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The primary step to building a unique Business Strategy is to figure out how unique the company is and have a plain comprehension of its practical strategic opportunities. Building strategies upon the uniqueness of the company highlights competitive gain and makes it more difficult for the competition to get at the same level.
The first strategy to consider is simplicity. Everything does not always have to be based off of technology. Sometimes keeping it simple is the best way. A good example would be the strategy used by ‘Pocket Poppet’, a popular company that sells cardigan sweaters that are able to be folded into a women’s purse. This piece of clothing is a smart and convenient invention, especially for individuals that travel often. There may be times where the temperature is too cold or too hot, and the Pocket Poppet cardigan sweater can become handy to be used or put away.
The second strategy is niche marketing. Focus on what is under-served in the market and implement that into the company. For example, owners of apartment buildings have advertisements to rent out units and any person is eligible to rent it. This type of marketing has worked well for a long time. On the other hand, companies such as Ultris is not the usual type of landlord. Ultris looks for renters that are in the military, were previously in the military, and civilian workers that need housing adjustments due to work re-locations. Depending on the occupant, their residential options vary from a hotel experience to unfurnished apartments. Militants are always on the move, but with these housing options available it helps them focus on their significant work for the country.
The third strategy is customized outcomes. In business, the “one size fits all” rule does not apply. The uniqueness within the company is what is expressed in the outcomes. A fitting example would be ‘Orbit Media’, an accomplished Chicago based software development company that concentrates on content strategy and development for its customers. Each customer has their own needs and therefore every outcome is different from each other. As a strategy, it is critical to make the uniqueness of every client stand out. Customizing outcomes emphasize the advantages of the clients and increases the return on investment of the development cost.
Lastly, the fourth strategy is automated customer experience. An app called Monscierge assists guests to connect with the hotel they are currently living in, and also take advantage of everything they have to offer locally. Just like the role of a concierge, Monscierge guides customers to get the most out of their travel experience through swipes and taps on a smartphone. They also have kiosks in the lobbies of hotels and allow people to download and use the app before and during the stay. Through this app, the customers and the hotel are able to communicate with one another and it lets customers have control over their travel experience.
Following these strategies and focusing on the uniqueness of the company will let businesses be on top in the market.