Interim Executives Strategies for Growth
Interim executives are often asked to help companies scale growth and increase market share.
Using technical growth strategies interim executives are able to help companies optimize for growth.
Marketing & Product
Traditionally, companies have product teams that focus on building the product and a marketing team that works on penetrating the market. Up to two decades ago, this was the standard in all small and big businesses – two separate teams with separate function & no synergy between the two.
But now things have changed. Engineers from product and marketing specialists now work on the same team. Marketing determines the needs of the market while data scientists and engineers work to fulfill that need.
Grow at scale models
Growing your company at scale is a major challenge in the early days. But if you follow a structured approach and model, you’ll be on the right track.
1. Growth engineering:
Growth using technology by actively changing the product to drive more growth is a common approach. Here companies focus on making the product or service grow faster by delivering a product that makes customers come back for more.
2. Performance marketing
A technical and data-driven form of marketing commonly used by Google and Facebook focuses on increasing the performance of their product to deliver results faster and better.
3. Brand marketing
This is the hardest type of marketing to measure as there’s no direct response or product feedback. It’s a better fit for larger companies that have reached the limits of the first two types of scaled growth marketing. Smaller companies shouldn’t focus on their brand until they’ve perfected their product or service first.
Interim executives optimizing the sales funnel
Anytime a customer shows interest in your product or the problem you are trying to solve, they are in your sales funnel. But dropping out of the funnel is just as easy as getting in. Companies need to focus on optimizing the rate of conversions of any potential customer.