More Related Content Similar to How to Assess Growth Options (20) How to Assess Growth Options9. © Canvassco 2013.
Competition creates Opportunity!
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Australia China US EU 27 Japan
THAILAND IMPORTS from selected trading partners
Source MINISTRY OF COMMERCE, THAILAND
9
13. © Canvassco 2013.
... even if you have
successfully done this in the past
201220112010200920082007
Annual sales
13
16. © Canvassco 2013.
... and office politics
Boss
Your sales
budget is 3x
over last year.
Period.
Big Boss
16
24. © Canvassco 2013.
1. market penetration
Customers who purchase products
within the category (#) /
Total population (#)
%
24
25. © Canvassco 2013.
2. untapped market Potential
Demand that existing products or
brands do not yet meet
?
25
27. © Canvassco 2013.
4. Customer loyalty
• Customer retention
• Repeat business
• Referrals from customers
I love you
27
28. © Canvassco 2013.
5. Strength of Value Propositions
It’s the reason why customers turn to
your company rather than competitors
28
31. © Canvassco 2013.
High or low?
Market
Penetration Market Share
Strength of
Value
Propositions
Customer
Loyalty
Untapped
Market
Potential
31
33. © Canvassco 2013.
So now let’s put it all together ...
Market
penetration
Market Share
CustomerLoyalty
Untapped
Market
Potential
Strengthof ValuePropositions
33
34. © Canvassco 2013.
… in a simple strategic flowchart
Start
High
Low
34
GROW
Strategy
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
GET
Strategy
Untapped
Market
Potential
Strength of Value
Proposition
INNOVATION
Strategy
35. © Canvassco 2013.
GROW Strategy
High
Low
Encourage
current
customers to
spend more
35
GROW
Strategy
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
GET
Strategy
Untapped
Market
Potential
Strength of Value
Proposition
INNOVATION
Strategy
36. © Canvassco 2013.
KEEP Strategy
High
Low
Retain current
customers
36
GROW
Strategy
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
GET
Strategy
Strength of Value
Proposition
Untapped
Market
Potential
INNOVATION
Strategy
37. © Canvassco 2013.
GET Strategy
High
Low
Acquire new
customers
37
GROW
Strategy
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
GET
Strategy
Strength of Value
Proposition
Untapped
Market
Potential
INNOVATION
Strategy
38. © Canvassco 2013.
INNOVATION Strategy
High
Low
Create new
value
38
GROW
Strategy
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
GET
Strategy
Strength of Value
Proposition
Untapped
Market
Potential
INNOVATION
Strategy
39. © Canvassco 2013.
So now let’s take a look at
the four strategies in detail
GROW
Strategy
KEEP
Strategy
GET
Strategy
1 2 3
39
INNOVATION
Strategy
4
40. © Canvassco 2013.
GET CUSTOMERS
Awareness, interest,
consideration and
purchase strategies1
Market
Penetration
Market
share
Strength of
Value Proposition
GET
Strategy
High
Low
40
41. © Canvassco 2013.
Here, your new market has high potential ...
2014 2015 2016 2017 2018 2019
Estimated Market Size and Growth
41
44. © Canvassco 2013.
GET Customer Strategy
44
Awareness
Consideration
Purchase
Typical Activities
Branding & Advertising
Content Creation
Traffic Generation
Engagement
Lead Generation
Purchase Decision
Conversion
Think about...
Message &
Media Channels
Why we are
better than
competitors?
Contract, Pricing &
Negotiation
So you can accelerate your business through
a sales & marketing funnel ...
45. © Canvassco 2013.
... by using various media channels
Website
Owned Media Paid Media
“Channel in
control” “pay to use
the channel”
Earned Media
“customers
become the
channel”
Media Agency
Wow! Buzz
viral
45
Website
46. © Canvassco 2013.
Keep customers
Interact and retain
strategies
2
Market
Penetration
Market
Share
Customer
Loyalty
KEEP
Strategy
High
Low
46
47. © Canvassco 2013.
Here, your market has reached maturity …
Developed
Intro
Growth
Maturity
Decline
Time
Sales
Product Life Cycle
47
50. © Canvassco 2013.
So you can create after sales support programs
to retain customers
Loyalty Program Customer Lock-In/
Customer Surveys Customer Check-in Calls
CLUB
50
51. © Canvassco 2013.
GROW customer budgets
New revenue strategy
3 Market
Penetration
Market
share
Customer
Loyalty
GROW
Strategy
High
Low
51
55. © Canvassco 2013.
You can only grow if existing customers
increase their spend
Cross-Selling
Program
55
Up-Selling
Program
Next-Selling
Program Unbundling
+
Purchase
contract
2013 -
2017
Buy Now,
20% off
56. © Canvassco 2013.
Strength of
Value Proposition
INNOVATION STRATEGY
Create new value to
target customers
4
INNOVATION
Strategy
High
Low
56
71. © Canvassco 2013.
Source: www.businessmodelgeneration.com
Expected
Gains
Pain
Points
Customer
jobs
Gain creators
Pain relievers
Product &
Services
... applying a Market Fit Test
71
72. © Canvassco 2013.
This framework helps you build stuff
that customers really want
in a more systematic way
72
Source: http://businessmodelalchemist.com
73. © Canvassco 2013.
Start by thinking what your
target customers are trying to get done
73
Customer
jobs
Source: http://businessmodelalchemist.com
74. © Canvassco 2013.
What are your customer pain points?
74
Pain
Points
Customer
jobs
Source: http://businessmodelalchemist.com
75. © Canvassco 2013.
What are the benefits your customer expects,
desires or would be pleasantly surprised by?
75
Expected
Gains
Pain
Points
Customer
jobs
Source: http://businessmodelalchemist.com
76. © Canvassco 2013.
Ask yourself which products and services you
offer that help your customer get the job done
76
Expected
Gains
Pain
Points
Customer
jobs
Product &
Services
Source: http://businessmodelalchemist.com
77. © Canvassco 2013.
How do your products or services
relieve customer pain?
77
Expected
Gains
Pain
Points
Customer
jobs
Pain relievers
Product &
Services
Source: http://businessmodelalchemist.com
78. © Canvassco 2013.
Finally, think of how your products or services
create customer gain
78
Expected
Gains
Pain
Points
Customer
jobs
Gain creators
Pain relievers
Product &
Services
Source: http://businessmodelalchemist.com
80. © Canvassco 2013.
... build product mock-ups or service concepts ...
80
Product!Features
Important
features
only!!!
83. © Canvassco 2013.
The goal is to build, test and analyze
product, sales and marketing concepts ...
Build
TestAnalyze
baselineConcepts/Ideas
with customersGo/No-Go
Measure
no-go
83
85. © Canvassco 2013.
Once you’ve found the right concept, you can
accelerate your sales by using the GET strategy
Build
Testanalyze
baselineConcepts/Ideas
with customersGo/No-go
Measure & Analyze
No-Go
validated concepts/ideas
Customer Development
“Get Strategy”
85
96. © Canvassco 2013.
We are different from a typical
consulting or market research firm
96© Canvassco 2013.
97. © Canvassco 2013.
We make market research affordable
We focus on things that matter to your business
97© Canvassco 2013.
98. © Canvassco 2013.
We focus on a “less is more” philosophy
Our standardized report format covers all the
key issues you need to know
98© Canvassco 2013.
99. © Canvassco 2013.
we are ‘transparent’
We state our deliverables, our price
and our methodology upfront.
99© Canvassco 2013.
101. © Canvassco 2013.
we focus on delivering concrete results
to accelerate growth and achieve
sustainable success for our clients !!!
101© Canvassco 2013.
102. © Canvassco 2013.
www.canvassco.com
contact us
Email | contact@canvassco.com
Phone | +662 627 3081
Address | Canvassco (Thailand)
Mahatun Plaza, 14th Floor
888/143, Ploenchit Road,
Bangkok 10330, Thailand
102© Canvassco 2013.