When you’re trying to figure out a tricky issue, sometimes all you need is to sit in a room for a day and gather your thoughts. Writing a growth plan while having just been acquired by a major customer, is such a time.
So the CEO of this media company called Futurelab; he invited us to sit in that room with him.
This client is the Belgian market leader in movie theatre advertising, commanding 80% of revenues. Recently acquired by their largest customer – a movie house chain – they needed to work out how the business could continue to service its new parent company as well as all the other movie house chains. In addition to this sticky situation, the CEO had a triple challenge of:
- Maintaining position as market leader
- Finding room to grow from an already large market share
- Showing value to the new owners.
While there had been initial views and ideas, the challenge was to pull them together in a unifying picture that pushed the envelope wherever possible.
Shape your thoughts by sharing them with us
After some informal conversations, a senior Futurelab adviser met with the CEO and CFO to help them formulate their thoughts, consider the company’s options and think through the implications of each. During a couple of half and one-day sessions spread over a month, our adviser participated in discussions and focused thoughts into three practical areas:
- Address the operational consequences of the recent acquisition: systems integration, headcount streamlining, contractual issues and so on
- Review commercial strategy; developing commercial packages to appeal to profitable market niches, tailoring price lists and bundled media offers
- Innovate for growth: repositioning the business as a media and promotion service for movie distributors and developing a new stream of business as media planners.
Use our storytelling skills to present your plans
At Futurelab we have a lot of experience with the pragmatic introduction of new ideas. We know how they can meet with resistance unless presented thoughtfully and positively to each audience. Once the CEO had fixed his plans, we helped him turn it into a compelling ‘story’ that board members and employees could support.
The CEO successfully presented his strategy to the board. They are already working with their first client advising on a cross-media strategy and campaign. This new stream of revenue is already adding value to the business.
If you want to meet for a coffee, talk through your thoughts and get a fresh perspective on your strategic options, just get in touch