However, with only weeks to go until the New Year, there is still uncertainty on the horizon – Brexit, public concern on the environmental impact of consumerism and High Street performances (where despite increases in sales, businesses are still struggling with profit growth e.g. AO.com). This all means that despite ‘locked in’ plans we should be prepared to be agile, flexible and adaptable.
With these uncertainties, sometimes brands need to make a ‘step change’. The need to make a step change doesn’t always arise in a positive situation – sometimes it occurs when remedial action is required to turn around a brand’s performance or arrest its decline. Or sometimes it is a positive – a brand may be in steady growth but there is internal appetite to accelerate growth.
So in this two-part blog, we ask do you need to think about a step change project?
What is a step change project?
The Cambridge business dictionary defines it as “a change in a situation that is much bigger than usual” with a positive step up in direction. This usually occurs when a significant growth opportunity or issue presents itself and requires either an increase in resource, investment or strategic approach.
6 signs that your business needs to consider a step change project
Do these challenges sound familiar? These are broad trends but there will be many more specific trends influencing your consumers, market and category.
Click here to subscribe to be the first to hear about part 2 of our step change series and how we can help your brand step change in 2019.
We can help
- If your organisation needs help with long-term strategic planning, additional resource to bring your plans alive or the capability and training programmes to strengthen your team – Labyrinth Marketing can help.
- A great example of this, is how we helped pie manufacturer, Pukka, to develop a long-term strategy to define how they could step change their growth and meet ambitious 5-year targets. Read our Case Study here
Let’s get connected:
Call Vicki Pledger 07740193939