The era of specialization has returned…again.
Most large, multi-national corporations have been grooming their executives to accumulate a broad set of management challenges and experiences across a number of disciplines. However, a trend back toward deepening their focus and expertise in one core sector is talking hold. General Electric, a pioneer and subsequent bellwether for management philosophies, is a prime example of this trend. Once the corporate vanguard in rotating managers through a number of sectors to broaden their industry knowledge, the company has decided to have its leaders further strengthen their specific market understanding, as outlined in The Wall Street Journal.
Evidence abounds that specialization is a trend that will stick for a while, particularly because it occurs in concert with innovation. As noted in a Harvard Business Review blog, globalization, economic travails and competition have made the business environment challenging and complex. Thus, it’s imperative that managers reinforce their knowledge depth to transfer client conversations and needs into new solutions and technology to benefit their business and relationships, and ultimately growth.
How does a company with deep areas of specialization communicate its value in a way that ultimately enhances its brand reputation? The specialized knowledge a company can offer to clients and prospects has the potential to create a more powerful identity in the eyes of these influential constituents.
As professional services and B2B companies are moving toward increased specialization, it is critical to develop and implement communications strategies for each of those specialized areas. In this content-driven era where information and data is sliced, diced, personalized and delivered, or “pushed” to clients, the ability to deliver clear, consistent messages to strategically communicate a company or department’s mission and business goals rises to the top of the priority list.
This strategy of “Directing the Conversation” in specific industries and along lines of business is a hallmark of Greentarget’s communications philosophy and business offering. Here are fundamental communications tenets companies should embrace in their quest to emphasize their specialized areas:
Identify key messages for specific industries or other specialized categories that highlight differentiating aspects of your offerings
Build compelling storylines that give life to the strategy of communicating your specialized offerings
Explain how this specialization plan drives business goals and why it’s vital to growth for the corporation and its employees
The ability to showcase specific areas of expertise in a way that provides context and relevance to clients, prospects and other stakeholders is a crucial step in improving ROI. We will continue to watch how GE and others are communicating their value and innovation along specific industries and lines of business.