What does ‘growth’ mean to you?

Earlier this month, the ONS reported that - despite the uncertainty caused by Brexit - the UK economy is beginning to grow again. The first quarter of this year saw 0.5% growth, up from 0.2% in the previous three months – a small shift, but a step in the right direction at least. 

We’re all well-versed in economic growth, which refers to an increase in the capacity of an economy to produce goods and services. But what does ‘growth’ mean to an organisation? 

We put the question to our network of contacts, spanning CEOs, marketing and business development directors, HR managers, and everything in between. Unsurprisingly, increasing revenue and growing their customer base came out top – after all, this is where the money comes from. These were closely followed by launching new products and services, and growing their network of influence.

But growth can come in all shapes and sizes for a business. It can mean raising awareness of who you are, what you do, and how you do it. Perhaps you want to improve the reputation of your organisation to widen your license to operate, shape the policy environment in your favour or broaden the audiences you engage with. You might even want to grow your employer brand to help attract top talent to your team. 

Clearly, marketing and communications is an essential driver of growth – with almost two thirds of the people we spoke to ranking it as the most important one. But it’s not as simple as making some noise in the market. 

To be a true driver of growth, marketing and communications activity must be aligned with a business’s growth agenda. This can only happen if the teams involved build a deep understanding of that business’s internal goals and priorities as well as the external landscape in which it operates – and develop communications programmes accordingly. 

It might not be easy but, done right, smart communication gives organisations influence. It creates unity around a central purpose, enhances and protects reputations, and gives an organisation flexibility and the freedom to operate. It’s worth the effort. 

And brands are catching onto this. Increasingly, for a brand to invest in communications support, they need to know it will be smart, impactful and, most importantly, make a real difference to their business’s bottom line. And rightly so - you wouldn’t buy a car that might not take you from A to B, so why should comms be any different? 

Check out our new website - www.firstlightpr.com– to learn more about our experience and expertise, and find out how we can unlock growth for your business.