How Two Leading Automation Companies Created a Growth Model?
Running a business is a complex ecosystem of many moving parts. Creating a solid structure is the key to a healthy functioning organization. However, creating a structure is rarely simple. For this purpose, having a clear direction and aligning the entire organization with it is essential. Founding and managing two successful automation companies has given us some perspective on this matter and we’d like to share it with you.
The value a product/service creates for clients drives their engagement and sequentially creates value and an important direction for a company. This direction should be your team’s point of focus as it will guide you in creating a mechanism that drives productivity, thereby improving your growth model.
Now let’s assume you’ve defined a mission to meet a particular need and have created a unique value proposition to meet that need better than anyone else. Now, how do you make sure that every member of your organization is driving in one direction and not going astray and traveling in different directions?
Setting the Direction
To ascertain this most crucial factor you need to look at is the value your product gives your customers. You can gauge this by evaluating your user engagement and activity level. This will make it easy enough to figure what your customers are getting from your product/service.
The direction you set must hold intrinsic value and allow you to optimise your product and create more value for your users. Additionally, you should conduct an in-depth analysis and collect information from all your teams to define the direction.
Create a Growth Model Based on Variables
Once you’ve set your direction, you can design a mechanism around it that helps you strive for growth. Now, to construct your growth model, carefully examine the variables with regard to the direction you’ve set. These variables are rungs along the customer journey, like new users, engagement and retention. Outlining them and creating a complete model of their relationships will guide you in understanding their interactions, thereby leading to growth.
Analyse your user experience data and use it for a broader perspective. This data can be used to segment your customers into their buyer journey for more insight and will help you offer a more individualised pitch at each touch point.
This insight will also help you in aligning your priorities and will give more structure and a clear-cut direction to your teams. It’ll allow your teams to look closer into user segments and create significant drivers of growth. The more elaborate you get, the better you forecast your growth.
The above-mentioned pointers will help you to stay on the right path and will allow you to grow your company’s ecosystem in a way that gives you profound insight into your customer’s behaviour, thereby setting the ground for future growth.
As founders of two leading automation companies, we’ve gathered these insights through experience. Having tried and tested these ourselves, we’ve been able to ascertain what works and what doesn’t while running a business. We have a test automation services company and a product company that provides a solution for functional testing & continuous testing tools. At both our automation companies-Zensoft Services and Qualitia Software, we’ve set a clear direction and are continually trying to align and re-align our workforce to offer premium solutions to our clients.