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Have you got an F1 race strategy?

As a Formula One racing fan, I am usually glued to all television coverage over a normal race weekend, which includes practice, qualifying and race day. During these sessions it is easy to observe the ongoing need for a team to have a focused but flexible approach to their race set up strategies. Often a particular change in strategy can mean the difference between winning and losing a race.

What has winning a race got to do with anything in the world of business?

We are all involved in some kind of race, whether it is a race to make our businesses more profitable, a race against our main competitors, a race to communicate brand awareness and product portfolio. The list goes on, but you get the point.

Even F1 Teams themselves are in business and the closer they get to winning the race, the more lucrative it is for them.

The same can be said for the business community, it’s better to have a strategy than not, but more importantly you need the right strategy to have the best chance of succeeding in the “business race”, and you need to be prepared to review it on a regular basis. Why? Because that’s what your competitors will be doing.

Try using new web technologies, such as social media, content management and CRM systems, in conjunction with your website, you need to take a step back from your normal activities and try to look at things from your customer’s point of view.

Gone are the days when you can simply put up a website and leave it!

You may already have some or all of these systems in place, but are you getting the full streamlined benefits that they can provide if used with the correct strategy moving forward.

When was the last time you reviewed your online strategy?

The saying goes…

“If you always do what you’ve always done, you’ll always get what you always got, and you’ll always feel what you always felt “

When working on your online strategy, apply basic principles such as “know your customer”. Once you understand your customers’ needs with regards to communication and customer service, you can decide on the best strategy to not only retain existing customers but gain new ones.

Take for example an email newsletter that you may have sent to existing customers, don’t just think of instant effects, yes it’s great if an hour after sending you get an enquiry, but remember often people will keep your email as a reminder for when they may need to use your services in the future. This has improved your brand awareness and will provide future payback.

So if you haven’t got an online strategy plan one, if you have review it regularly , as Mr. Google says in his latest TV advert…

“The web is what you make of it”.