Most companies are playing defensive..but maybe that’s not the right way to go about it. A great perspective by Gokul Rajaram (he is speaking at UnPluggd):
Defensive strategies might help a company survive, but thriving is an entirely different matter. In order to exit the recession in a stronger competitive position and to lead their market, companies must play offense. Offensive strategies can be grouped into the following buckets:
- Increase operational efficiency: Lower variable costs, inclusive of customer support; improve sales and marketing efficiency; and create more nimble and flexible business processes.
- Improve customer retention: Figure out scalable ways to get your existing customers to stay with you longer.
- Test marketing strategies: Experiment with new marketing channels and strategies to acquire customers.
- Serve new customer segments: Grow your addressable market through new products/features, geographical expansion, or channel partnerships, either organically or through M&A.
- Uplevel your team: Take advantage of top talent availability to shore up weak areas of your team.
By: Gokul Rajaram / Read