A large telecommunications company was planning its go-to-market strategy for a new region (“the south”). After decades of dominance in its native region, it had very little presence in the south compared to its incumbent competitors. To top it off, while it was trying to grow market-share in the south, it was also needing to fend off an up-and-coming competitive threat back in its home market.
The company’s leadership gathered 32 people from across various areas of the firm, as well as a few outside marketing experts, in order to answer the question: Given our lack of presence in the south, what do we have to do over the next three years to win market share and deliver a world-class customer experience, while maintaining annual EBITDA growth of 8 percent?
To answer the question, the team decided to produce an agenda with topics ranging from “customer experience,” to “contrarian moves,” and “multi-carrier expansion.” After a series of carefully structured discussions, the team realized that they had to confront the elephant in the room: Digital trends were rendering their business models and sales strategies more and more irrelevant. Their sales people were still focused on customers coming into their stores, instead of targeting consumers online.
At the end of three days, the group came up with a series of prioritized recommendations that got at key barriers to market growth: Empowering employees to win business without having to get approval from head office each time, experimenting with pop-up stores to quickly establish bricks-and-mortar presence in the south, selling previously separated sub-brands as a family of products, doubling-down on its web-to-store journey to make it industry best, and so on.
The company moved into the top 10 percent of industry performers.
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