MARKETPLACE STRATEGIST: I-3 STRATEGY FOR BUSINESS GROWTH

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World allover in our sphere of influence is an advancement order, growth is becoming strategic and our default setting is pushing us beyond our frontier to expand. Inherent of us is this quest calling us yonder to advance, inability to thirst for this put us in a fix if truly we are still living human. This is so true as it rub off our everyday life especially businesswise, we all want our business to experience quantum leap which is not a function of happenstance but diligent work of maxim governing business. The ‘share coke with ???’ strategy recently introduced by Coca Cola Company to the market is a plus to this kind of paradigm shift that need shoot out one’s business to existing and new entry customer base. Perhaps I should share Marketplace Strategist with you @ www.marketplacestrategist.com?

Primary to the core of every business is problem solving, through this means a business add more value by rendering her services and solution in solving people’s needs. Value is the exchange rate for each problem you business solve. The soul of your business growth is dependent on the amount of problem you keep solving with your brand; not to solve people's problem with your business brand is the doorway to get an emphatic NO to business growth.

There is a postulation of mine I termed “I-3 strategy” with the acronym – invent, innovate and impact; which has been used to grow line of my profession and for others brands. In my study of corporate brands, I see this strategy play out as modus operandi for every leading brand globally. The likes of Coca Cola Company, Samsung, Apple Inc., Dangote Group, IBM, Multichoice (DSTV) and others do trade with this principle that has earned them massive success consistently over the time.

Invent. Anyone who has nothing to invent can’t assume he/she has a business or sphere of influence to govern. For business to exist there must be something of value to invent which is saleable in return for exchange. What is it that you have in mind to add as value to people’s lives? That’s the spot you need take bold step to invent, until you possess a value to be positively added in life before a product or services can be invented. Invention births ideas used to turn worthwhile stuff of lasting value into services, product created to solve the appetite of problems in human. Taking good instance, Coca Cola Company is the idea behind coke, fanta, sprite drinks which are all invented in varieties to solve people’s thirst.

Invent is more like building a brand from the scratch, creating something from start to finish. One way to invent is planning, yes you plan to invent. An enterprise is built by the tool of wise planning and becomes stronger through creativity, this yields more profit via worthwhile information that keeps her abreast in a competitive market. Notice, whatever you plan to invent will not be or is not the first to be invented in the market. When inventing you are following an order that has already existed only to see it in the light of your own reach.

Innovate. What do you do whenever the business ain't advancing the forward direction or is still booming with much recorded success? You simply INNOVATE! Yes, I mean to tell you create a new model from the existing one which still serve same purpose but with different layout. What retains your brand to be relevant in the market base is innovation. Via the tool of innovation, your business tend to discover what is not working well in the brand that needs revamped. Innovation is the tool for change that alters unproductive routines, ethics and tradition stocked in your mindset.

The ‘Share Coke with ???’ strategy recently adopted by the Coca Cola Company is a better tool of innovation for the Coke brand which has already been invented, with this strategy I bet you more sales have been made in the market of coke drink all because many feel sense of prestige drinking a bottle or can of coke with their name crested on it. Shocking to see is how many now visit shopping mall which ordinarily they wouldn't on a good day all because they are in the scavenge for their 'share coke with??'. No other way to put that paradigm shift idea than to say it is INNOVATE means to business growth. Whenever you innovate in your business, your brand's affiliates also shares in your trend of growth as they make more waves of patronage in their own business with the market of your products and services. Same strategy MultiChoice used in creating another brand – Gotv similar to DSTV, in targeting some certain class of populace who can’t afford the means of DSTV subscription; same goes to Dangote Group which has diverse brand such as Dangote Cement, Dangote Sugar et’al.

Innovation will make your market diversify to pay attention to the need of all class of people who should patronize your business. When you innovate, you create something new from what already existed to retain same customers base and secure avenue for getting new entry of customer base. It’s when you strive to grow that you have opportunity to innovate. Your business must be detailed enough to get the attention of prospective clients, this make them see the need for patronage.

Impact. Here all you do is to distribute, sell, share whatever you have invent and innovated. It is at this point your product or services influence the market. If its solution driven content then be sure that its influence will gain the heart of your brand’s prospective clients or customer. Customer is king to your business and as such your services as a business brand must be rendered on the premise of a conducive customer relation services so it could create a lasting impression in their heart. John Mason once wrote that “we make a first-class mistake if we treat others as second class people.”

– emmanuel ABIONA,
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