Acquisitions and mergers | Affiliate marketing initatives |
Alliance marketing initiatives | Automate work |
Better manage risk such as cybersecurity risk | Build customer relationships |
Buy small innovative companies to remove them as a threat | Camping strategy – move sales closer to customers |
Collaborate with complementary businesses | Communicate product benefits to target market |
Competitive pricing | Conversion optimization |
Cost leadership – lowest cost in industry | Cultivate ethical business practices |
Customizable products | Develop a strong brand image |
Develop a valuable and unique position for products in competitive markets | Develop new products |
Develop new technologies | Differentiate products from competitors |
Distribution partnerships | Diversify product and service offerings |
Efforts to increase team and employee productivity | Engage customers, influencers or lead users to improve products |
Enter new markets or industries | Entering relatively new, untested or untapped markets |
Establish a unique brand identity | Exceptional customer service |
Exit strategy - figure out how to sell the business | Expand distribution channels |
Expand market presence | Experiment with new products, services and business models |
Experiment with new technologies, processes and methods | Extend brand to new products |
Focus on a customer segment | Focus on a distribution channel |
Focus on a geographic market | Focus on a product or service line |
Focus on a target market or set of customer needs | Franchising |
Horizontal diversification – new products at same level of the value chain | Identify and target specific customer segments |
Implement cost-saving technologies | Implement environmentally-friendly practices |
Implement new processes | Improve brand image |
Improve operational efficiency | Improve product and service quality |
Improve product design | Improve the close-rate for sales |
Improve the customer journey | Improve visual brand identity |
Incentives for customer referrals | Increase brand recognition |
Increase customer engagement through digital channels | Increase economies of scale |
Increase promotion efforts | Influencer marketing |
Insourcing | Internal branding |
Introduce productivity tools | Joint ventures |
Launch advertising campaigns | Launch or improve loyalty programs |
Leverage new technologies | Licensing |
Manage and improve employee performance | Manage and improve partner performance |
Move towards greater operational maturity e.g. implement automation and internal controls | Offshoring |
Open innovation – open up your efforts to innovate to gain community support and adoption | Optimize digital marketing efforts |
Optimize pricing strategies for different segments | Optimize the marketing mix - product, price, promotion and place |
Outsource non-core functions | Outsource to access expertise and technology |
Outsource to focus on core competencies | Partnerships to cross-promote products and services |
Partnerships to expand market reach | Partnerships to jointly develop new products and services |
Partnerships to reduce risk | Partnerships to share research and development costs |
Partnerships to share resources and knowledge | Personalize the customer experience |
Premium versions of products and services | Price leadership – lowest price on market |
Product research and development | Provide seamless customer service across channels |
Rationalize business processes | Reduce operating costs |
Reduce overhead expenses | Reduce unit costs |
Reduce waste | Reposition existing products |
Retrenchment – cut things that aren’t working | Revenue diversification |
Sales campaigns and contests | Social media marketing |
Solving customer problems with a win-win approach | Tailor products and services to meet specific needs |
Target products to serve changing customer needs or perceptions | Targeted marketing campaigns |
Test marketing – get new offers and products in front of customers | Transform your business model |
Unique and valuable customer experience | Unique marketing and advertising |
Unique product features | User innovation |
Using sales teams to reduce customer churn | Using sales teams to upsell and cross-sell |
Vertical diversification – moving up or down the value chain |
