Early 2016 a slow disruption to several industries, markets, and segments started to gather pace. It was the return of the major companies and entities who, for a few years, had been losing out in bidding and contracts to smaller and more specialized competitors. Now, these entities again found their footing and started gulping down market shares in a way never seen before. Both events, the one leading up to 2016 and the one emerging in 2016, were and are different phases in the now so well known digital revolution.
Phase one (03-15) can be described as the opening where new technologies and marketing techniques created a window of opportunity for small and medium-sized companies to present their products and services to a whole new market and thus chipping into the cash flow formerly reserved for those big and ruthless companies. In research and formal studies, one can find thorough descriptions of behavioral economics. The short version is how marketing shifted to social media, and during the shift, several techniques were developed, and it became difficult to “own” every one of them.
The next phase (16→) turned the tides again, this time in favor of those companies with the deepest pockets and the most resources. This because as soon as behavioral patterns amongst buyers started to emerge, and social media was established as the new king of the hill, one could again outspend the competition. Buying and enticing the best of the best regarding programmatic, performance, dynamic, SEO, predictive, machine learning. The list is endless., making each element part of a machine, bettering and reinforcing itself with every new data input produced within the organization. Hence the need for the deep pockets, which in turn provides the ability to take back (and then some) any lost market share from the first phase
The L&F CG dream
Our goal, the endgame for L&F CG Commercialization, is to tilt this shift in power and enable any company left behind in this phase 2 to commercialize their operations and put them back in the game challenging for any bid and/or contract presented within their industry or market.
Challenges we encountered
The understanding of the term commercialization is not widespread, making basic management communication difficult. The core clientele for L&F CG from our industries, markets, and segments are, in most cases, success stories just experiencing a “little slump” in sales. They are quite confident in their ability to handle it by tweaking some of their activities. Others haven’t even experienced the slump; they are still going strong doing a version 5.0 of what they started with back in 2014. Others again are feeling the pressure and are now in dire need of a quick fix, which, more often than not, means hiring in sales.
We realized that if we could show, not tell, any prospect or client what growth curve to expect given the resources they invested today. Furthermore, if we could show that their growth curve, given proper commercialization, would be better than today’s even with a reduction in overall commercialization costs. If we finally could show any prospect or client their perfect growth curve for a company of their standing and stature and how to achieve such a curve with our 360 wheel of commercialization. These companies and individuals would join us for their next chapter.
We started by developing some matrices for quick and efficient cataloging commercialization related costs. The next step was to develop metrics for quick and efficient cataloging of all sorts of marketing activities. Within these metrics, we also had to develop a catalog system that could identify missing marketing activities—the same for sales—first developing metrics for quick and efficient cataloging sales activities and missing sales activities. Finally, we had to develop metrics for cataloging digital presence, native content, dataflow, and usage of computerized systems.
Challenges version 2.0
Of the block, just developing our metrics are time and cost consuming. Then gaining access to, gather, and assess enormous amounts of data. Before converting the data to a document palpable, any one reader amongst our clients and prospects were close to unfathomable.
Where we are at
We managed and got our metrics. Today we can literally “pull” any business within our industry, market, or segment apart and find all their doings related to sales, marketing, and technologies, commercialization. We can assign each activity with a cost, and we can assign every activity with an expected earning. We can determine which activities are missing from the mix. We can determine which activities can be removed from the mix, not affecting anything but the cost. We can show which activities have the highest multiplicator within the mix, and we can determine how to maximize the effect on today’s resource input.
As a bonus, we have also developed an understanding of companies and what types of companies can grow into a leading star in their industry, market, or segment. This, in turn, saves us much time in our prospect outreach and should tell you that your entity most likely has great potential if we reach out.