Take the strategy test
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Take the strategy test

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Regardless of business maturity or infancy it’s always worth evaluating your strategy positioning, sometimes it is easy to become caught up in the day to day running of business and indeed internal ...

Regardless of business maturity or infancy it’s always worth evaluating your strategy positioning, sometimes it is easy to become caught up in the day to day running of business and indeed internal activity that you forget to look around you and of course look ahead! A clear definitive strategy, complimented by strong sales focus, supported by a coherent marketing strategy provides the essence of business growth, essential in tough competitive landscape we operate within.
This overview sets out to provoke and generate direction. Our next overview will explain how to align a marketing and sales strategy with business growth.

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Take the strategy test Take the strategy test Presentation Transcript

  • Take the strategy test
  • “Tactics is the art of using troopsin battle; strategy is the art ofusing battles to win wars.”Carl von Clausewitz (1780-1831)
  • A good strategyStrategy essentially deals with theinterplay of three forcesForcesCustomersCorporationCompetition
  • A good strategyGood strategy is characterised throughClear marketdefinitionDefinitive match betweenmarket need and serviceSuperior performance inthe key success factors ofthe business
  • What are the key issues that impact your business?PESTELAnalysisPoliticalEnvironmentSocialEnvironmentEconomicalEnvironmentTechnologicalEnvironmentLegalEnvironmentEnvironmentalEnvironment
  • Review your companySWOTStrengthWeaknessesOpportunitiesThreatsMatch internal strengths and weaknesses with externalopportunities and threats
  • “If one does not know to which port one is sailing, no windis favourable.” (Lucius Annaeus Seneca)
  • Location, Destination, JourneyWhere areyou now?Where do youwant to be?How will youget there?How will youmeasure ?• Financial performance• Customer insight• Marketplace SWOT• Brand perception• Internal capabilities• Internal resource• Business growth• Client retention• Service proposition• Brand positioning• Efficiency gains• Market segmentation• Sales targets• Marketing activity• Client satisfaction surveys• Competitor analysis• Internal vision• Frequency reporting• Monthly analysis• Client surveys• Competitor monitor
  • Location, Destination, JourneyWhere areyou now?Financial performanceAre you consecutively hitting your financial objectives?Have you highlighted areas of revenue growth?Have you segmented your sales growth ?Customer insightAre your customers satisfied with your product/service?Would they recommend your company?Do you have all their business or do you share with competitors?Marketplace SWOTWhat are the challenges within your industry?What are the opportunities within your industry?How saturated is the marketplace?Brand perceptionAre you known within the industry?What are you known for?Are you ever approached for your opinion?Internal capabilitiesAre you satisfied with employee performance?Are you satisfied with internal skill levels?What do you seek external assistance for?Internal resourceHow do you identify resource needs?How do you measure skill capabilities?Do you match growth plans with resource needs?
  • Sense checkPerceptionsClientPerspectiveProcessPerspectiveGrowthPerspectiveFinancialPerspective
  • Location, Destination, JourneyWhere do youwant to be?Business growthDo you want more of the market share of your current products/service?Do you want to provide additional products/services?Do you need to break into new industry sectors?Client retentionWill client retention provide sustainable growth?How confident are you that current clients will re-sign contracts?Could you increase the longevity of your contracts?Service propositionHow do you want to be perceived by your clients?What do you want to be recognised for by your clients?What do you want to be recommended for by your clients?Brand positioningHow do you want to be perceived within the industry?What sets you apart from your competition?Where do you want to lie within the market-place?Efficiency gainsHow effective is your supply chain?What improvements could be made to your operating processes?How flexible is your business?
  • Sense checkEvaluateFeasibilityDoes the companyhave the resource,finance and skillsVulnerabilityWhat are the risksand contingencies?ConsistencyAbility to continuebusiness as normaldespite externaldriversSustainabilityIs there a sustainablecompetitiveadvantage?
  • Location, Destination, JourneyHow will youget there?Market segmentationSegment areas of growth within the market (including product/service)Create prospect target list and company profile (identify their vision, financials, activity)Identify key influencers and decision makers, be clear about their trigger pointsSales targetsDefine business value of the potential segmented marketEstablish percentage of conversion rate needed to achieve growth plansAgree timescales, set key milestones and maintain a system of visibilityMarketing activityAgree value proposition (key benefits , what makes you different from competitors)Identify how you will reach your target audience (online, offline, sale tools)Create unified campaigns, execute, manage, monitor and evaluate in sync with salesClient satisfaction surveysEstablish client satisfaction survey cyclesShare results and acknowledge actions pointsIntroduce monthly service barometersCompetitor analysisIdentify your top 5 competitors, perform SWOT analysisMonitor their marketing activityKnow their future business and growth plansInternal visionShare your goals and objectivesDevelop best practise and sharing of ideas systemEstablish consistent communication flow
  • Sense checkGoodSegmentationIdentifyAbility to identify andmeasure relevantcharacteristicsScopeSufficient numbers.No rapid changesrelating to needsAccessAbility to reach targetsegment , withineconomical wayResponsiveSegment respondshomogeneously tospecific marketing mix
  • Location, Destination, JourneyHow will youmeasure?Frequency reportingEstablish system for evaluating, don’t wait until half-year to realise you’re behindIntroduce a coherent and consistent method of reporting for every departmentSet realistic timescales particularly with initiatives relating to client surveysMonthly analysisMonitor and analyse departmental activity, particularly sales and marketingEvaluate and change if it’s not working, don’t wait 12 monthsShare performance results with all employees, including client survey resultsClient surveysCompanies gravitate towards those suppliers that listen, share your resultsAnalyse your results, identify any correlation with company changesYou can learn far more on how to improve your service from a dissatisfied client than asatisfied client.Competitor monitorEstablish monthly competitor analysis criteria, set a couple of benchmarking elementsIdentify your competitor client re-signing scheduleUnderstand their aspirations and company vision
  • You cannot manage, what you cannot measureManageMeasurePerformancemeasuring system toinclude and quantifyintangible assetsPerspectiveClient perspective,internal processesand learning asbuilding blocksFinanceFinancial performanceas ultimate indicatorVisionCompany vision andmission stand aboveproviding overalldirection
  • “Predicting rain does not count – building arks does.
  • Increase ROIFinancialPerspectiveCustomerPerspectiveProcessPerspectiveLearning & GrowthPerspectiveImprove operating,quality and efficiency.Improve productivityIncrease revenue inexisting segmentsand marketGrow revenue innew products andservicesBe a leader in qualityand reliability.Grow high-valuecustomer relationships.Accelerate productinnovation.Provide valued serviceapplication expertiseand support.Introduce innovativehigh-performanceproducts and solutions.Improve supply chainefficiency andeffectiveness.Improve quality, cost, &flexibility of operatingprocesses.Optimise customerprofitability.Expand channels,offerings and markets.Build and maintainstrong customerrelationships.Excel at technology,product developmentand life cyclemanagement.Identify next-generation marketopportunities.Expand and buildstrategic skills,capabilities andexpertise.Develop leadership andexecution-drivenculture.Enable and requirecontinuous learningand sharing ofknowledge.Create a high-performance culture
  • Next we will explain how to align marketing and salesStrategySalesMarketing
  • www.studio10design.co.ukemail - claire@studio10design.co.ukMobile - 07554 661927