When it comes to acquiring a new business or transforming an existing one through market leadership, you need a lot of input in order to make the right business decisions. As an acquisition manager or CEO, you have a lot on your plate so the need to confidently delegate tasks is crucial to your success. With countless efforts across multiple teams and departments, you ideally want to “fire and forget,” having the confidence that your staff can successfully carry out the mission without pulling you in for help on all of the details. To make that happen, you need to execute a trusted and proven digital marketing acquisition strategy. In this blog, we’ll take a closer look at a proven marketing approach for new acquisitions or company transformations that will perfectly complement your business-building strategy.
Transform your Business through Strategy Consulting
When it comes to the marketing needs of your new acquisition or existing company transformation, you’ll want to establish a reliable team that can implement a long-term plan with verifiable benchmarks, requiring little supervision and ensuring a maximum return on your marketing spend investment (ROI).
As you communicate your vision, set your goals, and build your marketing team, don’t forget to do a competitive analysis and have a solid understanding of your company or acquisition’s online positioning, also known as a Competitive Strategy.
Developing a Competitive Strategy is a three-step process you should execute at the forefront of developing a digital growth engine — an automated, online tool for lead generation:
- Strategy: Determine your company’s current perception and develop a roadmap for sustainable growth. Analyze topics of interest for your ideal customers at each stage of their buyer’s journey and plan out content based on their buyer’s persona.
- Development: Develop the actionable items and content identified in the strategy stage. Focus on quality of consumer offerings, not quantity.
- Optimization: After some time has passed, review the work done to see if it reached your business goals and how it can be further optimized for better performance. Using website analytics, improve SEO and update content and consumer offerings to ensure they are up-to-date.
By having an established plan that utilizes new methods and technology, your sales team becomes excited about the changes you’re implementing. Having such a plan makes those cooperating with your marketing efforts trust the process and work with confidence that things are headed in an upward direction.
Having a Competitive Strategy is a crucial and exciting way to generate leads and increase revenue for your new acquisition. Sure, there is a plan in place, but you still likely have some questions:
- What does the timeline look like for executing a competitive strategy?
- How much does strategy consulting cost? Can I afford it?
- Is strategy consulting really worth it? Does it have a proven ROI?
Let's dig into the answers.
Timeline for Growth Strategy Consulting
Depending on your company’s product and current positioning, a Competitive Strategy takes around 2-5 years to fully implement. This is not to say you won’t see a ROI in year one. As each step of your strategy is implemented, you can expect constructive results throughout the process. The more content you develop, the more traffic you will see. And this increase in leads begins in step 1, even before the entire process is fully realized.
Growth Strategy Consultancy Pricing
Again, costs vary based on a couple of factors: 1.) How aggressive do you want to be? 2.) How is your new acquisition currently positioned? The cost of a Competitive Strategy can be as large or as small of an investment as you desire. But, as you see the results, chances are you’ll likely make establishing an effective digital strategy an increasingly bigger part of your budget.
A Proven ROI through a Research and Strategy Consultancy
According to Open Path Digital Solutions’ research, the average B2B company can expect a 2-3x ROI during the first stages of implementation, and as much as a 5-10x ROI once a Competitive Strategy is fully actualized and a company’s growth engine is running at full speed.
Acquisition managers and CEOs like you know the power of strategy consulting. You do your homework and employ the best teams to handle the different aspects of the business you purchased in order to complete a profitable turnaround. You’re probably wondering what working with a brand strategy consultant could do for your recent acquisition and, ultimately, your acquisition’s ROI. To get answers to these questions, schedule a time to talk with an Open Path growth strategist.
Our Growth Strategists walk you through every stage of Growth Engine implementation and show you what the process could look like for your company. Our approach to building you a Competitive Strategy is based on your specific company and industry, which is why we can advise you on the best ROI for your marketing spend.