Do you know how to position your company to gain a Competitive Advantage in the marketplace? Are you able to create new products and successfully bring them to market in a timely fashion? Have you identified specific, vertical markets that are the best fit for your products/services? If not, you’re losing revenue/market share to your competition!
The most successful companies use a strategic planning process (Go-to-Market Strategy workshop) to identify one or two mission-critical initiatives for the next 18 to 24 months and then they create a consensus action plan complete with dates, owners and time lines to support them. In addition, they create a contingency plan complete with milestones and “trigger points” should something go wrong.
As a result they are able to outsmart their competition, accelerate revenue performance and dominate their market. The six keys to dominating your market include:
- Define success…Know your Key Performance Indicators (KPIs)
- Know your customers…Segment your market place
- Know your competition…Establish competitive differentiation
- Document your businesses 5 “P’s”…Establish your unique value proposition (UVP)
- Establish your Go-to-Market (GtM) strategy…Including a written sales/marketing plan
- Leverage social media…Create your virtual business strategy (VBS)