Strategy & Action Plan

How good your product is, and your ability to sell it, is not defined solely by the product itself but by the perception of its value. The perception of value is shaped by the proposal you make when selling your product and how that proposal enhances the product’s appeal. In simple terms, when defining your sales strategy, you need to not only explain the product and set the price but also manage the perceived value of the product.

The Perceived value indicates how much a customer is prepared to pay for a product or service and how likely they are to become your customers.

‍The four types of customer value are functional value (practical benefits), emotional value (feelings and experiences), social value (status and connection), and economic value (cost-benefit analysis). You can add more value to your products and services by including additional offers, increasing the perceived value. Here are some examples.

👉The Irresistible Offer: This is when you present something that is nearly impossible to refuse. For example, bundling all options into one package for the price of a single item.

👉The Unique Offer: This is when you create additional value that only you can provide, such as offering a one-hour mentoring session with an influencer or expert in the field.

👉The Secure Offer: A proposal that removes any perceived risk for the buyer. For example, "Try the product for just $1 in the first week, and if you’re not satisfied, we’ll refund your dollar." The key here is eliminating any risks that might deter a customer from purchasing.

👉The Experiential Offer: This is about enhancing the experience around your product. Maybe it’s about joining a community or gaining access to high-quality training videos. The focus is on making the experience unique and valuable.

👉The Economic Value Offer: In this case, you highlight the economic benefits, such as time or money saved as a result of purchasing the product. This is a common and effective strategy.

👉The Scarcity Offer: People tend to value something more when it's perceived as scarce. Limiting the availability of your product or service can create urgency and drive people to act quickly.

Example: "Only 10 spots left," or "Limited edition – available only for 24 hours."

👉The Social Proof Offer: Highlighting the popularity of your product by showing that others are using and benefiting from it. This is especially powerful when influencers or recognized names endorse your product. Example: "Join 5,000 satisfied customers," or "Featured on top industry websites."

👉The Loyalty/Reward Offer: Giving customers additional value for sticking with your brand. A reward system or loyalty program can build long-term engagement and make your product seem like a better deal over time. Example: "Earn points with every purchase and redeem them for discounts or exclusive items."

👉The Premium Upsell Offer: Offering a premium version of your product or service with added features or benefits, making customers feel like they're getting exceptional value for just a little more. Example: "Upgrade to premium for just $5 more and unlock exclusive features."

👉The Bundle Offer: Creating product bundles that offer a greater perceived value than purchasing individual items. This can increase sales volume while making customers feel they’re getting more for their money. Example: "Buy two, get one free," or "Complete bundle at 30% off."

👉The Anchor Pricing Offer: Displaying a higher original price next to the discounted price to create the perception of a significant deal, even if the discount is minimal. Example: "Originally $199, now $99."

👉 The Free Add-On Offer: Offering a free bonus or gift with purchase increases the perceived value without necessarily lowering the price of your main product. Example: "Buy one, get a free accessory," or "Free ebook with purchase."

👉The Early Bird Offer: Rewarding early action by offering a special price or bonus to customers who purchase before a set deadline.

Example: "Early bird special – save 30% if you order before [date]."

👉The Customization Offer: Offering customers the ability to customize or personalize their purchase creates a sense of uniqueness and exclusivity. Example: "Customize your own product design," or "Personalize with your name at no extra cost."

👉The Guarantee Offer: Offering extended warranties or satisfaction guarantees can significantly reduce the perceived risk and increase trust in your product. Example: "Lifetime warranty" or "30-day money-back guarantee, no questions asked."

Incorporating one or more of these strategies can dramatically improve how your product is perceived, driving higher engagement and sales.

💥💫Steps:

Choose the right strategies with your team and add your notes in the grey section, defining which type of offer you will provide to your clients, which clients it applies to, and when it will be offered.

Watch this video to learn more.

Define the details, discuss exceptions, create an implementation plan, and share the strategy with the team.

[Define the objective and the expected results. If needed, share current results to enable a comparison between the before and after.]

[Define the objective and the expected results. If needed, share current results to enable a comparison between the before and after.]

In the world of marketing, success hinges on your ability to understand and meet the needs of your target audience effectively. Whether you're launching a new product, revitalizing an existing brand, or seeking to outperform your competition, having a well-structured marketing strategy is essential.🥳

The first step towards creating an effective marketing plan is to set clear and inspiring objectives. Every organization measures success differently, so it's essential to tailor your goals to your unique circumstances. Here are some examples to consider:

Try to be specific:

Discuss your objective during the meeting or add the objective inside the " Session Goals and Instructions "

🤓If you need to discuss some ideas, you can scroll up.

Provide insights into your growth strategy and the approach your organization plans to take for the year. A growth strategy is your action plan for gaining a higher market share and expanding your organization. Use this space to address any questions or concerns your team may have.

Tip: A growth strategy is an action plan that will help you get a higher market share and grow your organization. This strategy can be short-term or long-term.

If you are not familiar with the options, check out our card deck "growth strategy"

Watch before you continue.

Discuss and add your strategy to the board. Explore your product and how it satisfies your customers' needs. Engage your team in discussions about user expectations, the purpose of your product, differentiation, design, branding, and more.👉💯 At the core of your marketing strategy is your product or service. This "P" focuses on what you offer, its features, benefits, quality, design, and how it fulfills your customers' needs.

These questions will guide the discussion:

"Promotion" revolves around how you communicate with your target audience. It includes advertising, public relations, sales promotions, social media, and any other tactics to spread the word about your product or service. 🙃Channels: Advertising, Internet marketing, TV or Radio advertising, etc. Discuss and add your strategy to the board.

These questions will guide the discussion:

🤑🤑🤑 Discuss and add your strategy to the board. The "Price" element pertains to the cost of your product or service. It involves pricing strategies, discounts, and considerations related to affordability and value for money.

These questions will guide the discussion:

Discuss and add your strategy to the board. These questions will guide the discussion: Where are you going to offer the product? Do you have an online store? What type of store or product display better represents your product or solution? What distribution channels do you currently have? Is your distribution channel the same one as your competitors? Do you attend trade fairs, visit an online site, or use any type of salesforce?

Discuss and add your strategy to the board. 🤷‍♂‍👨‍🎨👩‍🎤🤵‍♂‍👩‍🌾 Your team members and customer service personnel are a crucial part of the customer experience. The "People" aspect emphasizes the importance of well-trained, customer-focused staff who can enhance your brand's reputation.

These questions will guide the discussion:

Target Audience:

Employees:

Discuss and add your strategy to the board. These questions will guide the discussion: How can you minimize costs and increase profits? How is your team managing the ideation process? What measures do you have in place to improve efficiency? How do you manage your project and keep your team motivated? Explore payment, distribution, ideation, sales, and other processes, and develop your strategy.

Physical evidence is all of the things that will help you become a well-known company, or help users to identify you. Think about things like comfort, usability, design, interface, etc. 🗣👥⏰⚡Sometimes referred to as "Presentation," this "P" is all about tangible aspects that contribute to your brand's image. It includes factors like packaging, branding, store layout, and overall physical presentation.

What elements will help you position your brand and target the right kind of customers or users?

This step is optional.

👉With this template, you can define your final strategy. You can even download it and hang it on your wall.

🤩🎯 Turning Objectives into Actionable Goals

An objective or goal is merely a dream without a strategy and an actionable plan behind it. To achieve success, a team must consciously make decisions to prioritize certain actions, discontinue ineffective efforts, and choose the activities most likely to yield results. This requires outlining a clear plan detailing what will be done, by whom, how, and when.

A great starting point is a focused discussion among the leadership team to align on objectives, overall strategy, and expectations. This guide will walk you through the basics. Let’s break it down step by step.

STEP 1.

Define the Objective🔥

1. Follow the SMART Framework

Start by clearly defining the objective using the SMART (Specific, Measurable, Achievable, Relevant, Time-bound) criteria.

2. Establish the Starting Point

Identify the current status of the objective. For example, if you’re measuring progress by increasing sales margins, document the current margin per sale.

3. Set Realistic and Aspirational Goals

Define a realistic target that you believe can be achieved within the given timeframe, such as one year or five years. Then, set an aspirational goal—one that feels challenging or even unattainable based on current circumstances. This will push the team to think strategically about how to change those circumstances.

1. Clarify the Objective

Ensure everyone understands the objective as thoroughly as you do. This avoids misinterpretation and creates alignment.

2. Define Its Importance

Explain why the objective is critical, why it must be prioritized now, and how it aligns with the broader vision.

3. Set a Timeline

Indicate when the objective should be achieved. For instance, is this a six-month target or a one-year goal?

4. Define Success Metrics

Align on how success will be measured. Choose key metrics that are specific, relevant, and meaningful for tracking progress.

5. Identify the Decision-Maker

Assign a key leader or decision-maker responsible for driving the objective forward.

1. Identify Key Blockers

Evaluate what is slowing progress or making the objective difficult to achieve. Identify:

• Previous actions that haven’t worked.

• Areas requiring more investment or additional resources.

• Conditions that need to change for success.

2. Strengthen Adaptability

Define actions to leverage strengths, improve adaptability, and overcome unfavorable conditions.

3. Focus on Four Key Areas

a. Strategy 🤯

Determine changes or improvements needed in areas like communication strategy, pricing, product development, branding, distribution, and any physical evidence supporting your promise and brand.

b. People🧑‍⚖‍🧑‍🎤🧑‍🚒🦸

Decide if additional team members are required, or if new partnerships and relationships should be built. Define how customer relationships will be managed, including customer service strategies.

c. Processes and Culture 💫

Outline the processes and cultural habits that will help achieve the objective effectively. Consider:

• New processes to implement.

• Training programs for skill development.

• Tools and technology to reduce errors and increase speed.

• Automation opportunities to enhance team cohesion and productivity.

d. Cash and Investment 📉📊

Define how financial resources will be allocated to support the objective. Establish the budget, the amount you are willing to invest, and the timeline for investment. This ensures the team understands the leadership’s commitment to achieving the goal.

Next: Foundation for Success

This conversation is a must-have. Without it, teams lack the clarity needed to understand what leadership is willing to do and how critical the objective is. These discussions lay the groundwork for subsequent conversations about strategy and action plans, creating a clear path to success.

Once you have this defined, you can define the 7P's of Marketing. By defining the marketing strategy, you gain a deeper understanding of the overall strategy as you break it down into specific elements such as product, communication, pricing, physical evidence, promotions, and more.