31 Aug Marginal gains: Edging your way to exponential growth
One thing you should be looking at, as an executive, is marginal gains. They’re a lot like compound interest, the returns they offer in the short term may look small, but over the long term they can lead to exponential growth.
Think about leads working their way through a marketing funnel – an initial opportunity, to a serious opportunity, to a closed deal. Marginal gains are about making improvements of as little as 1% at each of those steps.
When an organization looks for marginal gains in its marketing funnel, it can often find them without actually altering the number of leads coming in. Assuming the number of leads at the top of the funnel is many times bigger than the number converting at the bottom, you will find that if you improve by 1% at every single step in the funnel, by the time we go to the bottom, the impact is enormous.
That can even be the case in the short term. In the long term, apply this principle over 30 years and you’re looking at even more significant gains.
It’s all about a theme of improvement and not just sitting on your laurels. There’s an enormous amount of revenue to be found if you just analyse your marketing funnels and other areas of your business.
To find out more about how we can help with that please get in touch. I’m more than happy to act as a resource for you in this area.