Top-3 Marketing Data to drive business growth

The biggest part of the growth roadmap is to define the Hows: How business is developing and How you can drive the Growth. So that you can work out the plan of actions: What should You do to deliver the growth. Marketing data is an essential requirement for successful business growth journey. It is your navigation system and your road signs.

Here are the key marketing data to help you to navigate on your business growth path:

1. Your Sales data should be Both in Value and in Volume (units). Keeping only one of these sales indicators will mislead your conclusions. E.g. are you growing at expense of P&L, Can you do uppricing or price promo, How should you review your product offer etc. - you need both value and volume to answer this type of questions.
2. Total market size: It allows you to understand the potential, the growth opportunities that you have in this market.

• Market share defines your position in the market and shows if there is a scope for more growth, how much room you have for growth. Leaders, Followers and New players have different growth strategies.
• Dynamics of the total market is crucial for adjusting your growth strategy to the market trends:

- Are your sales stable in a growing market? Well, you are behind the market and running into a risk of losing customers..

- Do you grow in a slow / declining market? Great that you manage to make the best of this market but think of exit-strategies..

3. DISTRIBUTION. Distribution numbers tell you about your product availability for shoppers. No sales can happen if the products are not available for purchase.

• Loss of distribution causes sales declines not only in the short term (till you fix distribution) but the long term as well: it endangers your whole consumer decisions funnel creating opportunity for customers to try and switch to your competitors.. How many will return back to you, when and what expense?
• Higher distribution goes in line with better brand awareness - which is a starting point of your consumers purchase decision journey. For new products every single gain in distribution is a new big step for growing sales. Simply speaking, there is a direct correlation between distribution & sales. Thus, if you want to grow sales - build distribution, ensure brands availability in shops / for purchase.

Strategic consumer data can help you to make sure you can effectively deliver sustainable growth:

• Brand KPIs to assess consumer decision funnel and to address relevant conversion bottlenecks
• Consumer segmentation to ensure you target right consumers with right offer with right communication and at the right place

There is a lot more information you can use to develop & improve your marketing strategy. Remember: The growth starts with knowing your customers and understanding all the stages of the customer decisions journey and as such - what drives the business.

Learn?What are the key stages for growing your sales and How to use them to leverage Your business success at our?online-program Business Growth Generator?. In this?online-course?we summarize all 20+ years of our experience in strategic business consulting into easy-to-follow practical steps to Get more clients, Increase sales and Build Your brand.

At MarQt iQ we have been helping Businesses to gain in-depth understanding of consumers & markets and to find the best solutions to deliver the growth. Talk to us!

www.marqtiq.com

MarQt iQ is a boutique business strategy agency in Amsterdam led by its founder Sid Gupta & principal consultant Tatyana Kozlova. Each 20+ in international marketing strategy & intelligence for Fortune-400, SME and startups. Ex-Kantar, ex-Nielsen, ex-Philips, ex-British American Tobacco

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