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10 strategies and tactics for Cost Efficiency

What is Cost Efficiency strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Finding the right Cost Efficiency strategy can be daunting, especially when you're busy working on your day-to-day tasks. This is why we've curated a list of examples for your inspiration.

Copy these examples into your preferred tool, or utilize Tability to ensure you remain accountable.

How to write your own Cost Efficiency strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Cost Efficiency strategy examples

You will find in the next section many different Cost Efficiency tactics. We've included action items in our templates to make it as actionable as possible.

Strategies and tactics for achieving cost efficiency and savings from technology

  • ⛳️ Strategy 1: Conduct a comprehensive technology audit

    • Identify all current technology assets and resources
    • Evaluate the utilisation rates of current technologies
    • Assess the effectiveness and performance of existing systems
    • Identify redundant or obsolete systems that could be eliminated
    • Examine current technology costs and spending patterns
    • Highlight integration issues and inefficiencies
    • Gather feedback from staff about technology pain points
    • Identify potential areas for automation and modernization
    • Calculate potential cost savings from system consolidation
    • Develop a report summarising audit findings and opportunities

  • ⛳️ Strategy 2: Optimise technology utilisation

    • Develop a training program to enhance employee technology skills
    • Promote a cloud-first strategy to reduce on-site infrastructure
    • Implement remote work tools to minimise costs
    • Adopt software solutions with flexible licensing options
    • Regularly review and update technology usage policies
    • Utilise data analytics to drive business efficiencies
    • Encourage the use of open-source software when applicable
    • Monitor software adoption rates and user feedback
    • Implement energy-efficient technologies and practices
    • Schedule routine technology optimisation reviews

  • ⛳️ Strategy 3: Negotiate contracts and leverage strategic partnerships

    • Review all existing contracts with technology vendors
    • Identify high-cost contracts and negotiate better rates
    • Seek volume purchasing agreements for software/licenses
    • Invest in strong vendor relationship management
    • Consider forming alliances with other organisations for bulk purchasing
    • Attend industry trade shows and conferences for networking
    • Evaluate benefits of collaborative technology projects
    • Regularly review market rates for technology services
    • Incorporate performance-based clauses in technology contracts
    • Establish a procurement process for continuous cost checking
cost-efficiencytechnology-savingsit-managerprocurement-specialisttechnology-audit-teamvendor-management-team
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Strategies and tactics for executing Operational Excellence for Device Financing

  • ⛳️ Strategy 1: Align operations with business objectives

    • Translate Paywise’s regional strategy into actionable operational plans tailored for Rwanda’s market
    • Lead execution of the Rwanda rollout plan with emphasis on aligning processes with growth targets
    • Support pricing and product teams in defining financing models that reflect local income and repayment behavior
    • Develop short- and medium-term operational roadmaps, including budgets and key milestones
    • Represent operations in leadership meetings, providing performance insights and recommendations
    • Ensure compliance of operational strategies with Rwandan legal and financial regulations
    • Regularly review and adjust operational plans to align with evolving market conditions and company goals
    • Engage stakeholders in strategic discussions to ensure alignment across departments
    • Establish performance metrics aligned with business objectives for continuous monitoring
    • Foster a culture of strategic thinking and adaptability across the operations team

  • ⛳️ Strategy 2: Optimise processes for efficiency

    • Develop and implement standard operating procedures (SOPs) for all key operational processes
    • Oversee system integrations to ensure smooth data flow and accurate reporting
    • Collaborate with risk teams to refine frameworks for credit scoring and fraud prevention
    • Monitor daily operations to ensure targets for activations, repayments, and collections are met
    • Implement process automation to enhance oversight and reduce information leakages
    • Track key operational KPIs to identify areas for improvement
    • Conduct regular audits to identify process bottlenecks and initiate improvement actions
    • Utilise feedback loops from field operations to enhance process effectiveness
    • Develop a system for continuous process review and adaptation
    • Invest in training and development programs to ensure staff are adept at new processes

  • ⛳️ Strategy 3: Enhance customer and merchant experience

    • Ensure clear communication and timely support for customers and merchants
    • Strengthen collection systems with data-driven reminders and incentives
    • Monitor default levels and manage recovery metrics effectively
    • Coordinate with customer care to resolve issues promptly and maintain high satisfaction
    • Work with tech teams to improve CRM tools for better customer monitoring
    • Regularly review repayment trends to identify opportunities for customer retention
    • Introduce strategies that encourage repeat purchases from satisfied customers
    • Establish a feedback mechanism to capture customer and merchant insights
    • Develop a comprehensive training program for staff on customer service excellence
    • Create a customer-centric culture within the team to prioritise client needs
operational-excellencedevice-financingoperations-managerproduct-managerpricing-and-product-teamcustomer-care-team
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Strategies and tactics for implementing cost-effective transportation

  • ⛳️ Strategy 1: Optimise route planning

    • Use GPS technology to determine the most efficient routes
    • Analyse traffic patterns to avoid congested areas
    • Combine deliveries to nearby locations in a single trip
    • Regularly review and update routes based on traffic changes
    • Train drivers on route optimisation techniques
    • Implement a system for dynamic rerouting based on real-time traffic data
    • Use software applications to plan fuel-efficient routes
    • Introduce incentive programs for drivers who use optimal routes
    • Utilise historical data to predict and plan for potential delays
    • Coordinate departure times to minimise time spent in traffic

  • ⛳️ Strategy 2: Leverage public transportation and shared services

    • Identify routes where public transportation can be used
    • Encourage carpooling among employees
    • Partner with ride-sharing services for discounted travel
    • Promote the use of cycling for short-distance travel
    • Evaluate telecommuting options to reduce travel needs
    • Negotiate bulk rates with local taxi services
    • Use shuttle buses for frequent routes
    • Implement flexible working hours to avoid peak travel times
    • Provide incentives for employees using public transport
    • Regularly review cost savings from shared transportation initiatives

  • ⛳️ Strategy 3: Maintain and invest in efficient vehicles

    • Schedule regular maintenance checks to ensure vehicle efficiency
    • Invest in fuel-efficient vehicles for fleet replacement
    • Use telematics to monitor vehicle performance and address issues
    • Train drivers in eco-driving techniques
    • Keep tyres properly inflated to improve fuel economy
    • Regularly review and negotiate fuel contracts for better rates
    • Limit vehicle idling to save fuel
    • Implement a checklist for drivers to ensure vehicles are in top condition
    • Analyse fuel consumption data to identify areas for improvement
    • Explore alternative fuels or hybrid vehicles for cost savings
efficiencycost-savingtransportation-managerlogistics-coordinatorfleet-management-teamroute-optimization-team
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Strategies and tactics for analysing Infosys Resource & Capability Matrix

  • ⛳️ Strategy 1: Leverage key strengths to diversify market dependency

    • Enhance marketing efforts in non-US regions leveraging global talent pool
    • Develop strategic partnerships to penetrate new markets using existing client relationships
    • Expand digital capabilities to cater to localised needs in emerging markets
    • Utilise brand reputation to enter European and APAC markets
    • Conduct innovation workshops to tailor services for diverse markets
    • Promote thought leadership through global webinars and conferences
    • Utilise innovation capabilities to create market-specific solutions
    • Drive collaborative projects with local governments and agencies
    • Establish regional offices to boost market presence
    • Invest in local talent acquisition to enhance cultural alignment

  • ⛳️ Strategy 2: Reduce dependency on high attrition talent

    • Enhance employee engagement programmes to reduce attrition rates
    • Provide competitive compensation and benefits packages
    • Implement regular performance and satisfaction surveys
    • Foster a culture of innovation and growth to retain talent
    • Enhance leadership training at Infosys Leadership Institute
    • Offer career advancement opportunities and reskilling initiatives
    • Introduce flexible work arrangements to improve work-life balance
    • Establish mentorship and buddy systems for new hires
    • Recognise and reward high-performing employees
    • Implement a feedback loop to address employee concerns proactively

  • ⛳️ Strategy 3: Optimise R&D and consulting capabilities

    • Increase investment in R&D to elevate innovation potential
    • Develop a knowledge sharing hub for best practices in consulting
    • Train consulting teams to improve client interaction and problem resolution
    • Integrate AI tools to enhance consulting service delivery
    • Host innovation sprints to generate new consulting solutions
    • Collaborate with leading research institutions for knowledge advancements
    • Leverage global consulting teams to address regional needs
    • Create centres of excellence focussing on consulting and R&D
    • Conduct industry benchmarking to align consulting services with global standards
    • Offer consultancy certification programmes to upskill employees
diversificationtalent-retentionmarketing-strategisthr-managerr&d-teamconsulting-team
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Strategies and tactics for expanding a student impact project

  • ⛳️ Strategy 1: Assess current financial efficiency

    • Conduct a detailed analysis of current expenditure to identify high-cost areas
    • Calculate the cost per student currently and set a target cost reduction per student for scalability
    • Analyse the effectiveness of current resources and their allocation towards outcomes
    • Review the operation processes for potential cost-saving opportunities
    • Benchmark the costs against similar scalable projects to identify areas of improvement
    • Engage financial experts to evaluate cost structures and suggest efficiency improvements
    • Review supplier contracts and negotiate better terms where possible
    • Implement a cost tracking system to monitor expenditures and efficiencies
    • Evaluate the feasibility of investing in technology to automate manual processes
    • Prepare a report summarising findings and recommended strategies for cost improvements

  • ⛳️ Strategy 2: Create a scalable budgeting model

    • Develop a scaling plan that outlines the phase-wise student outreach
    • Estimate the incremental cost that will arise from increased outreach
    • Incorporate variable and fixed costs and establish a flexible budget model
    • Set benchmarks for cost-effectiveness per milestone of growth
    • Identify potential collaborations or partnerships to share resources and costs
    • Incorporate feedback loops in the budgeting process to adapt to changing conditions
    • Align resource allocation with strategic priorities for maximum impact
    • Leverage digital tools to provide cost and performance analytics in real-time
    • Design alternative scenarios in budgeting to handle uncertainties
    • Prepare contingency plans for cost overrun scenarios

  • ⛳️ Strategy 3: Optimise resource utilisation

    • Conduct an audit of current resource use and its impact on student reach
    • Redefine roles and responsibilities to maximise the efficiency of resource use
    • Assess training programs to enhance the productivity of existing resources
    • Develop a strategy to scale the team commensurately with the increased student numbers
    • Encourage cross-functional teamwork to facilitate a more versatile resource pool
    • Implement a performance management system to track resource outputs against targets
    • Analyse the current locations and regions covered to optimise logistics and travel costs
    • Evaluate the possibility of remote work or hybrid models to reduce location-based costs
    • Invest in technology for collaborative tools to enhance team efficiency
    • Create a benefits structure to retain high-performing resources during growth phases
cost-efficiencyscalabilityfinancial-analystproject-managerfinance-teamoperations-team
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Strategies and tactics for improving digital performance for Ajar | Enterprise car rentals

  • ⛳️ Strategy 1: Optimise channel performance

    • Calculate CPI, CPA, ROAS, and install-to-booking conversion rates for each channel
    • Identify and pause underperforming channels with high CPA and low conversion
    • Increase budget allocation to channels with high-intent users, like Apple Search Ads
    • Improve Snapchat's conversion rate by refining target audience and creatives
    • Utilise Google Search for high-intent ‘brand + non-brand’ queries
    • Refine existing remarketing strategies by using an improved funnel architecture
    • Develop specific creatives for each channel focusing on conversion intent
    • Use A/B testing for ad creatives to increase engagement and conversion
    • Utilise lookalike audiences in Meta and TikTok to capture similar high-converting users
    • Engage in constant review and feedback loops with the analytics team to optimise ongoing campaigns

  • ⛳️ Strategy 2: Implement a result-driven 45-day media plan

    • Allocate 40% budget to high-performing channels (Apple Search, Google) focusing on lower funnel
    • Divide 30% budget across Meta, TikTok, and programmatic for awareness and engagement
    • Allot 20% budget for mid-funnel engagement through curated Snapchat and X content
    • Dedicate 10% for LinkedIn targeting professional audiences for corporate rentals
    • Set weekly pacing and adjust budgets based on weekly performance reviews
    • Establish CPA targets across platforms, ensuring no channel exceeds 210 SAR
    • Use ROAS as a secondary KPI to evaluate booking value quality
    • Deploy broad targeting first 15 days, narrow post-15 days according to performance
    • Incorporate lookalike audience strategies from day 20 based on initial findings
    • Promote warm/hot audidence retargeting in the final 10 days to capture undecided users

  • ⛳️ Strategy 3: Enhance tracking and performance measurement

    • Define key conversion events such as install, sign_up, add_payment, booking_confirmed
    • Implement iOS SKAdNetwork and Android attribution models to track performance accurately
    • Use UTMs for all campaign links to ensure granular tracking capabilities
    • Set up deep links to direct users to specific app screens post-install
    • Create a reporting cadence with weekly performance reports to the team
    • Regularly validate data discrepancies by cross-referencing with internal metrics
    • Align campaign naming conventions for easy cross-channel insights
    • Execute quality assurance to verify all tracking is functional before campaign launch
    • Utilise data visualisation dashboards for real-time performance tracking
    • Conduct daily optimisations for quick tactical adjustments and weekly strategic assessments
digital-marketingconversion-ratesdigital-strategistperformance-marketeranalytics-teammarketing-team
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Strategies and tactics for reaching out to all customers timely and safely while delivering cost effectively and efficiently

  • ⛳️ Strategy 1: Implement a robust communication plan

    • Analyse customer communication preferences
    • Develop a comprehensive communication schedule
    • Utilise automated messaging systems to reduce human error
    • Regularly update customers on delivery status
    • Train staff on effective and clear communication techniques
    • Establish a feedback loop to assess communication effectiveness
    • Use data analytics to predict and address customer needs
    • Ensure communication platforms are secure and reliable
    • Leverage social media for real-time customer updates
    • Conduct regular audits to align communication strategies with customer expectations

  • ⛳️ Strategy 2: Optimise the delivery process

    • Assess and select cost-effective delivery partners
    • Implement route optimisation software
    • Monitor delivery times and adjust plans accordingly
    • Incorporate a tracking system for real-time delivery updates
    • Negotiate favourable terms with delivery providers
    • Streamline packaging processes to reduce waste and cost
    • Introduce incentive programs for timely deliveries
    • Evaluate delivery performance periodically
    • Foster collaborations for shared delivery resources
    • Utilise drones or other technologies for difficult-to-reach areas

  • ⛳️ Strategy 3: Enhance safety measures

    • Regularly train staff on health and safety protocols
    • Use contactless delivery methods where possible
    • Implement a robust verification system for deliveries
    • Ensure all staff have appropriate personal protective equipment
    • Conduct safety audits on delivery vehicles
    • Establish protocols for immediate resolution of safety issues
    • Keep informed of local regulations and compliance matters
    • Put in place a clear communication plan for safety concerns
    • Regularly review and update safety protocols
    • Provide customers with assurances about safety measures
communicationefficiencycommunication-specialistlogistics-managercustomer-service-teamdelivery-operations-team
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Strategies and tactics for developing Strategic Mapping Using Diagram

  • ⛳️ Strategy 1: Compile Strategic Initiatives

    • Gather key strategic initiatives from organisational departments
    • Organise initiatives into relevant perspectives: financial, customer, internal process, and learning and growth
    • Engage stakeholders to validate and prioritise the initiatives
    • Define clear objectives associated with each strategic initiative
    • Align each initiative to the overall organisational vision
    • Identify interdependencies between different initiatives
    • Establish key performance indicators for each strategic initiative
    • Review existing strategic maps for inspiration and improvement ideas
    • Engage a diagram software specialist to assist in visual representation
    • Seek feedback from stakeholders on drafted initiative compilation

  • ⛳️ Strategy 2: Design Strategic Mapping Diagram

    • Select a diagram tool that allows for easy sharing and editing
    • Create separate layers for each strategic perspective in the map
    • Use standard shapes and colour codes to represent different elements
    • Input strategic initiatives and their key action points into the diagram
    • Connect related initiatives with lines to show relationships and dependencies
    • Incorporate arrows to indicate the flow of activities and their direction
    • Annotate the diagram to provide clarity and context for each element
    • Ensure the diagram aligns with the organisational objectives and vision
    • Make provision for regular updates and version control of the diagram
    • Seek feedback from a cross-section of employees to refine the map design

  • ⛳️ Strategy 3: Implement and Communicate the Strategic Map

    • Introduce the strategic map to all employees through a formal presentation
    • Share the diagram on a collaborative platform for continuous access
    • Instruct managers to align team goals with the strategic map
    • Develop an FAQ guide to address common questions regarding the map
    • Schedule regular review sessions for updates and improvements
    • Encourage departments to integrate the map into planning activities
    • Use the map to track progress and report on strategic initiative outcomes
    • Conduct workshops to train staff on how to utilise the strategic map
    • Implement a feedback loop for ongoing improvement of the map
    • Celebrate milestones achieved as outlined in the map with staff recognition
strategic-mappingdiagram-visualizationdiagram-specialiststakeholderorganizational-planningstrategic-development
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Strategies and tactics for increasing revenue and reducing costs for eCommerce services

  • ⛳️ Strategy 1: Optimise marketing campaigns

    • Analyse current marketing ROI and adjust budget allocation
    • Implement A/B testing on advertisements and landing pages
    • Utilise retargeting campaigns to recapture abandoned carts
    • Collaborate with influencers for cost-effective promotions
    • Develop email marketing campaigns for existing customers
    • Optimise SEO and content marketing strategies
    • Leverage social media platforms to increase brand engagement
    • Set up affiliate marketing programmes
    • Invest in video marketing to drive engagement
    • Track and analyse marketing campaign performance regularly

  • ⛳️ Strategy 2: Improve operational efficiency

    • Automate repetitive tasks using software tools
    • Negotiate better rates with suppliers and shipping carriers
    • Consolidate shipments to reduce shipping costs
    • Implement inventory management solutions to reduce stock holding costs
    • Outsource non-core operations to save on labour costs
    • Streamline order fulfilment processes
    • Invest in employee training to improve productivity
    • Adopt energy-efficient practices to lower utility costs
    • Regularly audit expenses and eliminate unnecessary costs
    • Utilise data analytics to identify and resolve inefficiencies

  • ⛳️ Strategy 3: Enhance customer experience

    • Provide excellent customer service through multiple channels
    • Implement a loyalty and rewards programme
    • Offer personalised product recommendations
    • Simplify the checkout process to reduce cart abandonment
    • Optimise website speed and mobile responsiveness
    • Introduce flexible return and refund policies
    • Collect and act upon customer feedback
    • Enhance product descriptions and high-quality images
    • Regularly update the FAQ section to address common queries
    • Utilise live chat support for real-time assistance
marketing-optimizationoperational-efficiencymarketing-analystoperations-managermarketing-teamcustomer-service-team
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Strategies and tactics for cutting costs and increasing efficiency in sales & marketing

  • ⛳️ Strategy 1: Conduct a thorough audit

    • Review current sales and marketing budgets to identify areas of overspending
    • Analyse expenditure reports for discrepancies and unnecessary costs
    • Evaluate the return on investment for each marketing campaign
    • Assess the effectiveness of each sales channel
    • Identify duplicated resources across sales and marketing teams
    • Consult with team heads to gather insights on resource utilisation
    • Perform a cost-benefit analysis on current software and tools
    • Review contracts with external vendors for cost-saving opportunities
    • Identify underperforming marketing strategies
    • Create a report with audit findings and suggested cuts

  • ⛳️ Strategy 2: Optimise resource allocation

    • Align sales and marketing goals with overall business objectives
    • Prioritise high-impact and low-cost marketing channels
    • Implement cross-training programs to maximise team flexibility
    • Adopt cloud-based solutions to reduce overhead costs
    • Implement performance-based incentives for the sales team
    • Standardise processes to improve efficiency
    • Centralise data systems for better information flow
    • Leverage data analytics for more targeted marketing
    • Reduce print advertising and focus on digital marketing
    • Implement feedback mechanisms to refine processes regularly

  • ⛳️ Strategy 3: Leverage technology for efficiency

    • Invest in an advanced CRM system to improve client management
    • Adopt marketing automation tools to streamline campaigns
    • Implement AI-driven analytics for deeper insights into customer behaviour
    • Use cloud-based collaboration tools to improve team communication
    • Introduce virtual sales presentations to reduce travel costs
    • Utilise chatbots to handle customer inquiries efficiently
    • Schedule regular digital skills training for the team
    • Use project management software to track workload and deliverables
    • Integrate social media management tools to enhance online presence
    • Monitor the effectiveness of new technologies and optimise usage
cost-efficiencyresource-allocationsales-managermarketing-directorsales-teammarketing-team
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How to track your Cost Efficiency strategies and tactics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

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