proven 5-step framework for sustainable growth
Thrive’s growth flywheel delivers predictable and sustainable revenue growth across industries. It’s based on proven techniques used by some of the fastest-growing companies around the world.
Growth is an iterative process. Each cycle feeds the next. By building momentum in this flywheel you can systematically realise your world-changing vision.
STEP 1
prioritise your most important objective
The classic recipe to derail growth is doing too much. A winning strategy is about choices. The choice of not doing something far outweighs doing too many things. The best brands in the world do a few things really well by relentlessly pursuing one key objective at a time.
So, you want more revenue? Of course, you do. Who doesn’t?
But revenue is a result of optimising several causal and correlated objectives (see table).
STEP 2
research to extract insights from data
Where there is smoke, there is fire. And where there is data, there are insights about what, why or how your consumers respond to your marketing messages, your offer or your pricing, your store’s shopping experience and ultimately your product or your brand.
Our research relies on interviews, search trends, surveys and observational data collection to form a cohesive view of your market, your customer and your business.
STEP 3
customer-centric strategy
Growing your top line needs a customer-centric approach. Avoid the brand-halo effect by aligning your products to your customers’ needs.
For long-lasting sustainable growth, move up the benefits ladder to deliver emotional benefits. Brands that offer emotional benefits are recalled more easily when the need arises in your customer’s mind.
STEP 4
create a tactical plan to drive ROI growth
Growth is a result of repeatable and scalable tactics. While you might get away with doing things that don’t scale in the beginning e.g. selling at a farmer’s market, to grow revenue and profits you need tactics that can be scaled, profitably.
But growing your business comes with risks. We reduce or eliminate these risks by learning quickly from small experiments before doubling down on promising tactics.
STEP 5
iterate, adapt & improve
Market conditions are rarely stagnant. Increased competition, changing consumer preferences, and marketing channel volatility demand that we stay on top of a changing environment.
Lessons learned from smaller experiments feed the next iteration of growth. All this while taking an objective data-driven approach to deciding what works and what doesn’t. Meeting one objective sets the path to achieving the next. This momentum leads to sustained growth.
