By: Jeromy Puglisi
May 16, 2011
Building a winning strategy for your business can be a daunting process. An efficient and effective pursuit strategy is a major contributor to an organization’s long term success and should be based around a strong set of quantifiable goals. Without a strategy and a team committed to achieving organizational objectives, any system or process you develop will likely fail.
A defined, repeatable, managed, measured and optimized approach provides multifaceted benefits. Pursuit strategies:
- Result in winning more business from fewer, better-qualified opportunities.
- Raise overall win probability.
- Decrease costs.
- Improve the quality of life for everyone involved.
The central philosophy behind pursuit strategies uses a Six-Sigma approach to developing business and stipulates that if you can measure how many “defects” there are in a process then you can systematically figure out how to eliminate them and win more business.
A pursuit strategy is a quantifiable process that demonstrates how an organization will acquire new business and gain more business from existing clients. A Six-Sigma mindset is especially critical when pursuing strategic accounts. Increasing win performance and decreasing decision-cycle down time will make or break a fiscal financial reporting period. Each one of these strategic pursuits is so important that you must be flawless in your pursuit execution.
The deployment of Six-Sigma principles uses a methodology called DMAIC and significantly increases an organizations probability of winning business.
- Define: It is important to define specific goals in achieving outcomes that are consistent with both your customer’s demands and your own business strategy.
- Measure: In order to determine whether or not defects have been reduced, accurate measurements must be made to determine whether or not defects have been reduced.
- Analyze: Analysis is extremely important to determine relationships and the factors of causality.
- Improve: Making improvements or optimizing processes based on measurements and analysis can ensure that defects are lowered and processes are streamlined.
- Control: Control ensures that any variances stand out and are corrected before they can influence a process negatively causing defects.
Utilization of DMAIC guarantees your processes are well defined, that you are measuring results and continuously analyzing/learning/improving/maturing and controlling the process. It is important that this mindset be present in all aspects of the pursuit strategy. Regardless, whether you are winning or losing you must use these experiences to gain intelligence and adapt your strategy to fit your market.
Adapting to your market is the most important challenge for any small business, and that’s where Managed Media separates itself from the rest of the marketing and communication agencies out there. Managed Media was created in response to all of the internet marketing garbage in today’s business world. Managed Media was designed to be an extension of your business – we are your part-time employee sitting your “remote office.”
There is no simple way to define strategic communications. It builds a brand. It changes perception. It connects your organization with people and moves them to action. Smart strategy makes communication meaningful – to your audience and your bottom line. You need to ask the right questions to translate your business objectives into effective communication strategies. You need to position your product and provide value. Let Managed Media help you develop a strategy before you get left behind.