What is the overall growth goal of your business? If you are not growing, you are stagnating. According to Rob Biederman, CEO of HourlyNerd, “the key with any growth strategy is to be deliberate. Figure out the rate-limiting step in your growth, and pour as much fuel on the fire as possible.”
Many B2B businesses focus on increasing market share via mergers and acquisitions. While merger and acquisition (M&A) activity fell by 17% percent in 2016 because of economic and political uncertainty, in 2015 global merger and acquisition activity was at the highest level since 2007.
The Gallup Business Journal recommends that B2B companies need to go beyond M&A to achieve sustainable growth. To attain organic growth, you have to win customers from your competitors, and then help those customers grow by generating more business for them. Gallup advises taking an analytics-based sales approach by taking action in the following key areas:
- Build reliable customer intelligence
- Incorporate advanced analytics into market research activities
- Integrate analytics personnel into sales and account management activities
Growth comes from understanding the needs of your customers. How are you solving their pain points? Do you have a grasp on the competitive pressures of their market? If you need help answering these questions, contact us.