Companies scale at different speeds. There’s no magical template every company can follow religiously that leads them to the promised land of billion-dollar valuations, a massive buyout or the most successful IPO on the New York Stock Exchange in a decade.
Growth is so often dependent on a multitude of factors: how quickly a company can attract and land funding, acquire a strong customer base, launch new products, enter new markets, make new hires and subsequently demonstrate that growth to investors, the press and other stakeholders.
The biggest mistake fast-growing companies make is assuming that the marketing and public relations strategy that once worked will continue to do so as they scale. This is not the case. A company in a new phase of growth must address what admittedly might seem like similar problems in new ways. Recognizing what that problem looks like is just as crucial as actually solving it, so here are 10 signs you’ve outgrown your marketing strategy.
- Your value added proposition is no longer converting at the rate it was.
- You’re getting calls to price against a rival versus standing on your two feet as the #1 choice.
- Your team is working hard but the profit margins aren’t reflecting that.
- Team morale is down, sales teams aren’t producing and recruiting talent is becoming harder.
- Your brand and image are pigeonholing you and preventing you from breaking into targeted fresh markets.
- Your sales team keeps asking for fresh ideas and ways to open doors they normally could without help.
- You can’t deliver compelling and fresh case studies and client testimonials.
- Your company hasn’t put forth a compelling pipeline for the board and things feel stalled.
- You’re not sure if you’re growing or waiting to be acquired.
- Too many closed door meetings are taking place and not a lot of solution minded energy is swirling.
If any one of these signs seems like it’s a fitting description of what you or your company is experiencing, shoot us a note. We can ensure your marketing strategy is scaling with the rest of your business.