Thoughts
THE HURDLES TO GROWTH
Dear Growth Partners,
Building on last Thoughts about the importance of branding I’d like to share on a related topic: the hurdles to growth.
And by hurdles I mean avoidable hurdles, controllable hurdles, the kind of hurdles we face by lack of rigour, self-centric analysis (forgetting there is a world with customers and competitors out there reacting to our every move), intellectual laziness and more of these beauties.
So, where do we start?
- Have I done my research? Do I fill a need or do I create one? Will the value of what I do be perceived?
- Do I have the proper awareness, communicated clearly for my audience? Is my audience well targeted and segmented (a recurring customer does not need the same type of brand reassurance as a trialist who has never heard of a brand and needs immediate reassurance of credibility instead).
- Is my positioning clear? Will people understand what my brand and product, service or experience stand for? Am I assuming or have I validated?
- Is my pricing competitive and have I removed or lowered the hurdles to transact? Do I for example have a 6 click check-out knowing that science tells us that 2.8 clicks is kind of the optimal / maximal, where amazon has gotten us to accept a one click check-out?
- Am I credible? A new trialist will need immediate reassurance and proper understanding of your positioning, whereas for a customer this may be less true.
It is, amongst others, the combination of all these elements that when combined will give you an edge. It is not about being 10 times better, but 10 times more aligned, on all elements that contribute to your brand experience.
And then to continuously improve them, small increments at a time.
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