With unpredictable market fluctuations and rapidly-shifting consumer trends, the rigid, cookie-cutter strategy development planning of old has become less effective. Now more than ever, approaching your company’s strategy development processes should involve equal parts feedback, flexibility, and a foundation of factual data that supports your current and future business plans.
1. Strategic Planning: Start With the Fundamentals
Before reworking your marketing campaign or product line, start with an honest evaluation of your core operations and perform basic marketing research. Before any strategic plan can become successful, a clear understanding of your fundamental business operations will illuminate any obvious gaps and show you exactly where you need to refocus your efforts.
While designing a better strategic plan, consider:
- What Are Your Current & Future Goals?
- Does Your Staffing Model Support These Goals?
- Are Your Products or Services Addressing Your Customers Needs?
- Does Your Budget Support Your Current & Future Plans?
- How Can You Minimize Your Expenses & Spend Your Finances More Wisely?
After you answer these questions, you can begin to create a more realistic plan of action.
2. Take Advantage of Capital Campaign Feasibility Studies
Oftentimes, the most effective strategies are refined with the help of an outsider’s perspective. While your outreach or sales plan may look great on paper, bouncing these ideas off of unbiased donors and other successful agencies will provide you with valuable feedback about your plan’s viability. Armed with honest opinions from neutral advisors, you can decide for yourself if your current strategy is on track.
3. The Power of Retreat Facilitation
Use the power of collaborative brainstorming and openly discuss your company’s vision and long-term goals with the entire team during a retreat. Your team will help you determine where the problems are, provide useful feedback about your current operations, and help you define a strategy that accounts for important topics you may not have been aware of.
4. Consider Survey Administration
Another valuable way to achieve effective strategic development is as simple as creating a survey. You can survey local community members, and other businesses, or provide a survey to customers and staff members to gain relevant feedback. For example, you can easily attach an online survey link to every product you sell; learn what you could be doing better, design your strategy around customers’ opinions, and achieve greater success.
5. Use a Focus Group
Before launching a new product or implementing your new plan, have you considered using a focus group? A focus group will help you determine which features of your products or services are worthy of your attention and resources. Organizing a focus group is cost-effective, and in many cases, you only need to offer a free product or discounted service in exchange for honest opinions about your company.
Wherever you are in your strategy development planning, we can help. We streamline staffing needs with certified background checks for employment in PA, and successfully manage both marketing and research processes for simplified business strategizing from the ground up.