The Dangers of Silo Thinking in Business
Think about each of the product or service lines your company offers. When a company expands beyond one, confusion tends to set in on how to market the business. Should you market each product/service line, or the company as a whole? Most often, one or two product/service lines are marketed, while the others don’t receive any attention and the company marketing as a whole falls by the wayside. Suddenly, prospects think the company only has one product/service line and there is little to no cross-selling happening.
This predicament can be dangerous for a company. Not only is the client not being serviced to their full potential, as there is likely more value that your company can provide them from other departments, but you are also losing potential revenue to your easiest target audience – your current clients. Even worse – what if the other departments actively prospect your current clients without knowing they are already current customers? Looks pretty bad, huh?
These scenarios are happening every day. Below are three things you can do to break down this “silo thinking” that could be happening in your business:
- Hire a consultant to meet with each department head and identify their top three goals.
- Host a strategic meeting with the department heads to review everyone’s goals. Identify commonalities among the goals and see where departments can help each other to reach their goals. One department may be looking to grow in a market already tapped by another department.
- Assign goals to the company as well as the departments. Each of the department heads has a responsibility to think beyond their department. Consider how the company as a whole should be presented. Is the company brand presented before the departments or is the company secondary to the department offerings?
If you have questions on this process, then please reach out to us at 515-868-0240.