Growth companies – those that outperform peers in revenue improvement – are very effective at expanding the market that they compete in. Yes, they can grow market share by winning RFP’s through some mix of marketing and selling skills, but the accelerator growth comes from moving prospects with latent needs to prospects with active needs.
Market share laggards may have some growth ahead by simply winning business from competitors, but growth leaders also know how to turn buyers with latent needs into buyers with active needs.
These growth companies and their sales and marketing teams are very effective at challenging the status quo in prospect companies. The resources, insights and education they offer the marketplace initiates the buyers’ journey.
How effective are you in this critical area of sales and marketing? Have you built the capabilities needed to support this important area of marketing practice?