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Are You Building a Business That's Ready to Scale - or Just a Business That Has Had Great Growth?
There is a version of business success that feels like momentum but isn't quite there yet.
When to Hire a Fractional CMO
Tue, Jun 22, 2021 — Introduction: Greening Your Garden - How a Fractional CMO Can Accelerate Your Growth In the world of botany, there are only a fortunate few who have the expertise to produce green, healthy, and thriving plant life every time they put a seed in the ground. For the rest of us – well – we generally need MiracleGro or some other catalyst to make the garden grow. As a CEO, you, too, are invariably looking for your own version of MiracleGro – that evasive ingredient you need to help catalyze growth and turn your brown landscape a verdant shade of green. The good news? A confluence of trends, including the rise of the “gig economy” and the COVID-19 pandemic, have supported the notion of the fractional Chief Marketing Officer – essentially, a gardener supreme who brings the plant food, seeds, and water in a bid to help you sow success.
What Yoda Can Teach Us About Revenue Growth
Tue, Dec 10, 2019 — A long time ago, in a galaxy far, far away, a franchise was born. Since the release of a little space movie called “Star Wars” in 1977, legions of multigenerational fans have carried the franchise on their backs – and in their hearts – to a reputation as one of the world’s most recognizable brands. As a brand dependent upon fan zealotry, ANY corporate move (whether on the screen or behind the scenes) is bound to get extreme scrutiny on social media, message boards and elsewhere. That’s why I read with interest a recent Wall Street Journal article that examined the difficulty of the transition of the Star Wars franchise from its original ownership under its creator George Lucas, to a “tentpole” franchise now owned by Disney.
What CEOs Should Look for in a B2B Manufacturing CMO
Wed, Apr 3, 2019 — In 25 years of marketing, I heard from industrial manufacturing teams—whether it’s a salesperson, business manager or CEO—that marketing is just for B2C. Industrial B2B businesses need nothing more than sales tools and support. So, it’s no surprise that many industrial businesses think that strategic marketing leaders only apply in B2C businesses—so they have not yet considered what strategic marketing can and should do for company growth. And they may not know what skills to look for when it comes time to hire a CMO or marketing manager. Are strategic marketing leaders needed in industrial environments? And, if so, what should industrial companies look for when selecting a CMO or Marketing Leader? To answer those questions, I’d like you to first consider what is similar and different between B2C and Industrial B2B Marketing.
Revitalizing a Tired Business: 3 Steps to Identify the Problem
Tue, Feb 26, 2019 — Common Growth Problems Among Businesses Companies of all shapes and sizes watch as the growth of their business slows down, then gets stuck. There is an opportunity to turn around the situation, with a collaborative action plan. It’s essential to determine where and why you are taking on water. Perhaps a new competitor entered the market, enthusiasm is slowing among repeat customers, or your company’s stated benefit is no longer relevant. There could be a deceleration in organic growth, or additional usage and occasions have changed. What’s clear is that what got you to where you are most likely will not get you where you want to go! Businesses often try to address growth issues by cutting back on spending, or milking the company/product/service to maintain or get more profit out of declining revenues. However, this strategy becomes a self-fulfilling prophecy; the only direction you can go from here is continued—or accelerated—decline. It is not a viable, long-term way to address organic growth or loss of market share. As a doctor seeks to understand the challenges of a sick patient, they ask questions and observe behavior. They review options to treat to identify the actions that will most likely optimize and accelerate a return to health. To turn around the business, you’ll want to diagnose how you got into the situation—and what has changed—before you begin tackling the turnaround of the business.
How Does Your Brand Positioning Measure Up?
Tue, Jan 15, 2019 — 3 Sales Lessons from Harry Winston vs. Tiffany, Tesla vs. Mercedes Benz The latest issue of Harvard Business Review (Jan.-Feb. 2019) included one of the best Brand Identity methodologies published in the last few years: What Does Your Corporate Brand Stand For? The authors, Stephen Geyser (Professor Emeritus at Harvard Business School) and Mats Urde (Associate Professor at the Lund University School of Economics and Management) contend that developing and enhancing your corporate brand takes a concerted and lengthy effort between the executives and team leaders throughout your company. It is a far more extensive process if your team has international locations. Yet they share a systematic 9-box matrix exercise that your teams can use to examine your core brand identity along four paths: Strategy (Mission & Vision and Position) Communications (Personality and Expression) Competition (Value Propositions and Core Competencies) and Interaction (Relationships and Culture).
Sales vs. Marketing: Chicken or Egg First?
Thu, Nov 15, 2018 — What comes first, adding a sales person or having ready prospects and opportunities to pursue? I once worked for a company where Sales held all the power – more than product development or finance and certainly more than marketing. I recall a discussion with a long-time senior executive about the amount of marketing investment required for the company to profitably grow. She commented that the company had a tried and true method of driving growth. “We don’t need to invest in marketing. For every sales person we add, then revenue will grow!”, she proudly exclaimed. This had indeed been true at one time in the company’s history, but along with that revenue growth came increased expenses and decreasing sales productivity. The company eventually went through an inevitable and painful exercise of downsizing a much too large sales force.
Shift Your Brand Perception - Start with Getting Your Positioning Right
Thu, Sep 20, 2018 — In my previous post, we reviewed how brand perception specifically impacts company growth and profitability. Now we’ll cover the keys to building the foundation for communicating about your company. When companies start out, they usually have a very clear understanding of who their customer is, the problem they are solving, and possibly, how they are different. This is typically because they have a single product for a single market segment where they’ve achieved some level of success. But over time, as companies and markets evolve: The competition becomes more intense, either through matching capabilities, building new capabilities or new competitors appearing. Customer needs and priorities change. What was important to a customer 3 years ago may not be as important today. The company enters new market segments or geographies. There may be subtleties between industries, regions and countries in terms of priorities and pain points. The company broadens its portfolio of offerings. As more products are developed and more problems addressed, there might be new buyers and other selling dynamics.
Growth Engine Roadmap, Metrics, and Financial Benefits
Fri, Jul 27, 2018 — If you have been following this series of articles on sustainable business growth, you know that we have arrived at our fifth and final topic. If you missed the previous articles in the series, you can read Article 1 (The Difference Between a Growth Plan and a Growth Engine), Article 2 (Best Practices in Processes) and Article 3 (People and Organizational Best Practices), and Article 4 (Platforms: Playbooks and Tools).
How Platform Capabilities Sustain Business Growth
Tue, Jun 19, 2018 — If you have been following this series of articles on sustainable business growth, you know that we have arrived at our fourth topic: Platforms. If you missed the previous articles in the series, you can read Article 1 (The Difference Between a Growth Plan and a Growth Engine), Article 2 (Best Practices in Processes) and Article 3 (People and Organizational Best Practices).