Imagine you're running an ecommerce business, but it's not performing that great. Assuming you got a great product, what would be the first thing you'd do?
Organize a brainstorm session? 🤔
Great fun, but not so great to come up with tangible next steps. Open-ended discussions can make the scope of your solution spiral out of control.
Spend more on advertising? 🤔
You will attract new customers for sure, but chances are they won't stick around. If there are issues elsewhere, you'll lose money in the long run.
Sit down with people across divisions? 🤔
A great way to get some insights. But this is more about pointing fingers, rather than coming up with solutions.
I would instead recommend taking a more constrained, step-by-step approach. What we do at Bothrs whenever a company is struggling with growth, is this:
👉 Figure out what's working and what isn't, and start defining challenges.
👉 Use the customer journey as a heat map for these challenges and define a core focal point.
👉 Define a measurable, quarterly goal, and start creating small-scale growth experiments.
👉 Launch these experiments and measure their impact. Adjust when needed.