There is no question that 2020 has been a strange year – businesses and marketers have had to pivot like never before to adjust to the changing needs and demands of consumers during such a precarious time. As we’ve discussed here at LQ Digital, the time to ‘freeze and wait’ is over. Companies need growth to return or resume as soon as possible. We’ve covered this as part of our insights with our own CEO, Katy Keim on how to use marketing to drive measurable and sustainable business growth. Yet another really important element to driving growth is for businesses to adopt a growth strategy and playbook.
Think of your growth thesis as your north star, your road map for success. It gives you direction and helps you to highlight what you are trying to accomplish as a team and for your business. It should comprise of goals and tactics that are clear, measurable, within your control and ties into your companies business goals. One thing to keep in mind when you're building your growth thesis is that there are really 4 paths to growth and each company is essentially in one of these stages:
1) Fine Tune Profitability
2) Aggressively Scale
3) Deepen Relationships and
4) Introduce New Offerings
In our most recent video, we describe the first stage on the path to growth “Fine Tune Profitability” and identify the challenges as well as some of the solutions we've deployed to help clients excel at this stage. We also go into detail on how we led a recent B2B Investment Research firm to find their most valuable customers and create major growth and cost savings, such as:
- Integrating with backend data to get a full funnel view of LTV and define the right customer segments
- Increased sales accepted leads by 200%
- Decreased cost per accepted leads by 58%
- Tied revenue directly to paid media efforts, showing positive ROAS in the first 6 months.
Watch the video to learn more.
If you need help building your own growth thesis and need to fine tune profitability for your business, we've got you covered. Contact us to learn more. We also offer a free 2 week benchmark assessment along with key recommendations to help you find your best customers, just fill out our digital assessment here to get started.
