jkt.web.id – Jakarta , Pursuing Growth, Optimizing Profit. Exposure gained, profits multiplied. A good marketing plan allows a company or brand to achieve two things at once, namely optimal growth and profit. There are five ideas to realize this marketing growth strategy.
Now is the right momentum for marketers to start stepping on the gas to pursue business growth after previously tending to reduce tension due to the political year. In the last four years, the business world has been full of uncertainty due to the COVID-19 pandemic and the world geopolitical crisis. Opportunities do not come twice, if this momentum is not optimized, it will be increasingly difficult to catch up in the future.
In order to obtain sustainable growth and profit, there are at least five models that can be used by companies to boost or pursue growth in the present. These five models are tailored to the conditions of each company, the problems being faced, and the most suitable solutions offered. First, Optimized Ops.
This model refers to the company’s efforts to correct inefficiencies and optimize sub-optimal operations. Usually, companies running this model are experiencing various problems, such as poorly managed budgets, many marketing activities that are not on target, low organizational productivity so that output in the form of sales and revenue is not optimal, and internal conflicts that limit the organization’s space for movement.
Second, Focused Amplification. In this model, the company pursues growth by focusing on its key specialization or differentiation. The company needs to reduce activities and markets that are distracting. Typically, the company has a niche market, deep expertise that no other player has, and a flagship product that it relies on because it contributes the most revenue.
Third, Adjacent Expansion. In this model, the company expands into nearby markets. Usually, this approach is taken by companies that already have a clear market and are in close proximity to another market that they just need to reach once again. Generally, this is done by companies that have three characteristics, namely having underserved markets (markets they cannot yet serve due to limited reach), having a loyal customer base, and having a long value chain.
Fourth, Portfolio Diversification. The company enters into new businesses. Usually, this new business is not related to the current business. Hence, it is called diversification. Betting on sectors that are distant from the company’s current segments. There are three requirements to enter this approach, namely having operational excellence, having a strong corporate holding, and having strong resources.
Fifth, Agile Hacking. This model was popularized by technology companies. Usually, in this model, companies have a short product life-cycle. Applications are updated all the time to stay relevant to changing market tastes.
They have a flexible app-based product platform, which is face time to market or have to launch products quickly in a short period of time. In this model, customer experience (EX) innovation is important. While many non-tech companies focus on the physical, digital companies focus on the customer experience on the digital platform.
In unusual conditions, when brands must save as much as possible in terms of production, operations and marketing, the most appropriate strategy is to use Optimized Ops. This is also what Transmedia, a giant media company in Indonesia, has done after the outbreak of the COVID-19 pandemic. These steps include cost leadership and holding safety smart operations.
Atiek Nur Wahyuni, Chief Executive Officer (CEO) of Transmedia explained, related to cost leadership, the first step taken was to re-examine the broadcast pattern and adjust to changes in audience habits and program costs. “We have to choose program costs that are cheaper than pre-pandemic programs. We also repackage and rerun existing programs to lower program costs,” he said.
to lower program costs,” said Atiek.
According to her, this decision is very appropriate considering that the social restriction policy has an impact on the production of TRANS TV and TRANS7 television programs which have been in-house production. In order to maintain operations and growth, Atiek took the strategy of airing programs enjoyed by its largest segment.
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Digital Transformation
In order to obtain optimal profits with efficient costs, digital transformation inevitably must be carried out. PT Pegadaian (Persero), for example, is pursuing profit targets by accelerating the company’s digital transformation during the pandemic.
This digitalization is carried out to boost potential posts and services. One form is the Pegadaian application. This was conveyed by Elvi Rofiqotul Hidayah, Director of Marketing and Product Development of Pegadaian.
Increasing productivity is also Pegadian’s effort to pursue growth. One of them is by targeting financing customers. The transformation carried out by Pegadaian has resulted in growth in the form of encouraging profits.