22 Nov 2017
There are 12 Marketing Strategies for Business Hyper Growth to employ for your organisation (just like there are 7 Business Leadership Styles, 12 Business Hyper Growth principles, 12 Cultural Growth qualities and 12 Strategies for Sales Hyper Growth).
Once you begin to implement your new marketing plan it is very important to measure, analyse and evaluate the changes in your marketing results. That is, has your top line sales increased, inquiries, emails, web clicks but no emails or conversion.
One of the main elements you will quickly notice is in the engagement chain of events and where the main disconnect is! This is very important, once you have identified which 2 stages have the largest disconnect (i.e drop off rate of flow of interest to conversion). You can then build and develop new philosophies, systems and protocols to ensure this flow from prospect to lead to new client, customer or member.
Analysts utilise key financial metrics to compare and evaluate your business’s performance. What is measured is where the resources are invested and thus analysts will know whether your utilising your resources well!
Thus it is an imperative to have excellent metrics and analytics to ensure your resources are invested well (financial, time and human). Your Marketing Plan review analytics will be give you a heads up on the current market and new markets that maybe forming to ensure you can capture this new market and prepare appropriately. And, naturally allow you to allocate and invest resources with current and new markets with high returns on capital in mind.
Even if the result from a increase in sales point of view hasn’t hit key markets initially, you maybe building brand awareness, strength and power to influence in the medium and long term. And, thus creating what’s called “Lag Time Revenue”. The “Popcorn Effect” is always in play with your market and to be kept in the forefront of your business mind.
Being consistent and constant will ensure these two natural forces of “Lag Time Revenue” and “The Popcorn Effect” will unfold and unveil the new revenue streams quicker for your business.