50 strategies t t i for winning in tough times
peterfisk@peterfisk.com www theGeniusWorks com www.theGeniusWorks.com
50 strategies g in for winning tough times 1
8
2
Faster
9
3
4
16
5
12
6
13
7
14
Create a new vision for the market
25
26
21
Time to launch new products
Streamline variable costs proactively 28
Give people Maintain a reason to confidence smile
Be the spokesperson for your world
45
34
46
41
Use staff as a trusted salesforce 48
Sell direct to your best customers 42
Customers choose the price
Use everything to sell 47
Enhance the total customer experience
Define the Gonew green value now points 35
Become the trusted advisor
Sell through unusual channels 40
Extend your payment terms
Meet more people and more often
More self service and user creation 39
33
27
Find a niche and be special for it
44
38
Reengineer Reengineer to for the “99” Share risk price points price points
Be human, passionate and caring
Reward Relationship behaviour chg building not retention
Franchise and license to new markets
Time to challenge the regulation 32
Focus on what makes you special
Educate customers to achieve more 20
Combine Accelerate luxury at low cost
31
Sales
43
Do more with fewer, better partners 37
Stimulate with short, select promotions
Participate in customers’ networks
Find new applications for products 19
Personalised becomes normalised
Stop doing Retain and unprofitable grow business
Focused
18
36
Design lower price entry points 30
24
Innovate for the upturn now
Make more free, charge for services
Emotionally empathise with people
Real
17
11
29
Drive physical and virtual advocacy
Channels & Partners P t
Pricing
Rearticulate Tell a different your brand story story 23
Target the premium downshifters
Introduce new business models
Target your Win and competitors winback customers
Distinctive
22
Be the customer champion
Break solutions into components 10
Connect with the new agendas
Innovative
© The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Find more profitable markets
Understand Changed the changing priorities priorities
Messages & Media M di
Propositions
15
Retain and grow the best customers
Smarter
Inspiring
Products & Services S i
Customers
Forget share, focus Profiton profitability 49
Cut costs Get our unrelated to there customers
Be bold, be brave, be brilliant
Customer strategies for winning in tough times 1
Retain and grow the best customers
Smarter
2
Understand the changing priorities
Faster
Best Buy
3
Connect with the new agendas
Innovative
4
Target your competitors customers
Distinctive
Tool 1: Customer Immersion 5
Emotionally empathise with people
R l Real
6
Stop doing unprofitable business
Focused 7
Inspiring
Š The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Create a new vision for the market
Seeing your business from your customer’s perspective, what they are seeking to achieve, and what matters most.
Product strategies for winning in tough times 8
Find more profitable markets
Smarter
9
Break solutions into components
Faster
10
Introduce new business models
Innovative
11
Make more free, charge for services
Distinctive
Tool 2: Market Maps 12
Personalised becomes normalised
R l Real
13
Combine luxury at low cost
Focused
Accelerate 14
Inspiring
Š The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Time to launch new products
Example of market analysis of your core and adjacent markets, understanding the relative growth and profitability within each potential market (defined by category, geography or customer segment).
Proposition strategies for winning in tough times 15
Be the customer champion
Smarter
16
Target the premium downshifters
Faster
Zara
17
Innovate for the upturn now
Innovative
18
Find new applications for products
Distinctive
Tool 3: Energiser Pyramid 19
Educate customers to achieve more
R l Real
20
Find a niche and be special for it
Focused 21
Inspiring
Š The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Give people a reason to smile
Consider what matters most to customers, in terms of essentials, what more you enabling them to do, and what really energises them emotionally. Then match products d t and d services i against each tier.
Communication strategies for winning in tough times 22
Rearticulate your brand story
Smarter
23
Drive physical and virtual advocacy
Faster
24
Participate in customers’ networks
Innovative
25
Focus on what makes you special
Distinctive
Tool 4: Marketing Networks 26
Be human, passionate and caring
R l Real
27
Streamline variable costs proactively
Focused 28
Inspiring
© The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Be the spokesperson for your world
Participating p g in the networks which customers belong to – associations, affinity brands, social networks. Use network marketing techniques eg email, blogs, etc to drive advocacy d and d referrals. f l
Pricing strategies for winning in tough times 29
Design lower price entry points
Smarter
30
Stimulate with short, select promotions
Faster
Tchibo
31
Time to challenge the regulation
Innovative
32
Reengineer for the “99” price points
Distinctive
Tool 5: Market Disruptions 33
Extend your payment terms
R l Real
34
Define the new value points
Focused 35
Inspiring
© The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Customers choose the price
Define the conventions of your business, then consider ways of changing them (such as inversing them) and how this sparks innovative ideas
Distribution strategies for winning in tough times 36
Do more with fewer, better partners
Smarter
37
Franchise and license to reach new markets
Faster
Smart
38
More self service and user creation
Innovative
39
Sell through unusual channels
Distinctive
Tool 6: Customer Experiences
40
Enhance the total customer experience
R l Real
41
Sell direct to your best customers
Focused 42
Inspiring
Š The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Cut costs unrelated to customers
Mapping each step of the customer (client and end user) experience experience. Eliminating what does not add value to them, adding ideas from other sectors and ways to add more value.
Sales strategies for winning in tough times 43
Reward behaviour change not retention
Smarter
44
Meet more people and more often
Faster
Avon
45
Become the trusted advisor
Innovative
46
Use everything to sell
Distinctive
Tool 7: Leadership Profile 47
Use staff as a trusted salesforce
R l Real
48
Forget share, focus on profitability
Focused 49
Inspiring
Š The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
Be bold, Be brave, Be brilliant
Understand yyour role as a leader within your business, within your partnerships, and within your industry. Define a vision, and engage people in working towards it, in tough ti times as wellll as good d ti times.
50 strategies g in for winning tough times 1
8
2
Find more profitable markets 9
Faster
3
Innovative
Break solutions into components 10
Connect with the new agendas 4
17
11
5
18
12
Emotionally empathise with people
Real
6
13
Stop doing Retain and unprofitable grow business
Focused 7
© The Genius Works 2008 peterfisk@peterfisk.com www.theGeniusWorks.com
26
21
Time to launch new products
Streamline variable costs proactively 28
Give people Maintain a reason to confidence smile
Be the spokesperson for your world
45
34
46
41
Use staff as a trusted salesforce 48
Sell direct to your best customers 42
Customers choose the price
Use everything to sell 47
Enhance the total customer experience
Define the Gonew green value now points 35
Become the trusted advisor
Sell through unusual channels 40
Extend your payment terms
Meet more people and more often
More self service and user creation 39
33
27
Find a niche and be special for it
44
38
Reengineer Reengineer to for the “99” Share risk price points price points
Be human, passionate and caring
Reward Relationship behaviour chg building not retention
Franchise and license to new markets
Time to challenge the regulation 32
Focus on what makes you special
Educate customers to achieve more 20
Combine Accelerate luxury at low cost 14
Create a new vision for the market
25
19
Personalised becomes normalised
31
Sales
43
Do more with fewer, better partners 37
Stimulate with short, select promotions
Participate in customers’ networks
Find new applications for products
36
Design lower price entry points 30
24
Innovate for the upturn now
Make more free, charge for services
29
Drive physical and virtual advocacy
Channels & Partners P t
Pricing
Rearticulate Tell a different your brand story story 23
Target the premium downshifters
Introduce new business models
Target your Win and competitors winback customers
Distinctive
22
Be the customer champion 16
Understand Changed the changing priorities priorities
Messages & Media M di
Propositions
15
Retain and grow the best customers
Smarter
Inspiring
Products & Services S i
Customers
Forget share, focus Profiton profitability 49
Cut costs Get our unrelated to there customers
Be bold, Be brave, Be brilliant
Action Labs … smart thinking, practical action ... in one day Market shaping strategies g “a crisis is a turning point… when customers and competitors change, and when new strategies g are created”
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Attracting and retaining your best customers
Customer Champions Improving
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effectiveness
seizing the opportunities of disruptive change g in your markets
Marketing for growth, profitability and value creation … Selling more by spending less … focus, measure, improve
peterfisk@peterfisk.com www theGeniusWorks com www.theGeniusWorks.com