In today’s marketplace, we can notice tons of different businesses that deal with so many different things. There are also thousands of different business models that generate good revenues and manage to maintain profitable activities.
Because of the fact that nowadays business environment offers a great deal of variety, everyone can choose to personalize his marketing strategy and obtain different results. Along with the “modern business boom”, competition has become a critical factor to consider when developing any type of business.
You should take this aspect into consideration whenever you’re planning a start-up or whenever you’re developing a business strategy. Without a proper business strategy, you can never reach the mass amounts of potential customers that are ready to be approached.
If the marketing strategy plan is not efficient, your business (offline or online) will not be as efficient as you imagine. That’s why it is always important to consider it before even attempting to invest your money and time.
In order to create a successful plan, you will also have to use different strategy planning methods. In this article, we’ll talk about five productive ways to create your business strategy plan by taking advantage of writing. But why writing? Let’s examine first why writing is so essential to any form of business.
The Benefits of Writing in the Modern Business Environment
Writing brings up a lot of useful benefits that will definitely improve your efficiency while managing your business. Here are few reasons why writing is a must when it comes to any type of business strategy planning and business promotion.
Write Down Your Plan
If you don’t have a plan, you’re walking towards a destination without taking advantage of a map. That’s not an efficient strategy. All business owners and entrepreneurs understand the importance of planning.
“Every minute you spend in planning saves 10 minutes in execution”. – Brian Tracy
There are some useful business strategy planning tools around the web, but the most efficient way of organizing your future actions is by writing them on a piece of paper or organizing them into a document.
No matter what you do, choose to plan things on your own by writing them down. Whenever you do a writing activity, your subconscious mind will capture the information and constantly analyze it. Eventually, you’ll come up with powerful solutions out of nowhere!
Here are the three main benefits of writing in our current business environment:
#1: Ability to Create Content
In today’s marketplace, “content” represents written words, videos, audio podcasts, and everything that’s considered information that is transmitted from point A to B.
Writing content is going to help your business big time, as you’re going to save a lot of funds by avoiding the outsourcing of this expensive service. It’s also going to keep your business consistent, as you’ll be able to provide valuable content to your audience.
Related: The Five Elements of Quality Content (According to an End-user)
#2: Better Organizing
Writing is a very useful and empowering activity. Another benefit of writing is the fact that you are training your brain every time you put up the mental effort and come up with new written words. You’ll be able to express your ideas with more clarity and precision, and solving problems will become an easier task.
#3: Memory Improvement
Do you want to improve your memory? Well, start writing. It has been proven many times: writing will help you create a better memory power. Therefore, remembering things, facts, and ideas will become way easier.
As time passes, your memory becomes less efficient. In order to avoid that, write consistently and train your brain to remember more stuff.
5 Ways to Plan Your Business Development Strategy through Writing
We’ve already established that writing can bring us a lot of mental benefits along with our desired business results. Now let’s talk about five good ways in which you can plan your business development strategy. We’ll also take a look at how each of these strategies is going to improve your business success.
#1: Establish Your Business Purpose
Whenever you’re building a business plan, you need to start with this particular aspect. The purpose of your business represents the most important element of your future activity. How is your product or service going to help the marketplace? What needs will it satisfy, and why would anyone choose you instead of your competition?
Take a piece of paper and start with this short exercise. Try to write your business purpose in one sentence. Write 100 sentences if needed, but at the end of the exercise, you should stick to one sentence. That phrase will be the foundation of your business and will eventually help in creating and developing your brand’s image.
#2: Identify Your Target Audience
Who will use your services or/and products? That’s the first question that should pop up in your head after establishing your business purpose. While your target audience dictates the demand, you must be the one who brings up the offer. Here’s another useful exercise that should get you started:
Again, take a piece of paper or use your Word processor. Start brainstorming and imagine your ideal target customer or follower. Instead of thinking of a crowd of people who could use your services, create an idealistic description of your ideal target audience member. Write down his qualities, his principles, his problems, and his needs.
After you’re done with that process, you should start relating your final product or service to your ideal customer. Does your offer satisfy your customer? If not, start optimizing!
Related: Why Customer Profiling Could be the Best Investment your Company Makes
#3: Plan Your Monetization Ways
How exactly are you going to obtain revenues? How about the ways in which the money will get to you? Will you use Paypal to extract the money, or you’ll go with the traditional credit card transaction methods? These are all aspects that need to be seriously considered when dealing with any type of business.
You should also decide the price of your services by taking into consideration your biggest competitors. This planning should also be written down; no matter what methods you use (handwriting, Word, other software), making sure that your ideas and to-do lists are written by yourself is the best way to assure a proper strategy development.
Related: How to get Tangible ROI in Joining Events with a Little Help from Content Marketing
#4: Develop Your Brand’s Image
Every business should use branding techniques in order to establish itself as a trustworthy and accessible choice. If you have a brand image, your business results will exponentially improve. And that is because when a customer has to choose between a no-name product and a brand product, they’ll always choose the last option.
Start deciding what’s special about your brand. What angles will you use in order to make it unique? Will it promise something great, will it be recognized for its cheap services? Whatever you do, never go further without taking care of this aspect.
Related: How NOT to Market your Product: 9 of the Worst Branding Failures
#5: Establish How You’re Going to Expand and Scale
If you want to be successful, you must also consider the long-term position of your business. You need to figure out the ways in which you’ll evolve and develop your brand’s awareness. Besides that, how are you going to improve your offer by offering more services to more audiences?
You should take some time and figure out the future of your business. Start noting down your ideas and your possible action plan. By doing so, you’re creating a bigger “map” and a clearer path towards your final business goals.
Related: Diversify or Die? Here’s How to Thrive in Newer Markets
Developing a successful business development strategy is not an easy task. Taking advantage of all of the helpful available tools and strategies is the smart thing to do for any kind of entrepreneur or marketer. Writing can truly be the key to a successful strategy planning activity.