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Business Strategy

The latest business strategy articles, advice and insights from the ProfileTree team.

What Is The Marketing Mix? 7 Key Elements

What is the marketing mix? Well, the goal is simple – delivering the right product to the right customer at the right time, and at the right price. Making that happen is where the marketing mix becomes a keystone for your business. For example, the best products can sit on the shelves without the right […]

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How to Build an Empire: Foundations for Your Business Empire

Is your goal to build an empire around your business? That dream, held by many, doesn’t happen overnight. In the days of online entrepreneurship, the question of how to build an empire is more common than ever. So, what does it take to achieve success? And where should you start? Building a business empire is […]

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What is Google Hangouts? Ultimate Guide

What is Google Hangouts? The platform was developed by Google as a way to facilitate communication using VOIP features, messaging and video chat for Google users and is a free tool ready for use today. Here, VOIP stands for voice over internet protocol. In other words, VOIP is a way of making phone calls over […]

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What Is Corporate Strategy? 3 Steps to Success

What is corporate strategy? Simply a well-defined long term portfolio approach set by an organisation after analysing their business carefully. Its main purpose is to create maximum corporate value while motivating their workforce to implement the right actions to win customer satisfaction. Companies that want to provide customer value successfully must go back regularly to […]

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What Is A Value Proposition? Lessons From Ikea

A value proposition is a marketing statement for a business. A company uses this statement to illustrate the reasons a potential target group should purchase a product or subscribe to a service. So straightforward…but vital for your business! The purpose of a value proposition is to persuade a customer or a group of customers that […]

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Maslow’s Hierarchy of Needs: The Key to Understanding Your Target Customers?

Why should you care about Maslow’s Hierarchy of Needs? Simple…because Marketing’s main focus is engaging with humans and that means understanding human nature, its needs, reactions and top priorities is a basic part of the marketing role. Maslow’s Hierarchy of Needs can play a major part in this. For that reason, marketing and psychology usually overlap. […]

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Pay Per Click Advertising Explained

Digital advertising is a rapidly growing, constantly evolving industry. In the era of fast internet and emerging apps, it is an absolute necessity to maintain a high online presence. Pay per click advertising could be your key to great visibility and results. The spike in online advertising comes from its advanced targeting technology and lower […]

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Purchasing Company Insurance: Ultimate Guide

Company insurance is what protects a company from any losses or damage caused during the regular course of business whether it is related to damaged property, legal risks or employee-related accidents. Say you run a shipping company. The truck transporting the goods from point A to point B gets into a car accident. The driver’s […]

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What is Financial Management? Essential Overview

If you’re in business you’ll know that surviving as a company while also investing in growth are two goals you constantly need to balance. This is where financial management becomes essential. In fact, it is often the main factor determining the success of your business. At a basic level, if you spend more than you […]

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The 4 Types of Customer Segmentation: How to Correctly Apply Them and The Value They Add

No matter what your position is in the business world, the first thing you learn is the importance of understanding your customers. The various types of customer segmentation are crucial here. Even if you’re a customer, it’s almost always better to find someone who specialises in what you need. The closer a business’ offering matches […]

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Scratching the Surface: What is an Investment Portfolio

Investment portfolios, risk, return, assets and liabilities. We often hear these terms when any financial topic comes under debate. But, what does any of that actually mean? What is an investment portfolio? Before delving deeper into any financial terminology, we must first understand investment. Why do people invest and how do they go about it? […]

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Customer Care: Skyrocket Sales With Customer Relations

In today’s competitive market it’s hard to stand out. Only a handful of startups blow up and get a piece of the cake controlled by large corporations. Many other businesses use great customer care to build up a dedicated following. Many factors are involved when it comes to the success of a business, all of […]

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Effective Sales Techniques: Close That Deal!

Developing effective sales techniques is a huge challenge. Today, potential customers are bombarded with constant attempts to make them buy, from so many angles. Sales is a constant priority for almost every business. The good news? With the right strategy, knowledge, skills, and experience, you can not only close more deals but do so effortlessly. […]

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What Is Conversion Rate Optimisation (CRO)?

As a digital marketer, your goal is not only to generate traffic to your business’s website but to also ensure that the viewer is converted into a customer. This is known as conversion rate optimisation (CRO) This is done by tracking the actions of users on your website. To maximise a user engagement, it is […]

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The Professional Network: The Many Benefits of a LinkedIn Account

If you’ve been reading any of our simply gorgeous quality content for the past however long you’ve been doing so (humour us), then you’ll be quick to realize we’re particularly adept at quite a handful of things; Online marketing, analytics, design, app development and a smorgasbord of other such topics. But our favourite so far […]

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What Is Copyright Infringement? Practical Guide

It’s often too easy to underestimate how far the law can reach. This is especially true in the internet age. With so much information out there, it can be difficult to understand how copyright infringement works. There are many, many rules with regards to almost each and every little thing you can legally shake a […]

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Non Copyrighted Images: How and When to Use Them

They say a picture is worth a thousand words. In the world of sales and marketing, this is doubly true. One cheap and easy way to take advantage of this is by using non copyrighted images. You can use images to make just about any piece of text more effective. Pictures can be placed in […]

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What is Perceived Quality? Ultimate Guide

It’s interesting when you think about which brands we use and why. This is without even realising if they’re the best bang for buck, or if they’re as “effective” as we think they are. This comes down to perceived quality. It’s relatively safe to say that all of us have some sort of unexplained bias […]

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Business Objectives and Goals: Defining the How

As a general rule, planning and organization are critical for a business. Most of the causes which lead to the failure of any business related to lack of planning and organization. Setting business objectives is one of the basic keys of planning and organizing. Be it a project, a marketing strategy, or a yearly plan, business […]

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Brand Perception: Let Your Customer Share Your Vision

Brand perceptions are directly tied to profitability. Afterall, branding is at the core of how customers interact with your customer. All other sales and marketing activities are fed by your company’s brand. Your company’s brand is a unique experience associated with a certain product or service. This means not only the tangible part but also […]

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What are Negative Keywords? Learn an SEO Essential

In the advertising field, identifying a keyword is important in determining the types of viewers you would like to see your page. This is crucial for attracting potential consumers of your product.  For example, if you are selling bicycles, important keywords would be, ‘bike,’ ‘bicycles,’ ‘for sale’ etc. On the other hand, negative keywords are programmed to […]

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Women Entrepreneurship: The Power of She

For decades, women have been struggling with rigid social restrictions and fighting for equal rights. With the industrial revolution came the shift from farming to manufacture and labour. For some time, taking part in these jobs was exclusive to men. These effects are still felt by women entrepreneurs. Bit by bit, that has changed thanks […]

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What Is Quality Assurance? Thriving for Perfection

With the industrial revolution and mass production came many new responsibilities. The process of manufacturing became much more complicated The number of products increased insanely compared to older methods. Changes bring about new concepts. Quality assurance is a concept that is adopted by almost all businesses nowadays. What is quality assurance? It is a sign […]

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What Does Freelance Work Mean? How to Become a Freelancer

In the modern age of the Internet, it has become quite easy to work from home. One way to do this is to become a freelancer. This opens an opportunity for individuals to work for various companies from home, and they are often paid by the job. Freelancing can be beneficial to individuals looking for […]

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Business Strategy Insight

To be able to set up, develop and grow a successful business, regardless of the industry ─ a good business strategy is vital. Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Most businesses start small and stay there.

But if that’s not good enough for you — or if you recognize that staying small doesn’t necessarily guarantee your business’s survival — there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. Coming to the realisation that your organisation needs one is easy. However, creating an actual strategy is a little trickier.

While it may sound a bit daunting, iterating like this actually makes strategy easier. It will save you from endless visioning exercises, misdirected SWOT (the Strengths, Weaknesses, Opportunities, and Threats) analyses, and lots of heroically uninformed big thinking. Crafting your strategy in relatively small and concrete chunks and honing the answers to the five questions through iteration will get you a better strategy, with much less pain and wasted time.

Questions to ask when building a business strategy:

  • Why are you here?
  • What is your USP (Unique Selling Proposition)?
  • Who is your perfect customer?
  • Why buy from you?
  • What is your go-to marketing strategy?
  • Who are you focusing on?
  • What is your pricing?

In follow-up meetings to discuss your progress, it’s also important to revisit your action plan regularly and to continually update it. Allowing your action plan to be surpassed by developments in your company is a sure way for it to go above and beyond.