Strategic Planning for Your Small Business

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Strategic Planning: Understand Your Customers

While developing your strategic plan is a good time to research more about why your customers buy products from your company or use your services. Ultimately, the value you provide is only as good as the [more…]

Strategic Planning: Measure Customer Satisfaction

Measurements and metrics abound in companies today, and they are helpful when you are trying to develop strategic plans. Customer-focused metrics are a quick way to determine customer satisfaction. You [more…]

Strategic Planning: Obtain Feedback Without Using Surveys

Spending tons of money and months collecting customer feedback can be too overwhelming and cost prohibitive for many companies developing a strategic plan. But still, obtaining feedback is crucial for [more…]

How Do You Deliver Value to Your Customers?

Because strategic planning is about focusing on the right things, keep your customers’ values in the forefront of your planning efforts. For many owners and executives, focus represents the biggest roadblock [more…]

How to Build Your Strategic Foundation

Before you can really develop a strategic plan, you must know why you’re doing what you’re doing (your mission), where you’re trying to go (your vision), and how you’re going to go about it [more…]

Strategic Planning: Focus on Your Most Valuable Customers

Most companies lose about 25 percent of their customers every year for a variety of reasons. As you build a strategic plan, recognizing that you’ll lose customers is important, yet maintaining existing [more…]

Strategic Planning: Resources for Understanding Customer Relations

By looking at your operations through your existing customers’ perspectives, you can conduct more business with them. And armed with this information, you can make strategic decisions that raise your worth [more…]

Strategic Planning: What is Your Business Model?

No matter what your business, you have a business model--the essential core of what you do and how you do it. A business model can be simple or very complex. A restaurant’s business model is to make money [more…]

Strategic Planning: Create Value with a Business Model

Assessing and possibly redefining your business model, no matter what type of organization you are, can be a powerful and enlightening part of your strategic planning and management process. Many organizations [more…]

Strategic Planning: Business Model Case Study

During a recent strategic planning process, Calvary Baptist Church, a large congregation with three large campuses, explored a significant strategic shift [more…]

How to Reach Your New Strategic Target Markets

No matter whether you’re strategically targeting 18- to 34-year-old high-income males or 65- to 85-year-old fixed income retirees, you’ve got to reach them effectively and efficiently. That means finding [more…]

Strategic Planning: The Cycle of (Product) Life

From a strategic perspective, looking at where your product or service is in its life cycle helps determine actions in each of the Four Ps (product, price, promotion, and place) related to your target [more…]

Keep Your Strategic Plan Market-Focused

The process of researching, segmenting, targeting, and reaching new customers doesn’t need to be something you do only when you’re focused on finding new customers. In fact, world-class companies have [more…]

Strategic Planning: Market Research Information Sources

You know what kind of market information you need to develop your strategic plan, but now you’ve got to go out and find the answers. Doing market research can be like pulling on a never-ending spool of [more…]

Your Strategic Plan’s Target Customer Profile

You must know your customer well before you can develop a strategic plan to get and retain that customer’s business. To visualize your ideal customer, create a customer profile or detailed description [more…]

Strategic Planning: Research New Customers

In business and strategic planning, finding new customers is the role of marketing. After you sift through all the semantics, misused business lingo, and fuzzy concepts, marketing is really pretty simple [more…]

Strategic Planning: Research New Markets

Good market research ensures that you don’t spend a lot of time and money on strategic plans and marketing campaigns that customers don’t jibe with or new products that they won’t pay for. To be effective [more…]

Strategic Planning: Create Your Target Market Segments

The goal of creating target markets in a strategic plan is to target specific customers who have similar needs and wants with the same message, products, and pricing and through the same distribution channels [more…]

Strategic Planning: Types of Market Segments

Strategic market segmenting can be confusing and more difficult than it needs to be. Remember, there’s no right or wrong way to segment your market. Segmenting requires creativity. Take a shot at creating [more…]

How to Define an Attractive Market Segment

Choosing which target markets to pursue in your strategic plan can be challenging. You may want to target all segments, especially those that are growing and appear very profitable, but resist the temptation [more…]

Strategic Planning: Your Positioning Statement

To get customers and potential customers to pay attention, you must clearly and strategically position yourself in your customers’ mind. To do so, you need a positioning statement that guides all your [more…]

How to Write Your Strategic Positioning Statements

The purpose of writing a positioning statement during strategic planning is to ensure that all your marketing activities for a customer group are consistent and clear. [more…]

Strategic Planning: Positioning Statement Examples

Sometimes a strategic positioning statement sounds like a tag line or a slogan. That’s fine, but remember that the purpose of a positioning statement isn’t to be cute. Instead, its purpose is to help guide [more…]

SWOT Analysis: Economic Indicators

Economic indicators can be frustrating to watch because today’s news often contradicts yesterday’s report. Nevertheless, the economy is probably one of the biggest influences on your business. [more…]

SWOT Analysis: Social Shifts

When analyzing threats and opportunities, cultural and societal shifts are probably the hardest to spot because the results of these forces affect a society’s general attitudes, preferences, tastes, and [more…]

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