Where can I find organic growth and beat my competitors? At its essence, that’s the question that drives every business. It’s not an easy question to answer, especially given how complicated things are (Big Data, large global organizations, fast-changing customer behaviors, disruptive technologies). And throw into the mix the anemic growth plaguing many economies in the world today.
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We have a point of view on this (you can read the full white paper I co-authored: Discover, Design, Deliver: 3D Marketing & Sales for Above-Market Growth) and it comes down to building and linking up your three “Ds”:
1. Discovery: Building a data advantage by pulling in relevant data sets, analyzing the data at high speed, turning it into relevant business insights, and then delivering those insights to the decision makers so they can take meaningful action. The discovery needs to be based on a thorough understanding of today’s customer decision journey, and uncover segments whose journey you can reshape. Only 30 percent of companies believe they understand their customers’ needs and have a clear sense of where growth will come from.
2. Design: Creating business strategies, processes, pricing programs, products, and experiences that the brand delivers to customers. Design strategists start with learning what customers care about, how they truly behave, what their needs are, and what influences them. Fed by a continuing stream of insights, strategists in business units rapidly learn what is and is not working, innovate new solutions, assess their economics and feasibility, and then work with the frontline on implementation.
3. Delivery: Getting the right offering to each customer across a complex range of online and offline channels. Orchestrating the tailored delivery of products and offers across marketing and sales channels requires operational excellence and organizational agility
Linking them together is the critical component here. It’s not enough to have a great analytics team if their insights never make it to the front lines. And it doesn’t matter if your sales organization is out of this world if they trying to sell products that customers just don’t want. That breakdown was obvious in a survey we did recently. Almost 50 percent of companies said their customer database doesn’t help them make decisions. In addition, fewer than 20 percent said that the way they capture insights contributes directly to sales effectiveness.
As companies build capabilities in specific areas, they also need to have an eye towards how to fine-tune the entire organization to take advantage of those capabilities. It’s a little like when coach Herb Brooks chose the US ice hockey team for the 1980 Olympics. He didn’t select the best players; he chose the best players who played best together. The result was the “Miracle on Ice,” when the US team beat its Soviet archrivals and went on to win the gold medal.
This 3D model places equal emphasis on individual and team excellence. Companies need that kind of double strength if they want to beat their competitors.
So, what is holding back your organization from being 3D?
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