PROBLEM DEFINITION FOR BUSINESS GROWTH
As a business owner or leader you face and solve myriad problems every day. When it comes to business growth and stability in a pandemic, arriving at a Problem Definition Statement that is articulated in a manner that is definitive, concise and opens up solutions (ideas) becomes the bases for effective solutions to be discovered.
More often than not, the Business Problem is articulated in the follow manner
Business Problem "To get more customers" or
Business Problem "To Increase Brand Awareness" or
Business Problem "To Improve Profit Margins" or
Business Problem "To Sell More Products" etc,
However these statements while they appear to be definitive and concise, are 'Wishes'.
We Wish "To get more customers"
We Wish "To increase brand awareness"
We Wish "For higher profit margins"
We Wish "For more products to be sold"
None of these statements, when presented to the internal team (Marketing & Sales) or external partners (e.g. Advertising & Marketing Agencies) for Ideas and Solutions, will ever result in anything more than short-lived tactics and marketing gimmicks. Furthermore, which business does not wish to get more customers? Or have better brand awareness? Or want higher profits? Or want to sell more products?
So how should a Problem Definition Statement be articulated?
Here are 4 steps to follow
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Identity the Most Urgent (Single Biggest Obstacle) Business Problem that the brand is facing in the market place? (Hint: What is the one thing, that if you solved, would address a current and critical businesses problem? The key is to drill deep down into the various problems that the business is facing to arrive at the root cause and solve the root cause).
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Account for Cultural Context (Beliefs), Consumer (Perceptions and Behaviours), Category Codes, Competitive Landscape and Economical factors that are having a negative impact on your business at this current point of time.
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Articulate the Problem Definition Statement in a Concise, Single-minded and Sharp manner.
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Craft the statement as a question; that inspires discussion, generates innovative ideas and empowers action.
Your Problem Definition Statement would look something like this
How can __________ Accomplish/ Achieve __________ in spite of __________?
A strong Problem Definition Statement will act at a guideline for everything your business does going forward. It directly impacts business and marketing strategies, creative and content development, internal systems and processes etc.
Related Reading: Viral Marketing, Customer Centricity
Trigger Worldwide is a Brand Marketing Agency, built specifically for businesses to create Sustainable Growth. Our proprietary tools and process methodologies harness Technology, Creativity & Innovation, leverage Economic Drivers and Consumer Beliefs to help businesses overcome marketing inefficiencies and achieve their Growth Agendas.
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