The triple play of marketing for business growth
New rules in the trading game
The COVID-19 crisis has brought about changes in all aspects of the world, especially in the ways of consumption and, therefore, of doing business. The rules of the commercial game have changed and, in just a few months, changes that were planned for a decade have been implemented.
This non-normality has allowed us to thoroughly evaluate new behaviors that indicate that priorities have changed. Digital work, online consumption, and new shopping preferences and relaxation methods are becoming more popular.
In this game, the leaders have been the managers and marketing specialists for business growth. They have managed to link the perfect triad for business growth. Companies pharmaceutical email list that have trusted their steps to marketers have doubled their growth progressively and exponentially.
The three-player game of marketing: creativity, analysis and purpose
The marketing triple play for business growth is creativity, analysis and purpose. Companies that have been able to incorporate these elements into their marketing strategies have experienced a significant growth rate .
According to studies conducted by the consulting firm McKinsey , those who play under these parameters had a growth in the pandemic of 2.7 times more than their competitors. This research yielded interesting results, among them, it establishes that between the years 2018 and 2019:
Companies that used one of the capabilities saw growth of more than 6%
Those companies that applied two components experienced growth of more than 7%
Of all the companies that played the triad (creativity + analysis + purpose), 67% had a growth rate of more than 12%. That is, their results doubled compared to their competition.
Creativity
Marketing was born with creativity. It is responsible for innovation and ideas to develop different, unique marketing strategies and propose actions that distinguish brands from the competition.
Creativity allows changes to be generated in the ways of working and, therefore, provides added value to each company.
Analysis
In the new marketing revolution, analytics was integrated into the marketing formula. In this way, creativity, market research and results began to drive data- driven business growth .
Purpose. The key piece of marketing for business growth
Purpose is an objective that goes beyond closing sales for the company. It must be closely linked to the essence of the brand. However, it is variable and can represent many things: rebellion, fun, innovation, etc.
It must be implicit in everything that the brand and its narrative express.
The triple play of marketing for business growth
McKinsey research established ideal parameters or combinations of the elements of the marketing triad to improve the rate of business growth. Companies that have managed to complement these components with each other are 1.8 times more likely to be at the top of their sector.
Now, let's learn how to bring together creativity, analysis, and purpose to double sales growth at an accelerated rate:
Creativity + Analysis
When we talk about creativity in marketing, we are talking about the new ideas that are generated to surprise real and potential clients. Analysis helps us understand the client from a 360-degree perspective.
Data analytics streamlines creative decision-making by monitoring consumer behavior. In addition, “effective creativity” allows for the optimal allocation of resources such as time and budget.
By generating strategies, campaigns, launches, etc., that unite these two aspects, innovative and original results are obtained that lead to the effectiveness of marketing actions and efforts for business growth. These, in turn, solve real user needs.
“Companies that use the triple play of growth infuse creativity with analytics at much higher rates than those that don’t”
McKinsey & Company
Growth of companies that applied analytics with the purpose of marketing triple play for business growth
McKinsey & Company. Growth of companies that applied analytics with purpose.
Analysis + Purpose
The company's purpose generates unique and relevant connections and experiences with clients and prospects. Having analytics as an ally helps design experiences thinking about the tastes, requirements, intentions and other aspects of the users' personality and needs.
The amount of data currently generated in companies requires using purpose as a ground wire to land and focus actions.
In the triple play of marketing for business growth, it is important to allow flexible data analysis . This way, you can work on strategies focused on personalized data based on the purpose. In addition, this information can be shared with the entire team and thus address all the needs of users from different departments of the company.
“Implementing purposeful analytics is another hallmark of the growth triple play that outperforming companies focus on.”
McKinsey & Company
Growth of companies that implemented purpose-driven analytics in their strategies
McKinsey & Company. Growth of companies that applied analytics with purpose.
Focus on purpose
In this game, it is necessary to use purpose as the north and creativity and analysis as the compass that guides the general direction on that route. This helps to take into account analytics to identify market opportunities and creatively focus on serving users while reinforcing the purpose.
Managers and marketers focus on the triad of purpose to demonstrate the power of purpose and integrate it into the company culture. The goal is to make it an identifiable mission for customers, prospects, employees, etc.
“Finding the power purpose is the final element that companies employing the triple play of growth focus on”
McKinsey & Company
Growth of companies that discovered the power of purpose in the organization
McKinsey & Company. Growth of companies that focused on their purpose.
How to position yourself in the new normal with the triple play of marketing for business growth?
Today’s commerce revolution has marketing managers and leaders in a position to lead an entire business generation. They are responsible for accurately using data to anticipate and meet user expectations in a creative and purpose-focused way.
In these times, marketing managers and leaders have gained relevance and climbed within companies. However, the greatest probability of success is for those who adapt and are able to understand and apply new methods based on the importance of post-covid 19 marketing .
