Optimizing growth opportunities through strategic business planning
Situation
A B2B supplier of printers wanted to explore untapped opportunities to increase market share. The company worked within a complicated go-to-market business model involving many players, including value-added resellers (VARs), software vendors, alliance partners, and system integrators. Due to this complexity, the company had many disparate growth initiatives underway, but none were making a big impact on sales.
Approach
Business strategy requires a 360-degree assessment, prioritization, and focus. Orchid Strategy Group was engaged to analyze and optimize current business approaches, and find growth potential for the client’s North American retail vertical marketplace by leveraging their global resources. We began with a marketplace assessment of the retail space, including a deep-dive into changing trends (especially mobile and omnichannel), and ways retailers were reacting to trends. We also analyzed our client’s current situation in the marketplace versus the competition, paying special attention to performance over time by the various players in the go-to-market model. With this information, and in collaboration with internal stakeholders from across the organization, we created a large list of potential growth opportunities. Next, we established decision criteria to quantify, prioritize, and weigh the various options.
Solution
With many potential opportunities at hand, the most important insight for this client was the need to focus, focus, focus. The solution leveraged data and analytics, optimized internal expertise, and accounted for the complexity of the business model. Based on this foundation of knowledge, Orchid Strategy Group identified ten major initiatives for growth. Via leadership alignment and financial prioritization, we narrowed the list to “The Big Three.”
Results
Our client confidently moved away from investing in smaller projects, and instead, began focusing resources on “The Big Three”. The detailed tactical roadmaps that Orchid Strategy Group provided served as the guide and foundation for their process moving forward.