8 Examples of Winning Business Strategies

8 Examples of Winning Business Strategies:My experience has led me to work in different contexts with the aim of marketing diverse and varied solution

8 Examples of Winning Business Strategies:My experience has led me to work in different contexts with the aim of marketing diverse and varied solutions. My conclusion is that there are probably as many examples of business strategies as there are businesses in operation. But in your case, what is the good strategy of business to be adopted?

The ideal business strategy is one that maximizes the profitability and sustainability of your business over a defined period of time taking into account your current and potential resources. The realization of a regular balance sheet of the actions carried out makes it possible to determine where to reinvest.

In this article, I present different examples of concrete and effective business strategies that may help you execute your business idea.

8 Examples of Winning Business Strategies
8 Examples of Winning Business Strategies

Example 1: Approaching niche markets

As you know, we live in an increasingly competitive and less certain world.

So it’s not uncommon to find a large number of players dominating the market you want to enter.

In BtoB, a winning strategy can be to direct your solution towards solving the problems encountered by a particular sector of activity.

Let’s imagine that you operate in the energy sector… By focusing on commercial prospecting for SMEs in the renewable sector, you will be more effective with this specific target than if you attack the entire market.

Another example, if you are in real estate, a focus on the commercial property segment of a certain square footage can also be a niche approach. You thus bring a value proposition and a different mastery from those who are not specialized in a certain target.

The risk of this business strategy:

Be careful to check that the segment you want to attack has the wind in its sails.

Indeed, studying long-term trends will allow you to avoid building your business model on a niche that is on the verge of extinction.

That would be a shame…

Example 2: Expanding its offering to existing customers

Often, no need to look very far… Your current customers are clearly an unbeatable source of information. Thus they can guide you in choosing the best business strategy to adopt.

By taking an interest in their activities and the challenges they encounter, there is a good chance that you will detect additional and common problems.

In this case, you can offer them a complementary solution to the offer you already have to maximize your earning potential on these existing accounts.

Make sure you have really identified that the need is strong before setting off on major projects. Your company can within the framework of this commercial strategy move towards partnership with other companies and form synergies.

For example, as a website creation company, you can develop a partnership with a freelancer who creates mobile applications for the same targets as you.

This way, you can exchange your address book and enter a virtuous circle.

The risk of this business strategy:

By wanting to sell a wide range of products and services to your customers, you reduce your price negotiation power. In addition, an error in the choice of the partner with whom you collaborate can cost you dearly in terms of long-term image.

Example 3: Approaching large accounts

For some companies, doing most of their business by getting closer to large companies allows them to drive their growth potential.

In this way, they confront the problems of a single company rather than having to manage several. The idea is that these large companies have greater resources and can invest in generally more expensive solutions.

It is important to keep in mind that the purchasing processes of large companies are also longer and put you in maximum competition to negotiate prices.

This business strategy will be heavily based on customizing your solution to those key accounts you are targeting. A good way to do this is to create a group of those companies who have this similar problem and really try to build a relationship with them little by little.

The objective here is to become a sort of department external to your client (and that he can no longer separate from you at the risk of jeopardizing his own growth).

The risk of this business strategy:

The danger of this business strategy is that you risk losing a large part of your turnover if your client decides to change provider. If your value proposition is easy to replicate, move on.

Example 4: Adopting an innovation business strategy

Offering an innovative solution to your prospects is a winning business strategy when competition becomes too fierce in your market.

The SONCAS method can also put you on the path to this strategy when the psychological lever of novelty is important.

The 4 main methods of innovation are:

Incremental innovation , which consists of differentiating yourself through new functionalities that optimize your product or service. A market study is necessary in this case to avoid the flop.

Innovation on the customer experience. In the case of a recruitment firm, you can bring a new approach to the selection of the candidates you provide. This may consist of carrying out assessment and personality tests that your competitors do not use.

Adjacent innovation: That is to say when you integrate a functionality that already exists on another market into your product. We can take for example the Bluetooth function built into the car.

You can achieve a marketing innovation of your solution. Video communication on social networks is a little-used lever today. Its simple use can make your approach innovative for your prospects.

The risk of this business strategy:

By trying to create something new, you take the risk of investing in an untested business model. Conducting a market study is often required before embarking on this type of project.

Example 5: Focus on a unique offer and master it

Why diversify when you have a product or service that works?

Sometimes the right business strategy to adopt is simply to maintain and improve upon your current approach.

Concentrating on a single offer makes it possible to strengthen cost control as well as its reputation for a specialty.In the context of this approach, your resources are filled to improve a limited number of products and services.

This also leads you to improve the added value of your solution compared to your competitors. There’s no risk of posting yourself too thin, and your sales force will also focus on a single sales process and this can help you close more sales.

For example, a publisher of CRM-type IT solutions can offer advanced and customizable functionalities to sales departments.

It will be more credible in this product segment 🇹🇭an a company that does everything. (Who would you trust more with a CRM, salesforce or Microsoft?)

The risks of this commercial strategy:

If you select the wrong market, the wrong product or the wrong value proposition… you will not have invested in other alternatives and may have a harder time bouncing back.

Example 6: Adopting a freemium business strategy

Here,✔️ the goal is to offer a free solution that solves a common problem in your market. This product or service is so embraced because everyone likes what is free and useful.

If they want to improve their user experience, they can access very useful features that are paid for. Your commercial strategy thus consists in selling paid advantages on a product by personalizing them to your target.

This business strategy is widely adopted by SaaS (software as service) businesses. It is very effective… when it is well managed and requires a lot of patience.

Risk of this strategy:

Attract only prospects who are hunting for what is free and who never convert into customers. This business strategy can be dangerous if you do not control your costs and you do not have a good system to analyze the behavior of your users.

Example 7: Respond to RFPs

Some companies make up the bulk of their commercial strategy by positioning themselves on calls for tenders. These can be public or private and generally require expertise and proven know-how.

To succeed in winning these markets, you have to develop a specialist approach and learn to prepare solid files to differentiate yourself from the competition. Here are 5 tips to know before getting started:

  • Position yourself on calls for tenders that you control
  • Build relationships with decision makers
  • Identify the key success factors to be selected
  • Write a clear, relevant and competitive offer
  • Show references and master deadlines

In France, you can use reference sites such as: France Marchés to search for public and private tenders.

The risks of this commercial strategy:

Responding to calls for tenders is often a complex and very time-consuming process. Even if there is a strong reward at stake, you have to pay attention to hidden costs and keep your budgets under control.

Example 8: Focusing your commercial strategy on volumes

If buying power in your market is low and you want to shorten the sales process as much as possible, you can adopt a volume-based trading strategy.

Your product should be simple to use, easy to acquire, and quick to buy. Returning to the example of the recruitment firm, this can be the marketing of psychometric tests or low-cost management applications.

For a real estate agent, this may consist of renting properties of a lower range.

In the case of a service ✅, it is better to automate the sales process as much as possible to be profitable. Indeed your selling price will be low and therefore your margin too.

Risk of this strategy:

Sales volume oriented business strategy can be stressful. If you don’t make large amounts of sales, you risk incurring a large inventory of idle resources that will end up costing you dearly.

There are no perfect business strategies, but these 8 examples take stock of what companies are adopting. I hope this can give you ideas to create what will be the most suitable for you. If you liked this article, I invite you to read discover this counterpart guide on the communication strategy .

Post a Comment