With the global economy in the doldrums and trade friction increasing, a new initiative is underway to help chief revenue and commercial officers be smarter and more adept at how they model and achieve transformational growth.
The campaign, “Growth Engineering: Mapping Routes to Revenue,” is powered by a new online Growth Guidance Center and thought leadership community launched by the CMO Council and Business Performance Innovation (BPI) Network, in partnership with Frost & Sullivan. The initiative also features a new report, How to Achieve Transformational Growth, presenting insights from domain experts and exploring the combination of vision, insight and innovation with cultural alignment and unified, disciplined digital execution.
According to recent research from the CMO Council, a quarter of all respondents believed the CMO is now primarily responsible for growth strategies and revenue generation. Research from the BPI Network indicates that the heightened expectation for growth is being accelerated and amplified by emerging technologies, such as IoT, artificial intelligence and 5G.
Shareholder expectations for persistent corporate growth has highlighted the need for revenue leaders to access on-demand knowledge, predictive analytics, customer insight and market intelligence to map growth strategies and drive innovation and transformation across the enterprise.
Growth strategy alignment requires buy-in across the organization and starts with a well-articulated strategy and direction that is understood and embraced by all functional areas of a company. Growth leaders and experts universally point to the need for a clear and succinct strategy that can be easily explained and grasped by all levels of the organization.
“You have to have clarity of purpose and direction. You also have to get alignment in terms of the strategy and what it means to implement it,” said Mark Simoncelli, SVP – Americas Consulting at Frost & Sullivan, in a news release. “If you can’t articulate what you’re doing as a company on one page, you’re going to have trouble.”
All of this sounds daunting, but staying on the sidelines watching competitors and category disruptors take market share won’t inspire change, traction and performance improvement. To address this need, the Growth Guidance Center will be a continuously updated resource dedicated to exploring the factors and forces that inhibit, disrupt, accelerate, diversify and sustain growth.
“While exciting new technologies, disruptive business models and emerging customer buying behaviors have opened the floodgates to growth, seizing these opportunities is not easy,” said Donovan Neale-May, executive director of the CMO Council and BPI Network, in the release. “The emergence of the chief growth officer title and role requires new disciplines, decision support capabilities, functional unification, digital process proficiency, as well as growth-receptive organizational cultures,” Neale-May adds.
The Growth Guidance Center will serve as a global resource for heads of growth, revenue and commercial operations. To initiate thinking around growth, the Center has developed a foundational list of four essential requirements when looking to identify, map, execute, measure and sustain growth momentum and business lift. These include:
- Effective use of on-demand knowledge, predictive analytics, customer insights and market intelligence are essential to growth strategy mapping and continuous innovation, transformation and calibration across the enterprise.
- Revenue growth and competitive sustainability is contingent on timely, reliable and projectable research and real-time monitoring of geo markets, product categories, enabling technology, customer behavior, and global economic and regulatory changes.
- Auditing, assessing, valuing and realizing growth opportunities requires new disciplines, modeling capability, data-driven decision making, digital proficiencies, receptive and adaptive organizational cultures, as well as critical internal stakeholder and partner alignment.
- Tracking, measuring and evaluating the value, relevance and effectiveness of research and product development spend relative to ROI, revenue contributions and business performance improvements is a strategic imperative across all lines of business.
Free subscriptions to the Growth Guidance Center offer:
- Updates and newsletters focused on best practices that lead to growth transformation
- Insights into the mega-trends that will directly impact growth through 2020
- Access to on-demand global intelligence from Growth Pipeline leader Frost & Sullivan
- Exclusive savings and offers from key growth resources and performance accelerators
- Peer-to-peer knowledge sharing and best practice studies and research reports