Growth creates value.
We know that transformational growth is fundamental in taking businesses either in a different direction or to a new plane of effectiveness, and in light of recent events it is only becoming more important. Companies that outperform their peers on growth also typically post higher total returns to shareholders.
To drive growth, many businesses try to position themselves as better than the competition. The problem is customers don't buy 'Better'... they buy 'Different'.
With this in mind, BIE, in partnership with Think Again Growth, hosted a roundtable discussion on the role of Neuroscience to drive differentiation and sustainable, profitable growth.
Key areas of discussion included:
- How human decision-making works and how almost all decisions are driven by subconscious, intuitive factors, not reason and logic.
- Explanation of why humans prefer clear-cut differences to marginal superiority - how our brains are hard-wired to prefer these clear, differentiated choices.
- Illustration of the power of differentiation vs marginal superiority from non-business worlds -politics and sport.
- Examples of how much more successful well differentiated brands are vs those that try to trade on 'we're a bit better than them'.
You can watch the full 25min presentation here.
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