It defines the mission, markets, and advantages your company needs to make your number in 2016. Still, you don’t have to tackle these goals alone. In fact, if you want to hit your quota next year, you can’t afford to.
In other words, your Corporate Strategy fits into a specific hierarchy of objectives. In this year’s Make Your Number Workshop, we give you the tools you need to be sure your strategies are properly aligned.
So, what does this hierarchy of objectives reveal? It tells us that you can’t proceed with your Corporate Strategy until you have everything you need from Market Research.
Here’s why. Market Research must provide in-depth insights about your environment.
What Corporate Strategy Planners Needs From Market Research:
Your Corporate Strategy must define which markets you’re going to compete in, who you’ll be competing with, and which advantages will give you the leg up in those markets.
In order to help you make those decisions, Market Research must provide in-depth insights about the external environment in which you operate.
It’s the job of Market Research to feed your strategy with four main findings:
- Subsets of buyers who have common needs, priorities, and solution options
- Accounts in the market that are going to generate the most revenue
- How buyers make purchase decisions
- Market problems that exist for users
You need this information not only to ensure that your strategy is nailed down, but also to set the pace for the rest of the company to serve the marketplace well. Here’s why.
How You Should Use This Market Research Information:
With these insights from Market Research, you can move on to tackle the eight phases of your Corporate Strategy: Mission, Vision, Values, Brand, Objectives, Markets, Competition, and Advantages.
Only with the analysis of the marketplace can you focus on defining these goals for your organization. Specifically, the final three steps of your Corporate Strategy–Markets, Competition, and Advantages–can only be finished with a solid understanding of the markets you’ll have the option of tapping into.
The lesson here? If you don’t have everything you need from Market Research yet, communicate to their team that you can’t proceed with your Corporate Strategy until they’re done. If you do have everything you need, it’s time to define your strategy so the rest of the company can work on theirs.
To complete the eight steps of your Corporate Strategy, register for the SBI Make Your Number in 2016 Workshop today. We’ll walk you through how top performers are aligning their strategies, and position your organization to succeed in the year head.