Congratulations, your company is profitable and ready to expand! You have a solid vision, but are not sure of how to scale processes and practices to deliver the same level of quality and customer service to a larger client base. re-View Business Strategies has more than 30 years of helping leaders manage change through strategic planning.
RBS will work with your leadership team to examine each aspect of your business model, refine the current methodology by assessing strengths, weaknesses, opportunities, and threats, and presenting our recommendations to increase your company's efficiency, productivity, revenue growth, and accountabilities. Our growth planning includes:
Although our strategies for growing your company encompassess all of those listed above, not all are applicable. After we have performed our initial analysis we will only use those strategies that will deliver your desired outcome. The following case study for Fix & Style is an example of how we custom our solutions and helped our client reach his ultimate goal of expanding market share and his service area.
Current Market Position - For our current market position study for Fix & Style our goal was to analyze their positioning in reference to their target audiences and from what percentage of the serviceable market they were capturing. Since we were involved in the inception of Fix & Style we knew our client was collecting demographic information from each of their customers and we used that information to map where their customers were coming from and the average dollar sale from each region.
Next we used area demographics to determine how large the serviceable market was and of that number what percentage F&S was serving as a percentage. This number gave us the basis for determining if market expansion made more sense within the current footprint or did we need to expand our marketing and advertising into different areas.
Competitor Analysis - Based on the market position study we determined that was a higher revenue potential ten miles north of the current location, but we needed to know what the competitive landscape was before deciding to open a second location. Using our analytic software we were able to determine there were six competitors within a five mile radius of the area our client was considering; (2) larger company and (4) smaller. Their sales were slightly below what we anticipated, but the most interesting question was why were consumers traveling out of market to have their phones serviced.
We conducted a SWOT (strengths, weaknesses, opportunities, and threats) analysis and realized two key factors; the competitors in the market competed mostly on price, which drove down quality as costs savings only came from lower payroll or cheaper equipment and their service times were well above F&S.
Business Model Review - With the information we now had, we wanted to revisit our client's business model to determine if their current value would translate in the new market. More specifically, would a consumer who was used to lower prices and longer service times pay for high quality and faster service? When you add in the cost of building a new location we quickly realized a change in the model was necessary.
The cost of building a new location, staffing, equipment, and marketing were too high for the uncertainties of a new market therefore, the decision was made to move the "brick and mortar" concept to a mobile platform. The concept was to market to consumers in the area for mobile pickup and deliveries, as well as approach corporate customers for onsite repairs on a monthly schedule. The mobile repair unit was one third the costs and could also take overflow from the main location.
Strategic Planning - After the final decision was made to move forward with the mobile strategy, we had several strategic planning sessions to set short and long-term goals, how the changes in the business model will be implemented, and what key performance indicators (KPIs) will let us know if the strategy is proceeding as planned. Our planning sessions also laid out the market entry strategies, which included the market plan, advertising, and campaigns for corporate customers. Customer Relationship Management (CRM) - CRM was the final piece of the strategy as it was our way of monitoring customer brand experience. We used a combination of customer service calls, surveys, an reviews on social media to determine how well the mobile concept was received and if there was justification for opening a brick and mortar location.C