My conversations with clients frequently turn to the topic of their Core Business Objective (CBO). Earlier this year during one such occasion, a long-time client mentioned their CBO was to hit a very specific revenue milestone by 2022. This growth would mean tripling their annual revenue over the next three years.
Their current business is healthy and thriving, yet they knew their existing momentum would be insufficient to reach this CBO. Both strategy and speed would need to level up considerably.
With an understanding of their business and CBO, I recommended they invest in two new channels to scale their reach into additional audiences. These specific campaigns don’t fall within our current agency offering, but I was able to make the connection to a couple of my contacts at reputable, industry-leading firms specializing in these channels.
I had the chance to meet up with this client again several months later. I was inspired by their resolve for action. They relayed the success of the new campaign they launched into one of the mass-market channels we had discussed. Our conversation then shifted to an additional major new opportunity to expand their brand presence and revenue. I’m looking forward to the next update!
It’s no surprise. Success tends to follow brands with clearly communicated, consistently conveyed CBOs.
A meaningful, big-picture business objective inspires the innovative ideas and action required to reach your destination.
Brands enjoy tremendous leverage when everyone – from internal teams to external partners – is accelerating forward with the same location plugged into the GPS.
The digital landscape under our feet continues to be alive with change. Brand success requires the courage and skill to navigate this dynamic digital terrain. Driving forward into unknown territory requires resolved determination in the direction of your intended destination.
Continued growth almost always involves change. Change is risky, but not nearly as risky as refusing to sever the rope anchoring your business to the dead weight of past success. What got you here is insufficient for the journey ahead.
What’s your brand’s core business objective? When do you want to get there? Is your current momentum sufficient to get you there on time?
Changing Your Estimated Time of Arrival (ETA)
If the ETA to reach your destination is unacceptable, you have one of two options: drive faster or take a more direct route. Better yet, do both. Driving faster takes courage and capital. This is the baseline competitive requirement for growing brands.
Taking a more direct route may sound like common sense, but finding it can be challenging, especially if you don’t know the terrain. But there’s a pretty reliable method to uncovering one: ask your customers. They’re the locals, after all. Success is the inevitable outcome for brands that know exactly where they want to go and are committed to following the lead of their customers to get there.
Be forewarned: Following your customers may very well lead to major changes to the way you operate. Change is risky, but not nearly as risky as sticking to the same old path, even if it’s filled with potholes and bottlenecks. Your business stalls the second you can’t shed the dead weight of misaligned strategies.
Align your business goals to maximize customer happiness… and remember to give your core business objective a high-five as you pass it!