by Mark Dewings and Emily St. Clair-Johnson
In 2023 top-line growth was driven largely through price hikes, revealing a lack of real underlying growth that has left brands and businesses exposed this year. With 2024 shaping up to be another year of stagnation, every brand and business urgently needs a catalyst for real growth to drive the top line, without relying on the price increases that consumers will no longer accept.
So, what will it take for companies to unlock real growth in an era when easy wins and cautious optimism simply won’t cut it? A fresh take on innovation. We’ve devised a formula for how innovation can drive real growth in 2024, and beyond.
― Firstly, understand the brand drivers of innovation to increase brand equity and top-line growth – how they have changed, what they are today and what will come next.
― Secondly, identify the right type of innovation for the problem your brand or business needs to solve – we identify three types of innovation to drive the top line.
― And lastly, apply the principles that will spark and sustain a culture of innovation throughout your organization, to generate new energy and engagement around it.
Mark Dewings is a Consulting Principal and the Brand Marketing Innovation Practice Lead at Ogilvy Consulting EMEA.
Emily St. Clair-Johnson is a Consulting Partner at Ogilvy Consulting EMEA.
