Growth Is Essential Yet Elusive — How Will Your Company Grow Revenue?
Growth is the lifeblood of any company — it fuels the revenue engine and flows profit to the bottom line. But growth, while essential for value creation, will remain elusive for the remainder of this year and into the next. Companies have had a bit of breathing room in the last 12 months — most of the recent revenue growth has been price driven as cash-rich post-pandemic consumers have proven highly resilient to inflation. But all that is about to change as an increasingly skittish consumer begins to feel financially overextended and anxious about the future.
Marketing and growth strategists now face an eternally vexing question: Where’s the next source of revenue? And that’s precisely the central question I will address during my presentation at this year’s Forrester’s CX North America event in Nashville, TN. At the same time, we will publish my new research report, “Unlock Your Revenue Growth Potential,” as a companion to my presentation.
Some of the topics I will discuss both in my session and the report include:
- Making sense of a perplexing economic environment. Today’s macroeconomic indicators paint a perplexing picture, prompting experts to call this a “very weird economy.” What implications does this confounding economic environment have for your growth strategy?
- Knowing how to grow the right way. Growth can be hard to come by, and even when you do grow, it doesn’t always augur well. Alarmingly, half of the companies that grow revenue destroy shareholder value by not creating profitable growth.
- Balancing acquisition with retention. The emphasis on one or the other often depends on the category and competitive dynamics you face. But for most, new and existing customers will play a role in growing revenue.
- Using a five-pronged strategic marketing framework. We’ll give new life to tried-and-tested (dare we say “classic”) marketing strategies to create a framework with five levers that are most appropriate for these new and unusual times.
- Deploying best practices to maximize success. Learn from others who’ve done this right before by focusing on your core and maximizing headroom while ensuring that you create the organizational conditions necessary for implementing the growth strategies.
My session at CX North America is on Tuesday, June 13 at 11:30 a.m., and I hope to see you there. If you haven’t registered yet, you can do so here. And if you can’t make it to the event, visit my Forrester page and follow me to be notified when my report is published.