Business drivers are attributes of a company that increase its’ value. They are factors that increase the probability of sustainable growth and reduce risk.
There are many factors that contribute to growth and features or processes that reduce risk. Further many business drivers are unique to different businesses as well as their priority of importance at a given period of time.
If your management team doesn’t know the top one or two most important business drivers you are planning and executing processes to achieve you may be increasing risk.
Business driver examples:
- Sales pipe
- Profit margin
- Diversified customer base
If sales related business drivers are critical to the success of your business, what other qualities, features or factors contribute to increasing sales metrics?
More sales and marketing related business drivers:
- Realistic Growth Strategy
- Lead Generation – From Main Street business to Fortune 500, all businesses need more prospective customers.
- Convert leads to paying customers – Once your prospective customer visits your brick and mortar store, business or website, you need a marketing strategy that addresses how you are going to convert them into a paying customer.
- Customer growth – Once you convert the lead to a customer, you need a marketing strategy to have them buy more.
- Prove ROI – Measuring your marketing investment is important to support future marketing investments.
- Website and marketing system – Executing strategies and tactics with a strategic and systematic approach will enable you to accomplish these goals.
Strategic analysis will identify which business drivers are a priority for you business. Once identified, you can implement marketing strategies to improve these drivers.