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Die größte Herausforderung

STRATEGIE

BUSINESS STRATEGIE

Business Strategy deals with the actions taken by management to produce successful performance in one specific line of business. As opposed to Corporate Strategy which deals with the company’s overall strategy. Your business strategy should clearly articulate the direction that business will pursue and the steps it will take to achieve its goals.

Whether you have only one line of business or one hundred, having the wrong business strategy in place, or an inefficient one can mean the end of doing business faster than you may think.

MindStorm will help you create a business strategy by determining your competitive advantages and focus on your strengths to dominate your industry.

CORPORATE STRATEGIE

A corporate strategy is an overall plan made by upper management to meet a specific goal. It is in concert with all of the corporate goals, using any and all corporate resources, and being supported by smaller tactical plans. Developing a corporate strategy is a key responsibility of management.

An example of corporate strategy: A company may be national and take on a mission of going international. Corporate strategy is then developed to achieve that mission. A struggling company might choose a survival strategy of ceasing international efforts in order to focus on national sales after realizing that the new company mission is to survive.

The corporate strategy is vital to the organization. Having the wrong Corporate Strategy in place is the company’s equivalent to pointing your car in the direction of a cliff and then accelerating.

MindStorm will help you create a Corporate Strategy that will dramatically increase revenues and skyrocket company profits.

GROWTH STRATEGIE

Growth Strategy is aimed at winning larger market share, even at the expense of short-term earnings. There are four broad growth strategies: diversification, innovation, market penetration, and market development.

It is said in business that we are either growing or dying. Companies that do not grow eventually fall to competitors who are taking market share and more importantly building relationships with the very clients that you could have had. There are many benefits to having a larger company such as more revenue to invest in profitable projects or the ability to sustain short term setbacks.

Not all growth is good growth. If you grow too fast there will be cash flow issues and many growing pains. If you grow too slow, you might be out of business before you know it.

MindStorm will show you how to achieve the perfect balance of growth and help you maintain it consistently. Not too fast, not too slow- just right.

There are four main strategies for growth:

Diversification

This is where the company enters an industry or market different from its core business.

Innovation

The creation of products that offer new or additional benefits to the customer or customers in another niche.

Market Penetration

Increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts.

Market Development

The expansion of the total market for a product or company by (A) entering new segments of the market, (B) converting nonusers into users, and/or (C) increasing usage per user.

MARKETING

MARKETING STRATEGIE

Most companies believe strategic marketing to be the process of marketing with a plan. Here at MindStorm we have a very aggressive definition and approach to the subject.

We believe Strategic Marketing is the act of promoting and selling products or services to prospects, who offer the highest potential profit to your company, in the most efficient and effective way possible. Strategic Marketing also identifies the competitive advantage your company has in the marketplace and uses any and all of its resources to exploit that advantage positioning you as the leader immediately.

Most companies are tactical and rarely engage at a strategic level. An example of this can be described in the scenario below.

Company A uses 4 different marketing tools to promote their company. The tools are:

  • Direct Mail

  • Press Releases

  • Cold Calling

  • Email

 

Company A

  • The marketing department sends out direct mail pieces hoping that prospects call into the company to get more information.

  • The PR team regularly sends out press releases hoping that the firm gets some free press.

  • The sales staff calls businesses who have never heard of or heard from Company A and tries to create interest.

  • As they collect email addresses from prospects, marketing sends out email offers to get the customer to buy.

These methods are not terrible and occasionally Company A will get customers to trickle in. Different departments will pull in different customers at different times- never will any drive massive business to the company.

Company B will use those same methods, but they will be used strategically- in coordination with each other with the same strategic outcome in mind.

Company B

  • The marketing department sends out direct mail pieces hoping that prospects call into the company to get more information.

  • The PR team strategically sends out press releases based on hot topics that are affecting the industry. The release is more focused on the industry and the people affected, not on the company touting how great they are. After detailing how crucial this problem is, only then does Company B offer the solution. The solution is Company B’s new service. This one little technique gains massive coverage and creates a buzz in the industry with the announcement of this “save the day” service.

  • The marketing department sends out a direct mail piece to a very targeted list of prospects who would be considered the “best buyers”- hottest prospects that will yield a great profit once they become clients. These prospects have delivered a package that contains an offer they cannot refuse. An offer that solves their toughest challenges and the ability to get started with no cost. Along with this free trial offer is reprints of all the publicity Company A had gotten. These reprints show the company’s legitimacy and combined with the free offer gets triple the normal response rate.

  • The sales people are not calling random businesses cold, they are calling the same targeted list that was just mailed the hot new offer. Now the sales team is not being hung up on constantly like before because now they are calling a warm list of prospects to discuss the information that was sent. Salespeople are able to answer any questions that the prospects have and cultivate the sale immediately.

  • For those who the sales people were not able to get in touch with, an email is sent out to remind them about the offer that will expire soon. The prospects who were interested but not ready to make a purchase will be on a drip campaign where emails will be sent to them over time so that a relationship is established and the company stays on top of their mind.

 

This is a simple 4 tactic approach but can you imagine what we can create if we implemented:

  • Article Marketing (Directories)

  • Retargeted Online Display Ads

  • Pay Per Click Advertising

  • YouTube Marketing

  • Blogging

  • Post Card Campaigns

  • Flyer Campaigns

  • Guerilla Marketing Techniques

  • SEO

  • Radio Advertising

  • Television Advertising

  • Viral Campaigns

  • Writing for magazines

  • Guest blogs

  • Research reports / whitepapers

  • Social Media Marketing

  • Referral Programs

  • Affiliate Marketing

  • Writing a book

  • Raffles

  • Surveys

  • Sponsorship Programs

  • Speaking Events

  • Networking Events

  • Plus many more!

Imagine leveraging all these different avenues to create a strategic marketing campaign that is running on autopilot. That is what we can create for you.

Call us to discuss how we build a machine that creates more business than your sales team knows what to do with. (More on that later!)

BRANDING STRATEGIE

Strategic Branding is creating the image that identifies your product or service and differentiates it from your competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer’s mind. Branding on a strategic level ties your marketing with your company’s overall mission. This creates specific associations to your company’s name.
For example, Coca Cola is creating the association of Joy to their product. If it is done correctly, customers will feel like they are purchasing happiness in a bottle or can.

  1. Are any feelings being associated with your product? If so, which ones?

  2. What is your strategy to create these associations?

  3. What strategies can you learn to speed up the process?

  4. Are all your marketing pieces strategically creating these associations?

  5. Is every contact with your company reinforcing that message?

  6. Are these things being done on every single communication?

  7. What is it costing you not to have the most effective strategy implemented and reinforced 10 out of 10 times?

Mindstorm will help you strategically brand your company so that you elicit positive emotions from customers on every contact or communication with your company.

INNOVATION

NEW PRODUCT DEVELOPMENT

Innovation is the lifeblood of your business. Without new products and services, you become stale to the market. New products, and updates to existing ones play a major role in your company’s revenue. Apple focused most of their energy on innovation over the last 10 years and because of that, it has become one of the wealthiest companies in the world. Let’s look at 2 key performance areas of innovation: New product lines and product updates.

 

When Apple created the iPod that product revolutionized the electronics industry. No longer did anyone have to carry portable CD players anymore. Now that Apple changed the way music was listened to for many, they also simultaneously created iTunes and changed the music industry forever. Now, although that was groundbreaking, what if Apple never updated their product? Today nobody would buy those green screened iPods anymore and they would fall to a competitor. Instead, Apple kept updating their product staying ahead of any possible competition. Next came the iPhone. Still to this day other companies are having trouble keeping up, although Samsung has been the closest. Again immediately after releasing the latest version of their product the team is immediately working on next year’s model. Then came the iPad. Again, this product created a whole new industry selling millions. Not to mention the iPad mini and all the updated versions

Apple is a perfect example of a company who perfects the one-two punch- first creating a game changing product then constantly updating it. Every single time a new iPhone came out, millions of people purchased it because they had to have the newest model. Imagine creating revolutionary products that people are dying to get their hands on and then every 6 months to a year updating those products and reselling them to the same people! Then continually create different types of ground breaking products (or services) and with updates on each one.

Innovation keeps your company relevant and profitable. For those who just want to coast, then new product development is not important, but for those who want to become the leader in their industry, innovation is a must. Not only is new product development a minimum requirement, but it has to be done continuously and systematically.

MindStorm will help your company focus on innovation and create products or services that people want. If you would like to discuss strategies on how to take your company to the next level give us a call.

INNOVATIONS PROZESS

Innovation is the lifeblood of your business. Without new products and services, you become stale to the market. New products, and updates to existing ones play a major role in your company’s revenue. Apple focused most of their energy on innovation over the last 10 years and because of that, it has become one of the wealthiest companies in the world. Let’s look at 2 key performance areas of innovation: New product lines and product updates.

 

When Apple created the iPod that product revolutionized the electronics industry. No longer did anyone have to carry portable CD players anymore. Now that Apple changed the way music was listened to for many, they also simultaneously created iTunes and changed the music industry forever. Now, although that was groundbreaking, what if Apple never updated their product? Today nobody would buy those green screened iPods anymore and they would fall to a competitor. Instead, Apple kept updating their product staying ahead of any possible competition. Next came the iPhone. Still to this day other companies are having trouble keeping up, although Samsung has been the closest. Again immediately after releasing the latest version of their product the team is immediately working on next year’s model. Then came the iPad. Again, this product created a whole new industry selling millions. Not to mention the iPad mini and all the updated versions

Apple is a perfect example of a company who perfects the one-two punch- first creating a game changing product then constantly updating it. Every single time a new iPhone came out, millions of people purchased it because they had to have the newest model. Imagine creating revolutionary products that people are dying to get their hands on and then every 6 months to a year updating those products and reselling them to the same people! Then continually create different types of ground breaking products (or services) and with updates on each one.

Innovation keeps your company relevant and profitable. For those who just want to coast, then new product development is not important, but for those who want to become the leader in their industry, innovation is a must. Not only is new product development a minimum requirement, but it has to be done continuously and systematically.

MindStorm will help your company focus on innovation and create products or services that people want. If you would like to discuss strategies on how to take your company to the next level give us a call.

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