

Here are eight best practices to drive growth – extracted from a recent post –  http://t.co/Ngi6Oesumh http://t.co/jrstaY7Kh2 :

  1. Don’t ask your customers what they want (because they don’t know until you show them).
  2. Woo your biggest fans (because they’re absolutely worth it). Few companies count the value of their best customers’ purchases and the value of the purchases that those customers promote through word-of-mouth advocacy
  3. Always welcome your customer’s scorn (because you’ll come back stronger).
  4. Looks do count (because people really do judge a book by its cover). Consumers use their eyes in every purchase. They look for beauty. They dream about a better world for themselves and their loved ones
  5. Passion equals knowledge. Knowledge equals solutions. Solutions translate into sales
  6. Better ramp up your virtual relationships (because that’s what your customers are doing). The world has moved to 24/7. The consumers with the most disposable income have the least amount of time. But they have high-speed Internet lines at home and at work. And they want to buy what they want to buy when they want it
  7. Take giant leaps (because you’re not going to win with timid steps). There are those who advocate continuous improvement, incremental advances, and consolidation. But no one ever changed the world that way. No one ever really built an apostle brand that way. To do these things, you must show foresight, fearlessness, and fortitude. Big wins require big dreams
  8. Brands are always moving up, up, up or down, down, down. But once the dark winds are in your sails, it is almost impossible to break their hold. How do you know where your brand is headed—up or down? Learn how to use select few quantitative metrics which record your percentage of supporters and critics. Track them like the third leg of your P&L-revenues and profits, the share of the properly defined universe, and advocacy. If you are not improving, you are in decline.

I really liked the Best Practice Number 5 viz.  Passion equals knowledge. Knowledge equals solutions. Solutions translate into sales. It is really the heart of every sales initiative. Everyone knows this but very few really can make it happen.

I recommend that each of us should endeavor to find out what do we need in our thinking and behavior to make this practice work all the time.


Strategy-in-Practice @TSA

A selection of contemporary thoughts and ideas, researched and developed by  Thought Leaders and Leading Business Schools

Selection Made By

Prof Ranjan Das, Professor of Strategy, Innovation, Entrepreneurship and Leadership and Chairman and Chief Mentor– The Strategy Academy