Innovation, regeneration, and inspiration
Updated: Apr 26
Whilst trend watchers predict 2023 to be a celebration of innovation, those at the commercial coal face are more likely to say that it feels like a year of cost pressures and growth challenges. When we face uncertain times, no organisation is immune to the forces of change and disruption. Organisations with one eye on long-term growth and the other on efficiency typically prevail.
Here are our key take-outs from first-quarter client conversations:
1. Creating value and balancing cost When facing cost pressures, the natural tendency can be to focus on digitalisation as a means of cost reduction. Whilst there’s an important place for this type of innovation, as a counterbalance, we’re challenging clients to identify the critical, if not beautiful, elements where there’s tangible value in human delivery – and to ensure these interactions are genuinely impactful when the opportunity presents itself.
Why? Customers are less rational than we think; human connection, delivered well, can be incredibly powerful.
2. Invest in your brand
A strong brand works to shortcut customer decision-making, creating a preference for your products or services over competitors and, ultimately, reducing price pressure. Branding works by creating a special or unique place in the minds of our customers, which takes time and relentless consistency. That’s why maintaining brand investment and understanding the dimensions of your brand health is critical, be it good or challenging times. If you don’t have the luxury of brand research to guide you, Google can offer an excellent cost-effective starting point. Offering valuable competitor insights is a helpful predictor for brand awareness and consideration.
3. Focus on sales and marketing efficiencies It is mission-critical for organisations and commercial leaders to ensure they derive maximum value from the ‘should-be power couple’ of sales and marketing. Misalignment between these two functions results in commercial impact dulled and money wasted.
Our recent projects suggest an average of ~ 20% in efficiency improvement by addressing how these two teams work together. Create a commercial flywheel, focussing on inefficiencies, inhibitors, and cultural and commercial alignment.
A recent project at one of Australia’s largest Telco providers delivered just this, Accelerating Sales Integration. If you would like fresh eyes on your brand, marketing or sales strategy, get in touch.