We’re busy re-inventing HOW we work harnessing AI, as everyone is. However, it’s important to also stay focused on WHAT we do as marketers. In particular, the start of a new year is a good time for a reminder of the importance of growing the core.
Rising to Core Growth Challenge was the topic of our recent research project here. A re-cap of the headlines from this project are as follows:
- Core growth is more important than ever: 85% of marketers agree that the core is the best way to create sustainable, profitable growth
- There is a core growth crisis: an over-reliance on price increases has widened the price gap versus low priced brands, leading to a loss in penetration and volumes
- Getting sales and customers on board is key: retail customers and sales team are not fully aligned on the importance of growing the core
- Core growth capability needs boosting: marketing leaders need to boost capability to create core growth and a culture where core growth is recognised and rewarded
- Growing the core needs a comprehensive, brand-led approach: a structured approach can help teams grow the core, using a set of drivers that go beyond pricing to drive penetration for volume growth
Rising to Core Growth Challenge was also the theme for our New Year cards. I share three of these below. If you’d like the full set of 10 cards, just email CARDS to me: david@thebrandgym.com . And email RESEARCH if you’d like a copy of the research paper.
