At a glance
DVJ Insights’ Brand Growth report finds that the more business-focused a company’s marketers, and the more marketing-conscious the boardroom, the more likely a company is to grow.
Innovation is also important to growth, but without adequate funding in development, launch, and post-launch, failure is likely.
Why it matters
It is common for people to dismiss academic research that doesn’t pertain to their brand or category, and contradict growth theories in the name of tight budgets. This research illustrates why that kind of thinking is a mistake, and explores how high-growth companies are deploying the theories of growth to superior effect than those that don’t. It’s a wake up call for brushing up on the basics of strategy because there is still massive value in them.
- Winners are far more likely to focus on lead generation, conversion, followed by revenues and profit; losers tend to look for loyalty.
- Winners focus on sales and revenues – seeking effectiveness – while losers tend to fixate on costs and efficiency.
- Innovation is extremely important for growth, but it is difficult to do, costs money, and requires marketing support.