Creating Growth
Introduction
“Choose a job. Choose a career. Choose a family. Choose washing machines, cars, compact disc players and electrical tin openers... Choose DIY and wondering who the fuck you are on a Sunday morning.”
Irvine Welsh, Trainspotting.
Like life, growth is something that every business leader appears to have chosen. It’s virtually baked into the boilerplate of a C-Suite CV.
But despite choosing it, growth remains elusive for many. An almost mystical objective that can be measured and monitored but never fully understood or tamed.
Is our ability to grow defined by the economic, technological and human forces or the current time? Or can it be designed whatever the weather.
Is growth luck? Or is it a choice?
Through research and practice we’ve identified that companies who design for growth outperform their markets. But how are they doing this? And what levers can they pull?
Choosing Growth
“In this world you're either growing or you're dying. So get in motion and grow.”
Football Coach and Author, Lou Holtz.
Perhaps the largest and most credible study into this topic in recent times comes from the USA. PwC analysed data from 2020 to 2022 for almost 2,700 US public companies with annual revenues exceeding $200 million in over 40 subsectors.
Of these companies, around 425 (15%) outperformed their competitors. They achieved this by designing and driving sustainable growth. Two of the four key traits these companies shared were driven by brand and marketing departments.
These businesses had a better understanding of their customers than competitors, and they better served their needs through improved service, personalisation and digital delivery.
Designing Growth
“Creativity is the most powerful force ever harnessed. Without it, we’d still be kicking rocks in a pitch-black cave somewhere.”
Adam Kerj, CCO at Accenture Interactive and Jury President in Digital Marketing at D&AD Awards.
If there’s a single takeaway lesson from the PwC report it’s this:
Growth is a choice by the leadership. But it is designed by the company.
The word design is of course particularly interesting to us.
Creative professionals are often on the receiving end of business strategies. But mounting evidence suggests that creativity is one of the most important factors in designing and delivering growth.
In Adobe’s ‘How Creativity Impacts Business’ report, companies that foster creativity are 3.5x more likely to outperform their peers in terms of revenue growth.
Unsurprisingly McKinsey has also produced its own research into how growth can be created. Focussing on the leader rather than the company, it identified the beliefs and behaviours of those who drive healthy, sustainable growth.
Many of the core characteristics identified can be best designed by brand-minded leaders. These leaders set out bold ambitions and inspire others to join them in achieving extraordinary things. They create the culture, environment and focus required, and equip their teams with the confidence, clarity and tools to excel in their work.
These leaders then unite all minds and align all resources towards achieving the stated idea, providing people with clarity on their role in achieving something greater than they could in isolation.
They also remind, reinforce and occasionally jolt their organisation to keep it on track, keeping an eye on external change that requires subtle adaptation.
It’s important to not overstate the role of brand and creativity, as the industry has done so far too often in the past. But it’s important not to underestimate its power either. This is best summed up by Adam Kerj, who was quoted at the beginning of this section, who continued:
“... we should be beyond proud of what role we play and can do considering that creativity is by far the world's most significant economic multiplier.”
Catalysing Growth
“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”
Dale Carnegie
It’s widely known that inertia kills companies. But so too can change. Leaders can become dizzy with the pursuit of ‘finding our purpose’ or mired in an endless cycle of transformation - unsure of the past yet hesitant to embrace the future.
This kind of no-mans land is an incredibly dangerous place to be.
Transformation is powerful, but to be effective it has to be swift and well managed. Transformation isn’t the goal. Getting to growth is.
Enter brand, one of the most powerful change tools at a leaders’ disposal. When executed well, branding is a catalyst for swift, highly tactile change that is capable of impacting every corner of a company.
It’s a great multiplier. A strong brand helps create unity, alignment and clarity, igniting a coordinated process of change that elevates the entire organisation’s efforts and impact.
Brace for immediate impact
The moment a brand project is initiated, if structured correctly, it can create immediate value by aligning leadership teams, helping them frame an opportunity together and agree on what’s needed to realise it.
Using open creative methods teams can be engaged swiftly whilst avoiding ‘decision by committee’. This creates engagement and excitement. The early parts of a brand improvement process, if managed correctly, create an immediate energy. Beyond this, it also creates ‘buy in’. When team members feel their input shapes the brand, they develop a sense of ownership.
"If their fingerprints are on it, they’ll feel ownership of it."
Evidence then shows that these engaged employees will drive improved customer experience.
This engagement is vital for fostering a culture that supports and accelerates change, which in turn creates growth.
Getting clarity on purpose, vision, mission and culture, and creating clarity for teams and individuals on their roles and contribution creates a culture primed for growth.
A strong brand should feel tangible in every department. For example HR and managers can align the culture and value with performance reviews, sales teams can be empowered with an approach, messaging and enablement tools, workplace strategists can design environments that bring people closer to the business and brand, and all teams can use the company’s superior knowledge of the customer to deliver products, services and experiences that competitors cannot match.
Wherever you look, the statistics back this up, and so does our experience of working in this field for a decade and a half.
- Engaged employees are 30% more likely to deliver superior customer service, leading to higher customer satisfaction and loyalty. Bain & Company.
- Engaged employees are 50% more likely to suggest creative ideas that enhance products, processes, or customer experiences. MIT Sloan Management Review.
For any company, gaining an army of loyal customers is key, this begins by growing a tribe of highly engaged employees, which begins by aligning leadership teams.
And what is the fastest, and most powerful way of achieving all of this?
By choosing growth. And by building a powerful brand and placing the ideas that underpin it at the very core of your company.
In summary:
- Growth is a choice at the top, and can be designed in every department.
- Brand is amongst the most powerful levers a company can pull to catalyse growth.
- It is a multiplier that can positively impact every part of a company.
- By involving your people in the creation of your brand you will create a lasting, deeper connection to your company.
- Engaged employees are the key to driving innovation and customer experience.
- Through intentional actions and a commitment to brand-driven change, companies can not only achieve growth but also build a legacy of sustained success.
Brand is the button to create growth. Are you ready to push it?
Contact chris@bertagency.co.uk to discuss what brand building can do for you.
Footnotes:
Guide to creating award winning ads: https://www.ipsos.com/en-uk/can-award-winning-ads-be-effective
