A roadmap to success begins with charting your course with data.
Foundation of success
Digiboost has always taken a data-first approach to supporting our clients. Without a full understanding of a company’s current market position, competitors, existing promotional efforts, and results to date, success wouldn’t be possible. You’d be taking wild guesses about your place in the market and how the market perceives your business’ products or services. In the meantime, you’d waste significant time and valuable resources to gain this understanding through trial and error. As you may have guessed, this is an expensive way to do business. The most streamlined way to gain this understanding is to engage in serious market research first.
Marketing research solves these challenges
Data is required when developing a new growth strategy. Learning more about what is succeeding in the marketplace provides options. Data-driven methodology is the only means of lowering your risk exposure.
The only way to objectively understand where your business stands amongst the competition is through defined metrics. Without this objectivity your organization will suffer confirmation bias, reinforcing self-serving beliefs about your company’s market performance.
To develop key performance indicators (KPIs) you require research-backed data to know the areas your company must improve to grow.
As most businesses achieve an initial level of success selling products or services, they usually will hit a plateau: a point where surges in growth are slow or have stopped altogether. This is usually due to companies serving the initial need for their services within the leadership’s sphere of influence. This sphere of influence can be other market professionals, previous customers, or possibly being able to take advantage of an immediate market gap. Once this initial phase of growth slows or comes to a close, the real work begins. It’s at this point that the need to connect with a new audience, fully outside your initial sphere of influence. This planning process can best be started with initial research and using that data to define a marketing strategy.
How to get started
In our 30-minute call, we’ll: