Category: Featured-Post-ConsultingAudit

Categories
Digital Consultancy & Business (EN) Featured-Post-ConsultingAudit Non classé

Different Types of Frameworks for Consulting

Appear in Google SERP when searched for Frameworks for Consulting

Different Types of Frameworks for Consulting

  • Tags Consulting Frameworks

Importance of Consulting Frameworks

Consulting frameworks are important for managing different aspects of the company, in order to determine which factors affect the business functions and how. Understanding them will help you to find better ways of growing and developing your company.

There are several important frameworks that can help you to develop your business. You’ll find more successful ways of getting desired results and achieving your business goals.

PEST Analysis

PEST Analysis is used to evaluate any major external factors that may influence business operations and is focused on finding a way that will make the company more competitive. With PEST analysis you can get to know more about tax regulations, and how the government deals with legal factors that are important for your business. Also, it can help you to determine more important aspects of trading and the market where you are operating.

You can do economic analysis as well with this framework to understand more about financial issues and interest rates. You’ll have to understand more about your target audience as well, their behaviors and characteristics, and their purchasing needs.

Porter’s Five Forces

It’s another consulting framework that will help you determine if any specific market is attractive, also you can understand more about your strengths and how you can deal with your competitors.

This framework will help you monitor competitive dynamics and will let you know if any new or old company can progress more than you. You can analyze the number of suppliers, and buyer power and determine if there’s a threat of some other company replacing you on the market.

The 3 C’s

This consulting framework is used to create business models, that will help companies in discovering key factors for success and improvement. In this case, 3 C is related to the corporation, competition, and customers.

First of all, companies analyze their previous data to have a better understanding of their work and based on their conclusions, start working on future strategies. After that, they try to compare themselves to their competitors and find connections, like what are the strong points and weak points, and how they can sort them out.

The last part is related to the target audience and customers, for example, what are their habits, needs, and what kind of marketing strategy would you need with them.

{CTA_BANNER_BLOG_POST}

SWOT Matrix

It will help you to create a plan that will be useful for completing a project and will let you know how competitive your product can be in the market. First of all, you can understand what are the areas that can help the organization succeed and generally what are your strengths, it could be unique technologies that you are using, any software, or a strong branding strategy.

Also, you’ll understand where you lack strength and which factors need to be improved. This framework outlines external factors, like opportunities that can help your company improve and any potential threat that might have a negative impact on you.

BCG Growth-Share Matrix

This framework was created to help companies see the potential of different products. With the aid of the BCG Growth-Share Matrix, it will be easy to determine which products you should keep, sell or invest more of your resources in.

It has four main areas, which will help you to see what are products with low market share and low rates of growth, and what are the products with high market share but low rates of growth. Also, which products have a high market share and high rates of growth, and which product has a low market share and high rate of development?

Balanced Scorecard

It’s a great framework for monitoring the future consequences of each action that a company might need for success. It will help you to collect more financial data, and to have a better understanding of income and sales. Also, you’ll know how well companies manufacture their products.

After that, companies gather feedback to understand how their target audience would rate their products and what are their satisfaction levels. This framework is concentrated on learning as well and evaluates how well your team members use their knowledge to further improve the company.

McKinsey 7S

Besides finding and fixing internal and external issues, you can use this framework to fully measure the effectiveness of your organizational design. Key elements of this consulting framework are related to structures, like how companies organize everything, also which strategies are used or should be used by companies to achieve success.

This framework pays attention to how companies make decisions, generally how they work, what missions and objectives are they trying to accomplish and how different aspects regarding staff could be sorted out. So McKinsey 7S are structures, strategy, skills, systems, shared values, style, and staff.

The 4Ps

It helps companies to reach their marketing objectives and target market. The 4Ps are related to the product, price, promotion, and placement. You’ll be able to determine if your products are suitable for existing demands and how they could satisfy new demands as well.

It’s important to know how much customers are paying to get access to your products, but you have to consider seasonal discounts and competitors as well. Promotions will let the customers know why they should purchase your product and placement will be decided based on the method of delivering your products to the market.

External VS Internal

In this case, you can evaluate how external or internal factors are influencing your organization and how can you improve or get rid of them. External factors could be related to governments, industry standards, etc.

While internal factors always exist within the company and are related to resources, management, etc. You’ll be able to see what kind of factors influence your business and how you can sort out everything.

Blue Ocean Strategy

Blue Ocean Strategy is related to a product that has minimal or no competition on market. In this case, you can identify markets where you won’t have big competitors and start dominating them with full force. The key word here is differentiation.

In the beginning, it’s not easy to manage everything with this framework, but at the very center of the blue ocean strategy, you’ll find new ideas and constant change. Blue ocean could turn red anytime, but in the beginning, you’ll have time to devise a new product and take your place in the market.

What We Offer

For more similar articles, make sure to scroll through our Publications on Edana. Your Swiss Digital Agency is ready to provide you with Expert-Level assistance built on customer loyalty, progressive ideas, and dedication. Our expertise includes Business Models and Planning, and many more.

Categories
Featured-Post-ConsultingAudit General Web Agency

How To Use Artificial Intelligence In Your Digital Communications?

Appear in Google SERP when searched AI Communications

How To Use Artificial Intelligence In Your Digital Communications?

AI In Modern Marketing

When we speak of Artificial Intelligence and communications strategies, the first thing that might pop-up in your head can be a chat-bot. quite logically, because we as customers have the closest and visible touch to AI through this specific communication. Yet, it’s not quite that. The funny part is, that communications do not start in chats.

Your communication with AI starts from the moment your data and behavior as a customer is starting to get analyzed. Pretty much AI automates your research strategies and later develops it into communication strategy which can be even suggesting a product of interest automatically-through algorithmic calculations.

Benefits Of AI Marketing

  • Data Analysis Efficiency
  • Data Grouping
  • Pattern and Trend Recognition
  • Real-Time Monitor Change
  • Swift Reactiveness
  • Cost-Effective
  • Saves Time For Creative Projects
  • Increased Customer Trust
  • Customer Journey Intelligent Tracking
  • Data Safety

AI and Marketing Process-Upgraded

AI-such as bots for example, can be used strategically in the marketing process if correctly programmed by your IT staff; for example- situation analysis, marketing strategy, marketing decisions regarding the choice of the most productive one and in implementation/control. The situation analysis serves the customers’ desires to be fulfilled yet.

{CTA_BANNER_BLOG_POST}

The Key Performance Indicator provides information about the strengths and weaknesses of the company’s marketing strategies-digital or non-digital. Bots can also look for the specific keywords to learn more about the base of your customers and competitors as well. Customer behavior can be researched and re-evaluated with all the possibilities bots are giving us.

Bots Are Taking Over

Using chat bots in customer service has become very casual, they can observe and analyze the types of conversations to obtain more data about the customers’ interests and background check on the market alongside. Bots can also organize interviews with certain customers to perform quality analysis.

This is great for saving both-money and time, as the interviews can be conducted in different locations at the same time and simultaneously get analyzed and later grouped for one specific purpose.

 AI can also make predictions about the influences of marketing activities and can be used to research what will be in demand for the further future. This will surely aid with either creating a new marketing strategy for your upcoming product, or evolving the current one that doesn’t seem to be working all too well.  

Don’t Get Over-Dependent On AI

Well, as far as we’ve discussed-AI bots can precisely do most of the analytical tasks and take less time, but don’t become too dependent on the services of the bots. AI is the key to quick communications and effective-sure. But, keep in mind, that AI still cannot provide you with the same creative juices as your human team can. It’s funny how we can sometimes get lost in technology.

The point is, communications which are on more subconscious level with your customers and tend to hit on a more emotional soft-spot simply cannot be well generated by the AI. Keep track of your communications to stay human, because if you over-robotize every part of your digital communications you will sense the customers slowly losing interest in even complaining when they don’t like something. Stay in touch with the emotional aspect.

Invest More and Get More Profits

One of the greatest examples of the companies that invested in their IT department is Amazon. Kind of not surprising. Amazon pretty much never fails to keep up with the digital trends. In the latest couple of years’ Amazon has invested over 5% of sales revenue in the AI service development. This investment helped greatly with automated services and increased sales by more than 30% and collected 90% more positive reviews on customer support.

What We Offer

For more similar articles make sure to scroll through our Publications on Edana. And, don’t forget to check our services for Expert-Level assistance from your Swiss Digital Agency. Our expertise includes Growth Hacking Strategies and many more. Feel free to contact us anytime!

Categories
Branding Featured-Post-ConsultingAudit

Why Use Digital Audit For Functional Re-Branding?

Why Use Digital Audit For Functional Re-Branding?

Re-Construct Your Website Wisely

During the times of re-branding, especially when it comes to larger enterprises, professional assistance is a must. In this case Digital Audit is a necessary element. A digital audit is an assessment of all active media channels and to evaluate how effective they are in the current campaign. Audits are useful to conduct in advance of the planning stage of your strategy to build a foundation on historical performance and to understand the available channels to include in your plan. A digital audit includes a complete report on your website – how it’s doing, what the rank is, what users like, and how much ROI it’s generating. It’s important to do a complete website audit during the marketing audit to ensure everything about your website is on point.

Why use the Audit and what is ROI

A digital audit is crucial for online business success. It is what you need to evaluate, assess, and determine the power of your implemented digital marketing strategy to achieve targeted results and ROIs. Now, the ROI is Return on investment, or ROI, is a mathematical formula that investors can use to evaluate their investments and judge how well a particular investment has performed compared to others. An ROI calculation is sometimes used with other approaches to develop a business case for a given proposal. ROI formula is basically subtracting the initial value of the investment from the final value of the investment (which equals the net return), then dividing this new number (the net return) by the cost of the investment, and, finally, multiplying it by 100.

Use Digital Audit for higher Profits

So far, previous two paragraphs were a general introduction to the Digital Audit and the ROI formula. Now, let’s speak about it’s necessity for the Re-Branding procedure. Generally, Re-Branding itself happens either, when a brand simply wants to re-evaluate their persona and offer the target audience something new, or in the worst case scenario it’s because the previous digital or non-digital marketing strategies stopped serving the well-being of a brand and now it needs the transformation to enter the marketplace with improved strategies, communications etc.  There are certain fields of business, where sometimes the Audit is only seen as the pain, but in the case of Digital Audit, it can rather be a blessing.

{CTA_BANNER_BLOG_POST}

We like to say, that the main focus of all sorts of B2C or B2B communication is based on human connection and trust, but of course completely discrediting the actual costs of professional assistance would be just as much of a mistake. Statistics matter, whether we like it or not and especially in digital code-based world which is empowered by genuine human curiosity.

Creative and Practical Solutions

A Digital Audit offers solutions, just as the Creative team does. So, in case of re-branding these two are likely to cooperate as well. A creative team offers solutions based on human communications, what might interest them and what swipes their attention, building the brand persona as interesting as possible for the target audience and the digital audit calculates more mathematical result or expected results based on those strategies and pretty much converting them into the ROI metric. Remember when in school years-teachers would explain the specifics of brain’s two halves? They used to say, that left side is more mathematically/logically functioning and the right side is more visual oriented and took up more images than words. So if someone-an individual was more into arts programs was believed to have a higher functioning right side of the brain and if there would be another individual who, for example preferred playing chess, was believed to have a higher functioning logical side of the brain.

Now, in that case we are speaking of people, but imagine that your brand has a brain, but it has to have an equally high functioning logical and creative aspects to gain more profits from the outside world that it’s navigating in-in this case the outside world is a marketplace.

What We Offer

For more interesting articles make sure to scroll through our publications on Edana and don’t forget to roam through our services, which include the Digital Audit. Feel free to contact us anytime!