Below is our list of the top ten principles that guide us in our client relationships and in how we build a successful business strategy: - The client is our customer and pays our salary. We must always be respectful of the client and work collaboratively toward the shared goal of profitable growth.
- All good strategy starts from the marketplace. This means that the solution must address a real need and that the solution must be promoted and sold through channels that the customer prefers.
- The biggest challenge involves knowing the right questions to ask and in identifying underlying assumptions. This means that research should evolve as issues are retired and new questions arise.
- A strategy which is not executed is worthless. Any strategy worth the weight of its report must provide actionable steps for implementation that will produce real results (namely, profitable sales).
- Economic theory dictates that money flows where value exists. A market only exists if the supplier makes money, the channel makes money, and the customer wishes to buy the product (to solve a need to receive an ROI). If any one of these pieces does not receive value, there is no market.
- Adam Smith proved the value of specialization. This is not only the case in production but in marketing. Successful companies know what they are good at and target the market. While shotguns may work in a hunt, you need a rifle to win in business.
- A company's brand and image are the cumulative effect of all communications and touchpoints. Thus it is critical that all sales and marketing efforts and materials (logos, collaterals, Web site, newsletters, presentations, etc.) be integrated and show a consistent position and message.
- Sophisticated customers demand to be served as they would like. This means that multi-channel and hybrid options are the norm in today's environment.
- It costs dramatically more to win (or win back) a new account than to maintain or grow an existing one. Customer loyalty is a key component of growth.
- Things change. Anyone who says they know what the future holds is lying. This means that any good strategy should be adjusted over time based on learning and feedback. It does not mean that you should wait until the future is clear (as this day will never arrive).
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