The strategy focuses on expanding into the cremation products market while maintaining a strong connection with existing coffin and casket offerings. The primary objective is not only to explore market trends and customer preferences but also to thoroughly conduct market analysis. This includes researching the current trends in Australia, identifying competitors, and understanding the regulatory landscape.
Another crucial component is differentiating product offerings. This involves developing unique features and sustainable product lines. The strategy highlights the importance of personalization and crafting a distinct brand narrative. Examples include exploring collaborations with artisans to create exclusive designs.
Furthermore, the plan emphasizes leveraging direct-to-consumer tools. Developing a strong online presence through e-commerce and engaging with customers via social media is essential. Utilising digital marketing strategies like SEO and content marketing improves customer outreach. Offering virtual consultations and customer support ensures a seamless online experience.
The strategies
⛳️ Strategy 1: Conduct market analysis
- Research current trends in cremation products and services in Australia
- Identify key competitors and their market positioning
- Analyse the current market size and forecast growth opportunities
- Understand customer preferences and emerging needs in cremation services
- Evaluate the regulatory landscape impacting the cremation industry
- Identify potential partners and suppliers for cremation products
- Assess the impact of environmental and cultural factors on cremation preferences
- Create a matrix of competitor strengths and weaknesses
- Analyse pricing strategies within the sector
- Profile ideal customer segments and buyer personas
⛳️ Strategy 2: Differentiate product offerings
- Develop unique product features that address unmet needs in the market
- Create a distinct brand narrative that resonates with target customers
- Offer personalised and customisable product options
- Develop sustainable and eco-friendly product lines
- Include a range of price points to appeal to diverse market segments
- Utilise high-quality materials to enhance product differentiation
- Focus on exceptional customer service and support
- Highlight innovation through product design and functionality
- Leverage marketing to communicate product differentiation
- Explore collaborations with artisans for exclusive product designs
⛳️ Strategy 3: Leverage direct-to-consumer tools
- Develop a strong online presence through a user-friendly e-commerce platform
- Utilise social media to engage with and build a community around the brand
- Implement digital marketing strategies such as SEO and pay-per-click advertising
- Use data analytics to understand customer behaviour and refine marketing strategies
- Create engaging content that educates and informs customers about offerings
- Offer virtual consultations to guide customers in their purchase decisions
- Introduce online customer reviews and testimonials to build trust
- Implement an email marketing campaign to nurture leads and retain customers
- Provide easily accessible online customer support
- Continuously optimise the online shopping experience based on customer feedback
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
