What does it mean to grow your company’s brand? Why are you growing and what areas are you focused on growing in? These are important questions to ask yourself when coming up with marketing campaigns and overall strategy for the company you work for. You can have tremendous growth, not asking yourself these questions, and just make profit in the short term using techniques like growth hacking. But what about the long term? What are you investing in that will allow your company to survive, to not pop in the next bubble burst of the market?
While growth hacking is wonderful, you’ve got to build durability into your company. Ask yourself, what will our company look like 10, 15 years from now? Will we be in a different market? The durability build into your brand allows you to invest in future technology and stay ahead of competition.
Look at what happened with the Google versus Microsoft battle. They spent so much time, money and resources on outcompeting each other against search engines, laptops, documents, and more that they were both overcome by Apple when Apple released the iPad and iPhone. Now, these guys are playing catch up, doing what has been done before, such as the Google Pixel phone. However, Google’s Project X, which embodies growth hacking is coming up with some innovative solutions.
A company in the present is worth more due to perceived value in the next 10/15 years and the potential growth it has, not where it is at now. Aim for the perceived value for your company, and then build towards the future, pivoting along the way.
This takes much strategic thinking, testing and redefining. You have to act. It’s ok to make mistakes on the small scale. That’s where you learn from your mistakes, to grow and move on. That’s how you get better.