Clients often tell us that they want to deliver a strategic roadmap that elevates insights and guides their teams to greater success, but they find it challenging to know where to begin. Brand teams can also get derailed by urgent or short-term needs that distract from addressing critical strategies issues.
Our Brand Growth Navigator lays out 8 strategic issues that will drive brand growth.
But, how does a brand team decide which strategic issue should serve as the foundation to their plan and how will that feed into a roadmap that both drives growth and addresses pressing needs along the way?
Based on our experience, across various industries and competitive circumstances, we have seen that the best approach consists of these four components.
This approach works because it identifies the right starting point for your business and determines how to build from there to create a holistic growth plan.
1. Take Stock
Highlight priorities that are being touted from the highest level of your organization, including at shareholder meetings. Speak to key brand, marketing, and product constituents to find out what is directing their focus—what are they being asked to achieve for the organization? While this may be something you do already, and may sound like an obvious first step, it’s one that can’t be overlooked. Without this phase, the remaining steps become meaningless.
2. Review Existing Information
This will help you consolidate what you’ve gathered into a core set of issues that are strategically important to your business. By looking at what information you have, in relation to addressing these issues, you’ll be able to narrow your focus to which strategic needs should form the foundation of your plan.
This approach works because it identifies the right starting point for your business and determines how to build from there to create a holistic growth plan.”
3. Seek External Thinking
Share your thinking with a trusted partner, or two, as a way to expand your perspective on what you need and what is achievable. By stepping back and engaging an impartial, outside point-of-view you will be able to coalesce around the area or areas that are most critical as starting points for your plan. So, who are these trusted partners, agencies, MR Firms, consultants like BCG?
4. Build a Plan
Commit to a lead strategic area to serve as the foundation of your plan, based on what you uncovered in the first three steps. In doing so, think beyond just this foundational area and build linkages to the subsequent areas you’ll need to address. While getting to a starting point is essential, looking forward is equally critical to success. No strategic area lives on its own, as they all intersect in some way, so identifying which pieces will make sense as steps 2, 3, 4, etc. is as essential as finding the right starting point.
Here’s an example of how we guided a tech company in identifying the right starting point for growth:
Step 1: Take Stock
Step 2: Review Existing Information
Step 3: Seek External Thinking
Step 4: Build a Plan, with Customer Journey as the Foundation
This structured, comprehensive approach to strategic planning can lead to the right starting point and, critically, build a roadmap for brand growth.”
The brand team was able to identify the lead strategic need, as well as the ancillary strategic needs that would logically stem from this starting point. It meant a more comprehensive roadmap with a clear, meaningful foundation in Customer Journey that built out into other issues. The result is that the brand will be able to deliver a true strategic plan for his team to address immediate needs as well as drive growth in the future.
This structured, comprehensive approach to strategic planning can lead to the right starting point and, critically, build a roadmap for brand growth.
Want to discuss finding the right strategic point for your brand growth?