Corporate growth in 2023 is expected to look significantly different as 63% of organizations are preparing for mergers and acquisitions this year, per a Deloitte report –and this trend is likely to continue in the future.

The objective of M&A deals should be to increase value for clients as a central part of a company’s strategy. Businesses that use M&A to enhance their capabilities can position themselves as client growth centers, which can lead to longer and more sustainable relationships plus increased revenue for the business. The key to executing successful mergers is to have a comprehensive communication, marketing, and integration plan that considers current market trends, ideal customer needs, and organizational fit within the existing business.

Don’t try to boil the ocean. In executing a merger, it’simportant to take baby steps, make intentional decisions, and focus on progress over perfection. Rushing into scenarios can lead to mistakes, such as squashing the organization’s culture and causing confusion within teams and lines of business.

 Therefore, it is vital to implement a strategy that fits well with the existing culture and allows for daily test-and-optimize approaches that facilitate rapid change compared to exec-only planning sessions. Open communication is essential for success, and lack of communication or too much time passing between touch points can create confusion and overall tension within teams and businesses.

Bring the right teams together. Knowledge sharing is the core facet of this approach, so it’s a great first step to assign a leader to serve as a subject matter expert (SMEs) empowered to execute leadership’s strategies while optimizing everyday processes for newly integrated teams.

Marketing execs must be involved just as much as finance or operations departments. Furthermore, marketing must be considered a critical component of M&A deals, as it wraps around the relationships between the two organizations and ensures t they are maintained and improved over the long-term.

Half of leaders are reportedly investing more than 40% of their budget on long-term goals to achieve this objective. Marketers must be equipped with data insights on industry trends and client needs to ensure data remains central to strategy development, branding, and the value provided through the client experience.

Use feedback to drive growth. Having individuals specifically focused on growth by department and assessing client needs will help to bring your M&A integration strategy to market. Emphasizing clients and their work is a great way to ensure that an integration strategy is driving success for their business, and ultimately yours as well. Also, set up a third-party feedback loop to constantly gather client feedback and enhance the communication and change management of any merger. This empowers you to lead strategy with client feedback at the forefront, facilitating better relationships and trust

Successful M&A deals require companies to focus on increasing value for clients as a central part of their strategy. Open communication is essential for success, and bringing together the right teams and leaders with industry expertise is crucial for business growth and success in 2023.

Businesses that use M&A to enhance their capabilities can position themselves as client growth centers, which can lead to increased revenue.