HERZBLUAT Management Consultancy, Marketing & Advertising Agency

Management consultancy
Marketing &
Advertising agency

Salzburg, Austria

HERZBLUAT Management Consultancy, Marketing & Advertising Agency

Management consultancy
Marketing &
Advertising agency

Salzburg, Austria

Redevelop business model and strategy

On 25 April 2023, Gregor Wimmer gave a lecture on the topic "What do I actually do? And how do I tell the world - Business Model - Story Telling - Strategic Business Management" at the "EPU Day" event of the Salzburg Chamber of Commerce.

The participants were one-person entrepreneurs (EPU) from all over the province; in total, more than 220 interested spectators were present.

In this blog post, we would like to summarise the contents of this lecture and give valuable tips on how one-person businesses can develop their business model, tell their story and operate successfully on the market.

In an ever-changing world, it is important for companies to adapt and stay innovative in order to be successful.

We explore how companies can adapt to change, develop strategies and use innovation to succeed in an ever-changing world.

Strategic corporate governance in transition:

Redeveloping Business Model and Strategy - How Innovation and Adaptation Ensure Success

An excursion into strategic corporate management

The changing needs and times

The changing world, also called the VUCA world (Volatility, Uncertainty, Complexity, Ambiguity), poses new challenges for companies.

Be it the transition from analogue to digital photography or the rapid changes in technology and society - companies have to adapt in order to remain competitive.

Charles Darwin's theory of evolution also applies to business: companies that adapt and remain innovative have the best chance of success.

Innovation and strategy development

One way to adapt to change is to bring innovations to the market.

The steam engine is an example of how innovations can change entire industries.

Another option is to develop, adapt or radically change the strategy.

The so-called "strategy loop" illustrates this process, which consists of seven steps: Analyse, Invent the Future, Decide, Paint a Picture of the Future, Transform the Organisation, Strategic Controlling and Implement.

This process can be repeated endlessly to improve, change or, in extreme cases, eliminate areas.

Strategy loop

Results of innovations and strategy adjustments

The results of innovations or strategy adjustments can be manifold.

For example, digitalisation can lead to companies working more efficiently and responding better to customer needs.

A change of business segment, such as in the case of a tyre manufacturer that changed its business model to "Product-as-a-Service", can lead to better liquidity and lower switching risks.

Companies also have to adapt to new competitors who come from other sectors or enter the market as start-ups with fresh ideas.

Business segment change

Red and blue oceans

Companies can see themselves as a "Red Ocean" or a "Blue Ocean".

While Red Ocean companies struggle in a saturated market with intense competition, Blue Ocean companies excel at entering new markets and creating new demand.

To be successful in a Blue Ocean, companies need to know their value proposition well and ensure that it is understood by their customers.

Red Ocean Blue Ocean

Value proposition - What am I selling?

To ensure that your customers know what you are selling, you need to communicate your value proposition clearly and concisely.

The value proposition describes the unique benefits and features of your product or service that set it apart from the competition.

Make sure you look at your offer from your customers' perspective to better understand how they perceive your product or service.

Value proposition

Target groups vs. personas

The difference between target groups and personas lies in the way you address your customers.

While a target group is a general group of people who might be interested in your product or service, personas are detailed and realistic representations of your ideal customers.

Using personas in your marketing strategy can help you better align with your customers' needs, wants and expectations.

Target group vs. personas

Business Model Canvas

The Business Model Canvas is a useful tool for visualising and reviewing your business strategy.

It consists of nine key elements that cover all aspects of your business model, including your customers, your value proposition, your marketing strategy and your revenue streams.

With the help of the Business Model Canvas, you can quickly identify which areas of your business are working well and which need to be improved.

Business Model Canvas

Sustainability and social responsibility

In today's business world, it is essential that companies adopt sustainable and socially responsible business practices.

Taking environmental, social and governance (ESG) aspects into account and complying with corporate social responsibility (CSR) can help your company succeed in the long term and have a positive impact on society.

Business Model Canvas Sustainability Sustainability

Customer Journey - the customer journey to you

The customer journey describes the path that a customer goes through before making a purchase decision.

By identifying and optimising the different touchpoints on the customer journey, you can ensure that your business effectively engages with potential customers and turns them into loyal customers.

Customer Journey

Storytelling - telling stories

Storytelling is a powerful technique for grabbing your customers' attention and creating an emotional connection to your product or service.

By telling stories that are tailored to your target group, you can make your marketing messages more interesting and memorable.

Story Telling Storyline

Tips and strategies

Customer service:
Provide excellent customer service to retain customers and encourage positive word of mouth. Respond to customer enquiries promptly and take customer feedback seriously.

Product and service innovation:
Continually develop new products and services to meet the changing needs and expectations of your customers. Be open to change and use technology to improve your offering.

Personalise your communications and offers to better meet the individual needs of your customers. Use customer data and analytics for targeted marketing campaigns and tailored offers.

Staff development:
Invest in the training and development of your employees to ensure that they have the necessary skills and knowledge to meet your customers' requirements.

Ensure that your company acts sustainably and takes responsibility for the environment and society. This can help you build a positive image and attract customers who value sustainability.

Partnerships and networks:
Build partnerships and networks to extend your reach, exploit synergies and benefit from the expertise of other companies.

Measurement and analysis:
Continuously monitor your performance and analyse the results to identify potential for improvement and take targeted action.

Steve Blank Catcontent

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Successfully marketing your business depends on many factors, including knowing your customers, developing a compelling value proposition and adapting your business strategy to the changing needs of the market.

By following these tips, you can ensure that your company communicates effectively, leaves a lasting impression and enjoys long-term success.

Remember to constantly review and adapt your marketing strategy to respond to new opportunities and challenges and to meet the needs of your customers.

Redeveloping your business model and strategy - are you ready to take your business to the next level?

Then don't hesitate and contact HERZBLUAT Unternehmensberatung, Marketing- & Werbeagentur in Salzburg.
We are experts in developing radical, innovative and sustainable strategies that lead your business to success.

As a "CAAA Certified Austrian Advertising Agency" certified by the Austrian Federal Economic Chamber and holder of the "ProEthik-Siegel" of the Austrian Advertising Council, you can be sure that HERZBLUAT meets the highest quality standards.

In addition, HERZBLUAT Green Event is a partner company of the province of Salzburg and the Climate Alliance Austria, which underlines the commitment to sustainability.

Don't wait any longer and take the first step towards sustainable business success.

Contact HERZBLUAT today via E-mail at office@herzbluat.at or by telephone +43 664 81 97 894 and learn more about customised solutions for your company.

Would you like to receive the entire presentation free of charge?
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Gregor Wimmer
Management consultant
Marketing specialist

+43 664 81 97 894

#BusinessModel #BusniessModelCanvas #Innovation #Marketing #Storytelling #Sustainability #Austria #Salzburg #Sstrategy development #Corporate consulting 1TP5Advertising

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