Developing a Growth-Driven Strategy for Modern Web Products
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As businesses strive to reach new heights of success using innovative methods, the role of the website also evolves continuously to suit the business and customer needs. However, has it really successfully filled that role? Then how do we ensure that a website reaches its full potential as an effective business tool? The answer is Growth-Driven strategy.
A website is, in essence, a reflection of the brand it represents. Suffice to say, it should evolve with the company because every company changes its goals to adapt to the needs of the market. However, traditionally, this doesn’t happen. A website is taken up as a project by a company to establish a brand image on the digital landscape, but ends up as an outdated poster of the company which doesn’t change with the company’s frame of work
It is important to understand that the customers’ needs, and subsequently their expectations from a brand, are always changing with the tide of time. More often than not, many companies who follow the traditional method of website design are unable to cope up with the changing requirements, because of the costs involved in the redesigning the website too many times. The solution to this conundrum lies in a new non-linear strategy called the Growth-driven Strategy.
What is the Growth Driven Strategy?
In a rapidly changing and evolving market like now, it is important for a company to elevate the role of a website from a mere representation of the company’s digital presence to an effective tool to reach out to the customers and stakeholders. This change can happen only when the process of designing a website undergoes a sea change.
When we talk about a sea change, we must start with our treatment of the entity in question – the website. The traditional treatment of a website is that of a project which is taken up every now and then and entails enormous investment of funds, time and effort. Despite all the effort, there is no assurance of any success at the end of the project.
Seems desolate, isn’t it? Let us look at the website with new glasses then. How about we treated the website like any other product of the company? Then it would get the following treatment:
- Conceived as a collective idea of all the teams who are a part of the company.
- Continuous evaluation of its performance in the market.
- Minor tweaks in the product to cater to time-sensitive events such as discounts and festive offers.
- Minor – or even major – changes to the complete product in case the current version doesn’t get the desired response.
Isn’t this outlook more uplifting for the life of the website? This is the Growth-Driven Strategy for a web product. To be more precise, a Growth Driven strategy is a non-linear method of designing and developing a website by treating it as a product of a company. The strategy comes from the school of agile thinking and continuous improvement methodology.
How to Adopt a Growth-Driven Strategy for Your Company Website?
Be it an existing website or a new one, the foundation of developing a successful website lies in the right strategy. Even if you are redesigning your website, you can develop this strategy to take the website in a new direction.
Step 1: Strategise
- Gather any metrics related to your website. If you are developing a new website, then consider evaluating the performance of your product in the market.
- Analyse what the buyer expects from your website.
- Create a wish list – be clear of the direction you want the website to take.
Step 2: Develop
- With clear objectives, develop a malleable website that can stand its form in the market.
- Create prototypes that can be launched rapidly launched
- Ensure that the speed of launching doesn’t compromise with the quality of content
- Enable the website to create metrics on various levels
- Treat the website like a work in progress.
Step 3: Improve
- Start analysing the metrics and collate the performance of the website
- Decide the path of your website and the goals it is meant to fulfil in its journey
- Divide your work into sprints with each sprint having a different goal, decided by the data.
Yes, the growth-driven strategy is a whole new outlook on the treatment of the website, especially for the businesses who are just entering the digital landscape. On the surface, the traditional method seems the easy way out, something which you can take up and “get it over with” once and for all. But serious businesses understand that for it to thrive, it is important to treat the website as a continuously evolving entity.
For all you know, you might find that this new approach has influenced your and your teams approach towards the company positively in numerous unforeseen ways.