Creating an Actionable Roadmap for Company Growth

Creating an Actionable Roadmap for

Company Growth

Andrew Ciccone, Hudson Valley Public Relations

Following the massive recession of 2008-2009 business is anything but usual. We are at a nexus between the old and the new. Companies must decide what elements from the old business models and the new technologies will grow their businesses.Today we need a new roadmap to navigate our way through this new economy.

The New Economy

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Overview> Why we need a new roadmap> What is an actionable roadmap> The shift from product focused to customer centric> Re-thinking the Four P’s > An Actionable Roadmap + Where do we grow our business + How do we grow the company + Implementing the new plans> Summary / Questions ?

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Businesses need a new framework to strategically assess how to best grow their business in the new economy. A “roadmap” enables everyone to clearly understand what decisions need to be made, who needs to make them and when.

An Actionable Growth Roadmap

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Make your businesses customer centric. Focus on the customer and understand their needs. A customer centric company is more likely to be sustainable because the company can adjust its efforts or offer different services to the customer to retain them. The right type of product can be created for each type of customer.

Customer Focused

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Apple is Customer FocusedApple’s customer-centric practices help ensure that Apple is loved by their fanatical fans and will continue to be.

> Upper management read customer emails regularly.> They take care of their employees – which has an positive effect on the customer.

ReThink the Four P’s

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ReThink the Four P’s Your growth solutions are buried inside your current approach to product enhancement and development. Product, place, price, and promotion need to be re-interpreted.

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Shift the emphasis from . . .

> products to solutions > place to access > price to value > promotion to education

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"Customers don't care about product features or usability if a product fails to solve their problem. It's not about the features you want your product to have, it's about the problems that customers need to solve. Solve their problem better than anyone else and you'll end up with a product your customers can't live without.” — Ruben Gamez founder of Bidsketch

Focus on solution instead of product


Amazon embeds customer-centricity into their DNA.

> Amazon CEO Jeff Bezos leaves one seat open at the conference table and states that the seat is occupied by, “the most important person in the room – the customer”.> Amazon develops products based on customer

desires rather than their development team’s opinion.

Amazon focuses on solutions

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Focus on access instead of place “In an age where many businesses operate around always-on, high speed Internet access, "place" is irrelevant . . . It’s not about Place any longer. Now, it's about Access. What can a brand give me at this precise moment that I want or need? That's the bar companies now have to clear, and it's not easy.”

— Jay Baer, President Convince Strategy Consulting


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Focus on access instead of place Customers want your business to be accessible. They want to know that you provide excellent customer service. To achieve this, they need to see you engaging with other customers to get a sense that you'll be there should something go wrong.

How available is your team to customers?How attentive are you to customer feedback?How good is your company's support?


UPS knows their way into the hearts and minds of their customers – social media.

UPS uses social media as a tool to > anticipated customer needs > provide better customer support > and to optimize efficiency.

UPS is Accessable

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Focus on value instead of price We occasionally have customers tell us that our product is too expensive, and they're sure that they can find a similar service on the web for free... price isn't just a number, it's a strong connotation of brand and value . . before wondering if we should lower the price we [ should be ] . . . concerned with whether we should increase our product's value.” — Walter Chen founder iDoneThis Productivity Tool


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Focus on value instead of price Are you clearly articulating the benefits of your offering relative to your prices?Price. The old four Ps place too much emphasis on the literal price of the product (or service). Comparative pricing is not the best way to frame your prices. "Context pricing" shows customers why your business is offering a superior value versus the competition.


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Procter & Gamble’s business strategy is to improve the lives of the world’s consumers.

P&G West Africa’s Baby Care Group set up Pampers mobile clinics to reduce high rates of infant mortality and help babies thrive. Pampers is at the center of a mission to save lives. Not surprisingly sales have soared.

P&G— Purpose, Values, Principles

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Focus on education instead of promotion “One of the old truths of marketing is the "law of 7". Someone needs to see or interact with your brand for 7 times until they eventually sign up or buy what you have to offer … content marketing [brings] that number down … providing someone with free, and useful information, creates a much stronger bond and connection than any banner ad or press mention ever could." — Leo Widrich, founder of Buffer social publishing tool


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Focus on education instead of promotion The old methods of marketing were limited to interruption marketing. Today we need to be involved with customers' needs at each point in the evaluation and purchase cycle.Attraction-based marketing delivers content relevant to their interests to create a sense of familiarity and build trust.The customer of today has far more say in the business-customer relationship. Start embracing frameworks that care more about what the customer wants.


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Starbucks cares about their employees and empowers customers —

> Starbucks is dedicated to its baristas, offering full health insurance benefits and stock awards.> Starbucks encourages consumers to be environmentally conscious by offering a 10-cent discount to those who bring their own reusable cups.

Starbucks Educates and Illuminates

Regardless of the approach, a roadmap identifies core elements within the business framework for developing a plan for making strategy actionable. Develop the right process maps to accurately reflect how value is created for customers through business processes.

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Actionable Growth Roadmap


organic growth acquisitions optimize financial structure

How to GrowWhere to Grow Implement Growth

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what we havewhere to focushow to structure

divest non-profitable unitsimplement new structureclearly communicate visionaccountability develop new business strategies





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What we have

People impact how your customers identify with your

company. How effectively your people satisfy yourcustomer’s needs directly impacts how successful

your business is.

Where to Grow

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Where to Grow

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Where to focus Define the financial impact of each element of thestrategy. Identify the critical cause-and-effect relationshipsBetween process actions and desired results. Only

thenCan improvement opportunities be selected based

ontheir ability to leverage competitive advantage.

Where to Grow

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Where to focus Differentiate your business through what it does

as muchAs how it does it.

Achieve operational excellence across all value delivery

processes. Assess the current levels of performance

relative to the levels desired.

Money Ball > Where to Focus

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Money Ball > Where to Focus

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Identifying ways to improve production results in higher profits.

Baseball managers used to correlate batting average to scoring runs. Today ball clubs recognize that a player’s ability to get on base is a much better predictor of how many runs he would score.

Where to Grow

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How to structure

Identify and engage the right people with the rightReporting systems, disciplines and accountability

to evaluate, track and continuously improve process performance.

Challenge the Status Quo

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Assess your data with a fresh perspective.

The acquisition rate of new customers is the most Important metric for a new business. As the

company matures, its emphasis should shift to better

managing the customer it has. Offer additional services and

focus onretaining customers.





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How to GrowEliminate inefficiencies

> Focus on cost efficiencies > Move from product-centric to selling

solutions > Leverage technological productivity in the

+ supply chain + logistics + manufacturing

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Use data to grow value exponentially

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Link data from the customer, vendor and other Stakeholders to identify new insights on how to

enhance the customer’s experience of a product or service

by surfacing data about that experience.

How to Grow

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Implement new structure

Develop the measurement systems and data which

Identify the interdependencies between process behavior

And performance against company and customer needs.

Define the financial impact of each element of the process.

Leverage technological productivityCollaborate with channels and customs —

Bring together the catalytic forces of social, mobility

and analytics. Enhance the experience throughout the

business process from discovery to delivery and on-going

service relationships.

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Clearly communicate vision

Leadership must translate strategic objectives intooperational terms. They must communicate the

strategy in a manner that is meaningful to every member

of theorganization — these are the people who must

executethe strategy.

How to Grow

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How to Grow

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Accountability

Individual accountability must be established at all levels.

Operational and organization development performance

indicators must be developed as well as more financial

and customer satisfaction measures.

Develop new business strategies

Determine how, where and by how much the core Elements can influence the strategic objectives.Understanding the interdependencies of how

processesare designed and linked to one another helps to

identifyand eliminate any inefficiencies.

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How to Grow




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Organic growth & acquisitions > Extend sales to new geo-markets and customer segments> Introduction of complementary products /

services to existing customers.> Acquire strategic new products, services and

partners

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Implement Growth

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Optimize financial structure

Fully integrate process-based reporting disciplines and

Tools into process management action planning and

erformance management systems.

Implement Growth




Begin the process again . . .

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Actionable Growth RoadmapQuestions?

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Gilbert B. (2007). A Roadmap to Business Growth. Refresher Publications.

Conrado E., Etteason R., Knowles J. (January - February 2013). Rethinking the Four P’s. Harvard Business Review.

Castle V. A Roadmap for Making Business Strategy Actionable Retrieved on Pcotaber 8, 2015 from http://www.isixsigma.com/regional-views/europe/roadmap-making-business-strategy-actionable/.

Sources

Andrew Ciccone | Hudson Valley Public Relations @AndrewCiccone [email protected] Hudson Valley Mediahttp://hudosnvalleypublicrelations.com http://linkedin.com/in/andrewciccone845.202.7087

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