Of course, you focus on growing revenues via your company’s products and/or services and by expanding your employees’ engagement in your business (and therefore your customers’ satisfaction).
However, have you ever thought of growing your revenues by growing the category your products compete in? The EOD Business Development Practice has significant experience in revealing this important (but often untapped) source of growth for its clients.
As a compliment to your brand or consumer marketing and customer selling, here we ask you to think about marketing and selling your category to your shopper (who, whether it is the same person as your consumer or not, is always motivated by different media and people while in the shopping/buying mode vs. what they are motivated by when they are in the consumption mode). The shopper is the person or persons (could be a company’s Purchasing Department) who are responsible for considering the various product or service offerings and then making the buying decision.
Yes, of course your competitors (by the very fact that they also compete in your category) will most likely win by you growing the size of the category. However, as the one driving the category growth, your brands, your products will garner more than their fair share of the category growth.
Besides, if you don’t lead growth in your categories, know that your competitors (with help from consultants like us) will! And then your brands will grow but not at the rate of your competitions’. In other words, you will lose market share which is a good leading indicator of future performance (and hence why we also recommend it as a scorecard measure).