Upload
garry-steele
View
39
Download
0
Embed Size (px)
Citation preview
A Strategy for Your Business
What Makes A
Successful
Commercial Strategy
Introduction
• Business Vision
• Objectives
• Challenges
• Planning
• Business and Commercial Development Strategy
Always Thinking “Laterally”
To Plan, Create, Motivate and Grow…
Successfully
Make It
Happen!!
Business Vision
Business Strategy
- Is it feasible?
- Is it realistic?
- Is it achievable?
- Is there
commitment?
The Four Keys to Success
Business Planning /
Sales Growth
Delivery of
Services
Resource
Management
Revenue /
Financial
Performance
Business Vision
“To deliver a vision that will increase the ability of your
organisation to implement effective business and
commercial strategies, deliver a revitalised customer
programme experience, achieve financial targets and
drive profitable growth across the business.”
Business Vision
• Visibility / Awareness
• Business Procedures
• Enhanced Solution Portfolio
• Effective Management
• Sharing of skills, resources,
information and best practice
• Planned Growth
• Financial stability
Deliver a Business Strategy…
Increase Profile
Commercial Strategy
Communication
Co-op & Collaboration
Management & Support
Revenue Growth
Objectives
Strategy
Resources
Delivery
Five ‘Key’ Objectives
Support
Communication
Become THE Foremost organisation in your Field, Delivering…
› Targeted, Quality Services
› Alternative Delivery Models
› Online Strategy
› Efficiency Improvements
› Multiple Income Streams
› Cost Benefits – ‘Value for Money’
Challenges
Delivery
Programmes
Four ‘Key’ Challenges
Infrastructure
Create New
Opportunities
Over Achieve
on Targets
Develop a Feasible BusinessStrategy…
› Profile / Exposure / PR
› Resource Utilisation
› Commercial Strategy
› ICT Utilisation
› Programme Delivery
› Service Improvements
› Reduced Costs
Planning
Business Plan
Agreement &
Sign Off
Milestones
Five ‘Key’ Planning Points
Deliver
Goals &
Objectives
Business Strategy
› Financial Targets and Budgets
› Services, Solutions, Tasks
› Resources and Timescales
› ‘On Track’ and Within Budget and Resource Constraints
› Net Profit!
“Delivering Commercial Value...
Efficiently and Effectively”
BusinessStrategy
Business Strategy
“Giving any business the means to get where it needs to go…
doesn’t amount to much if you’re heading in the wrong direction in the
first place.”
How do you measuresuccess?
SWOT AnalysisStrength’s
• The Organisation’s Position
• Leadership Team
• Commitment & Dedication
• Services / Solutions
• Support
• USP’s
Weaknesses
• Communication / Marketing / PR
• Duplication of services / resources / skills
• Deployment of Resources
• Right Skills, Right Place
• Programme / Service Delivery Models
• Positioning
• Recognition in Marketplace
Threats
• Change / Speed of Change
• Apathy
• Indifference
• Internal Politics
• Waste
• Pricing
• Cost of Sales
• Lack of Support
• Lack of Commitment
Opportunities
• New commercial opportunities
• Multiple revenue streams
• Develop closer ties with 3rd Parties
• Integration and collaboration - internally
& externally
• Digital strategy / Self-Service
• Customer Service Programme
• Communication Methodologies
• Online / Social Media
Business Strategy
Any successful strategy entails doing the required ‘homework’ and is about…
• Understanding your Market... – the 'key' to knowing your customers, achieving your strategic outcomes and
delivering quality services that are customer focused and 'Value for Money'.
• Developing your ‘Niche’ and your USP's... – essential to retain that competitive advantage having that ‘edge’ and staying
that one or two steps ahead. If you don't have any... how can you expect to be competitive?
• Finding new markets, driving down costs and eradicating inefficiencies...– more critical than ever in today's increasingly competitive marketplace.
• Developing project plans, implementing programme and 'change' strategies and keeping everything 'on track'...– essential to achieving your business goals - and within the timescales you have
set yourself.
Product Development Strategy
Product Innovation• A clearly articulated and well-communicated product innovation and technology strategy.
Begin with goals and objectives• Clearly defined objectives tied into the broader business goals.
Define areas of focus for product development efforts• Where do you want to approach the market? Niche sectors? USP’s?
Develop ‘Attack’ and ‘Early Entry’ (Quick Win) strategies• How to approach the market? Each product or service may require a different approach.
Make good deployment decisions• Budget commitments, resource commitments, identify priorities
Develop the Strategic Product Roadmap• How are you going to get to where you want to go?
‘Quick Wins’ Strategy
• Identifying 2 or 3 prospective ‘New’ customers– Focus on their specific need – Can be fulfilled with a ‘short term’ resolution – The business has the ability (to implement and deliver)
• ‘Quick wins’ will deliver:– Acceptance by stakeholders– Early revenue– Credibility in the market– Leverage for further ‘on sales’
• Helps to define a longer term product / service strategy
What is Marketing?
Central to marketing is.. “An understanding of what customers need and what they value”.
• It’s about learning your customers' needs, and how (through marketing activities) you can ‘Add Value’ to the whole process and your customer’s business in return..
• Which then paves the way for you to build a successful businessin the longer term.
What do customers buy?
“Customers do not buy what you sell.
They ‘buy’ what has value to them or their business.”
What is a Marketing Strategy?
• A marketing strategy is finding out:
– who your audience actually is
– what has meaning for them
– what they care about, and how this relates to your offer
– what your message should be that is both true.. and meets your customer squarely at the level of their needs
• Why does a marketing strategy matter?
– Because it saves you money!
The Seven ‘P’s of Marketing
Once you've developed your marketing strategy, there is a "Seven ‘P’ Formula" you should use to initially evaluate and then continually re-evaluate your business activities:
• Product• Price• Promotion• Place• Physical Evidence (Packaging)• Process (Positioning)• People
Commercial Strategy…
The overall success of any commercial business strategy entails reviewing the realistic market potential for that business..
Customer
ServicesSales
Strategy
Market
Stimulation
Market
PlanningMarket
AwarenessMarket
Assessment
MarketOpportunity
Business Plan
• Do you have a business plan that covers the next year or three years?
– Remembering of course that it’s hard enough to plan for the next 12 months alone.
• Planning for 3 years out will always remain speculative in an ever changing market.
• The key is flexibility - and the ability to change tack quickly, efficiently, ethically and professionally in order to adapt to changing market conditions.
e-Business Strategy
• Focus should be on your website and social media – How will all of this be benchmarked?
• A website is your ‘shop window’, your silent salesperson – 24/7– What products / services can be sold digitally?
• Social Media – (Facebook, Twitter, LinkedIn, YouTube & Others)– Do you have the skills required to manage and test such campaigns?
• What makes or will make your business different?
• What will make your business stand out from the competition?
• Competitive organisations– What are they offering online?
– Are you competing for much of the same business?
Social Media Marketing
• Engage with Businesses and Customers..– Build Brand Recognition– Improve Brand Loyalty– More Opportunities to
Convert– Higher Conversion Rates– Increased Traffic– Lower Marketing Costs– Improved SEO Rankings– Customer Experience– Improved Customer
Insights
Social Media Marketing
• Apprehensive about starting?
• Remember…– Your competition is already
involved– The sooner you start – the
sooner you reap the benefits
– The cost to implement is small
– Potential losses are insignificant – You don’t have anything to lose!
What’s really important?
• Always.. get beyond what customers tell you they would LIKE to have, and MUST have..
• Find out what they NEED to have, and WHY..
• People buy Value.. and then Quality, Features, Functionality, Benefits, Availability & Service
• And remember… People buy from People
• People do NOT buy on Price.. That’s what you negotiate with..
USP’s – What will they be?
Do you know this marketplace?
Who are your competitors?
Can you be competitive?
What will it cost you to be competitive?
What makes your products, solution or services unique?
Do you have sufficient resources… and the right skill sets?
What differentiates you from the competition?
Why should customers buy from you, as opposed to elsewhere?
What will set you apart?
How will you maintain your competitive advantage?
What will it take for you to be profitable and successful?
How long will it take?
Product / Solution/ Service
Commercial Strategy…
Customer
ServicesSales
Strategy
Market
Stimulation
Market
PlanningMarket
AwarenessMarket
Assessment
MarketOpportunity
Solution
Strategy
Infrast
Resource
Products
Success
Go /
No-Go?
Marketing
Media
Materials
Pricing
Budgets
Resources
Training
Go /
No-Go?
Mktg. Plan
Awareness
Opps.
Suspects
Business
Case
Features
Benefits
Sales
Strategy
Prospects
A/C Plans
Resources
Performance
Reviews
F/Cast
Resources
Reqs.
Packaging
Cust Svcs
Support
A/C Mgmt.
Case Studies
User Forums
Objectives
Size
Profile
Revenue
Solutions
Drivers
Early Opp.
Go /
No-Go?
Vision
Audit
Potential
Comp
Barriers
Financial
Risks
Commitment
Continue
Go /
No-Go?
Quality of
Service and
Dedicated
Support
Providing a more efficient,
more effective response..
Delivering comprehensive
support services, whenever &
wherever required
Customer Service is not just one Department
It’s everyone’s job..
Ensuring that everyone -
whatever their role - is focused
on achieving the right outcomes,
first time, for your customers
What’s really important?
• Do what you’re GOOD at.. Don’t do what you’re NOT GOOD at..
• Don’t try to be something that you’re NOT..
• You have to earn RESPECT to be in your market..
• Think.. Act.. and Be BETTER than the competition..
• Do your Due Diligence..
Initial Tasks
• SWOT Analysis
• Clarify existing and potential revenue streams
• Agree objectives for moving forward
• Build business relationships – internally & externally
• Agree both commercialisation and business development strategies
• Identify business opportunities – (Quick Wins)
• Assess infrastructure, resources, skills, services
• Assess current outstanding problems and issues• Work to identify resolution or action as required
• Identify priorities and ways to achieve them
• Assess criteria for developing a strong network, improving communications and sharing best practice
Success rarely happens by chance, it comes from…
Vision &
Planning
Business
Sponsorship
Commitment
Successful
Implementation
of
‘The Strategy’
The ‘Key’ to Success
A Strategy For Your Business