Opinions expressed by Entrepreneur contributors are their own.
By Daniel Munar, Office Manager Colombia & México at Wayra Hispam
When we talk about undertaking and entering the world of innovation , we can say that it is the perfect design to generate the right business model, but to start composing this song it is important to know what is the rhythm that you want to take.
In order to be a composer of the strategy, it is relevant to keep in mind that when initiating a marketing strategy for a startup you have to get the best content from the planning. Therefore, these simple steps can be of great help to clear the panorama and thus achieve a better composition and give the best chords to this melody.
In the book Marketing According to Kotler by Philip Kotler , the author makes an approach on how to create, win and dominate markets with a direct style, from where what consumers need and want is evaluated, in order to generate loyalty.
Why is it important to have the best tools for the best song? Because the total success of the moment depends on them. Taking these steps into account will help a startup have the best growth rate:
1. Market penetration: The startup must increase its digital communication channels, this is a plus that centralizes the distribution and consumer channels.
2. Product or service development: Being impressive and innovative will always be attractive, the solution in a trend market in IoT, for example, can be an important axis in different economic sectors.
3. Diversification: Expanding the lines is opening the horizon to new massive consumption channels, generating an operational strategy allows connecting to seek the appropriate support, to generate solidity and exponential growth.
To be the hit of the moment, startups They must be the perfect mix between technology and digital transformation, make the leap to different verticals that automate processes. Wayra Hispam actively participates in the entrepreneurial ecosystem, by investing to grow business opportunities, thereby allowing companies to become a trend and meet customer needs, while generating solutions and increasing productivity.
As in the world of music, creativity has to fly to grow in an economic environment and for this you need to have the best version, a good sound and an excellent mix. In this digital world, composing a strategy is a process that will determine the best concept, which is why it is necessary to discover the capacity of the brand or service to be the ideal attractor in the market.
As a key point is to identify the opportunities and for this, some tips that can help you generate the perfect mix are: segment the final consumers, be clear about the data of the people who can be attracted through the brand and analyze the decisions purchase by end consumers. The above will give a better horizon on a plan that can bring in new clients to close a sale.
The key point is to identify the opportunities / Image: Depositphotos.com
Another element is to conduct a direct competitive analysis. If we talk about innovation, sometimes we can believe that we do not have competition over our business model, but it is very necessary to review different verticals that existing players in the market can highlight. In this case, for a strategy it is good to give concepts and analysis, for example: Which brands in the industry are growing significantly and why? What is the value proposition?
Another important recommendation when composing your strategy is to have an indirect competition analysis. Opportunities can also be found by looking at substitute industries. Complementary products and services from other business models can generate a performance trend that needs to be considered when making investment decisions.
After these tips and concepts, it was time to mix the ideas, hone a good destination, master the strategy and be able to give the final thrust to a future success fanatic. You cannot depend on the fate of the market, but rather have a frenzied enthusiasm to be the innovative brand that generates added value and that takes you beyond the world of technology.