This is the question leading companies tackle with brutal honesty every Q3. You should too, if you’re serious about meeting your quota in 2016.
In all our research into top-performing (“Level 5”) organizations, we discovered some important shared traits. Yes, these companies have achieved internal and external strategic alignment. But they also recognize the ground beneath them is constantly shifting. And that staying aligned is no easy task.
That’s why, year after year, Level 5 companies validate their market research by way of an annual strategic planning process. They compare how well their corporate strategy is performing relative to stakeholders’ expectations. They assess emerging trends, challenges, and growth opportunities. And they adjust their sails accordingly.
Here are two guiding principles these companies live by.
If you continue to rely on outdated market research, you’re returning to square one, year after year. Market Research Is an Ongoing Investment
Over the past several weeks, we’ve written a lot about our 6-Step Revenue Growth Methodology. It’s a proven path to strategic alignment. Market research is the first step in the path, and for good reason. It underlies and informs corporate strategy and every functional strategy that follows.
Strategic alignment is the ultimate goal, but it’s not a fixed destination. It’s a moving target. That’s because market conditions are always in flux. If you continue to rely on outdated market research, you’re not just taking a step backward. You’re returning to square one, year after year.
Starting over is costly and painful. But we can help you can avoid it. Just register for our “How to Make Your Number in 2016” Workshop. We’ll show you how to create the conditions for ongoing strategic alignment and accelerated growth.
Your Corporate Strategy Must Reflect These Realities
Disruptive companies are forward-looking. So are their corporate strategies. Your 2016 strategy should be based on timely intelligence and analysis in these areas.
Changes in the Market
Does your market position reflect changing market segments and total available market (TAM)?
What big shifts are occurring in your industry? How will you stay relevant?
How will your product or service improve the daily life of the user? How will it help them accomplish their job? Your end-user persona should be regularly updated to reflect the end user’s changing perspective.
Your biggest competitors—“do nothing,” “do it myself,” major player, and niche player—keep changing positions. How will they line up in 2016?
What Happens Next?
Corporate and functional strategies must be revisited every quarter. There’s the Q4 Functional Strategy Refinement, Q1 Strategy Launch, and Q2 Strategy Refreshes. You can read more about them on pages 218-220 of our latest research report.
Remember: Leading companies never stop questioning the status quo. Neither should you.
We want you to make your number in 2016. Let us help you put our research to work. Register here for SBI’s “How to Make Your Number in 2016” Workshop, and let’s get started.