There are a number of ways to get started using Growth Panel. Last week we tackled two scenarios: how to get started when you’re looking for a solution to an immediate marketing challenge, and getting started managing an existing marketing project.
Another approach is to dive into the marketing content to expand your expertise in a specific subject. Most marketers and consultants have deep expertise in 3 to 5 of our subjects, along with hands-on experience in six to eight.
Visit the Library and choose a subject to access the content you’d like to explore. After you select a subject, the exercise panel will display the core exercises you can download to execute and manage each task. Download them here and review each exercise. You don’t have to do them all right away; just look at the tasks each exercise presents to get an overview. This might take 30 minutes to a few hours, depending on the subject and the depth of your review.
Marketing Content for New Expertise
I learn best when I write or type something that I’ve read, so I like to create my own summary of each exercise in my own document. Let’s take a look at Pricing. After downloading and reviewing the exercises, my outline looks like this:
- Pricing Strategy: What are we currently using?
- Steps to determine pricing strategy
- Match value proposition to market maturity level and market share goals
- Understand cost structure
- Calculate cost-of-goods sold
- Determine desired gross profit margin
- Review main competitors’ prices and try to identify their pricing strategy
- Match competitors’ value propositions to their pricing strategies and check for alignment. Which ones directly compete with ours?
- Determine acceptable range of prices that meet profit goals
- Review process for evaluating price changes
- Determine how to assess price elasticity and how to evaluate its impact on revenue and profit
More Content in Extended Library
Next, use the side navigation pane to move to the Extended Library and Links panels to review other articles that might be useful. Each panel delivers internal and external content that expounds on the core exercises. They’re tagged as tools, reference material, books and articles.
As an example, here’s what the Pricing section currently contains:
- Case study on how a billion-dollar parts manufacturer approached revamping their pricing strategy
- Articles about how to use value-based pricing (for consulting firms)
- Articles and case studies on how companies set prices and approach pricing changes
- Recommended books detailing the math ties between pricing, demand, COGs and margin
- Online calculators to run instant what-if scenarios
- Price elasticity diagrams
You can also check out the Description panel, which contains our eBook content for each subject. We’re adding an editing function soon, so you’ll have the ability to tailor the content to your company.
Applying the Content and Tools
After completing my outline, I like to dive into an exercise and start applying it to my business. I use the Extended Library and Links content to expand on my tasks as I’m working through them. I’ll generally set aside a solid 60 minute window for each learning session, and focus on mastering one or two key tasks at a time.
We’ll send you alerts each month when we add new content to your Extended Library and Links panels, so you can increase your expertise as needed.
In our next post, we’ll address how to move all of your marketing management to our platform.
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- Effective Price Management (slideshare.net)