Has your business seen a gradual decline in demand? Is competition in your industry increasing? Need to keep ahead of your competitors?
It’s easy to get bogged down in the day to day challenges of running a business, and even the most proactive companies can take their eye off the ball when things are going well.
An experienced external expert (including a coach/consultant of your own choice) can help you take an objective look at your target markets, current and potential customers, focusing your priorities and reviewing your sales and marketing activities. A potential project could also explore how to make use of your existing capabilities to find new or create new routes to market.
The Manufacturing Growth Programme is on hand to help you refresh your marketing strategy, including an overhaul of your sales and marketing tactics, and can finance up to 35% of the project cost.
Potential themes could include:
Strategy and Vision
- Developing a sustainable strategy to encourage growth and profitability.
- Creating a financial forecast as a model to aspire to and drive the business forward.
- Examining the business opportunities already identified but not yet acted upon.
- Carrying out a team SWOT activity.
- Analysis of the current trading position leading to developing a vision of the future. (current state vs. future state)
- Mapping the recent trading history to integrate the forward vision.
- Formalise what you do as a business, how you do it and why you do it.
- Asses why companies/consumers buy from you, what are their wants, needs and fears.
- Encouraging an innovative thinking culture within the organisation to gain product and methodology ideas from all employees.
- Research product enhancements, can you adapt to these opportunities?
Routes to Market
- A review of current operations in respect of sales and marketing performance including an analysis of how the business attracts enquiries, and wins or loses business.
- Exploring other media opportunities such as Linkedin, Twitter, Facebook and other forms of digital social media.
- The creation of a database of historic clients as a starting point.
- Developing a process of researching and adding potential new clients.
- Examining new market places and opportunities.
- Developing strategies for an approach to each of the market sectors.
- Refreshing corporate image, brand consistency and client viewpoint.
- Is the market evolving, if so – how and are you evolving with it.
- Examine your USP. Is it still classed as a USP in the current marketplace.
- Look at the market place, including your competitors, with a wide lens. What are you missing, what opportunities can your business take advantage of?
- Look at the ways in which you communicate to your clients and potential clients.
- Asses the messages developed, are they still relevant.
- How are you delivering those messages – is this the most effective way for your business.
- Can you analyse the success of your marketing, what ROI or KPIs are in place.
With a grant of up to 35% towards the cost, a fresh pair of eyes on your marketing strategy could be invaluable. Book a FREE strategic business review with your local Manufacturing Growth Manager now and talk through what’s involved.
Copyright © Economic Growth Solutions, 18th October 2017.