Market driven organizations have continually outperformed their peers in terms of sustained revenue growth and customer satisfaction. A cornerstone of this philosophy is understanding market facts about customers and competitors. According to George S. Day, the Geoffrey T. Boisi Professor Emeritus at the Wharton School of the University of Pennsylvania: “Rather than basing decisions solely […]
It is so important, as a Market-Driven Business, to stay laser-focused on precisely what your customers want so that you can solve their problems in ways that are instantly meaningful to them. At the same time, it is just as important that you know how, when and why they want to you to communicate with […]
According to a study, companies that adopt a market-driven approach to innovation delivered shareholder returns of 150 percent while the S&P 500 has delivered 14 percent. Most people think that innovation is like winning the lottery – brilliant people like Steve Jobs just know that the market needs an innovation like the iPod or iTunes. […]
Why do some enterprises consistently outperform their peers? Is the water better in their office than their competitors? How do some companies leverage innovation to consistently drive growth in revenues, profits, and customer satisfaction? Is it because their leaders, like Steve Jobs at Apple, were market savants that just knew what the market really needed? […]
Customer Acquisition Cost (CAC) is the key metric in revenue generation. Simply put, it is the total marketing and sales expense associated with new customers divided by the number of new customers over a specific period of time. For example, HubSpot’s CAC was reported to be $11,977. Most companies also track the ratio of Life […]
Market Driven Strategy can be defined as consistently successful companies that start with an external market orientation and vigilantly study customer trends in order to design their strategy. They look to understand customer’s needs, problems, challenges, and issues that if solved would provide new value that the customer would be willing to pay for. Conversely, […]
Since the times of Peter Drucker, starting in the mid-1900s, pretty much anyone in business has been told to listen to the market. All the experts have a formula of how to be market-driven, how to drive your business from the perspective of your target audience rather than making decisions purely through the lens of […]
You know you need a strategy; you’ve seen the magic that happens when everyone is rowing in the same direction. Creating that vision and direction seems so much harder when you’re at the helm; everyone wants the best plan, but oftentimes, their ideas and convictions don’t appear to mesh well. A strong strategy gives guidance […]
We all deal with technology, and most of us are innovating on some level. Reality is that sometimes, bad things happen. To deal with those challenges and figure out the best path forward, we have to bring up topics that might make people feel bad. Many humans are somewhat conflict averse; it makes us nervous […]
You’ve got products to manage! Customers to interact with, requirements to write, sales teams to train….executives to inform, marketing to collaborate with, and an entire company full of people who seem to have something to say about your next move – or perhaps your last one! Cross-functional teams are an essential tool in the product […]
