How Strategy Consulting Can Help Your Business?
Globally demand for strategy consulting services is growing. As per market projections, strategy consulting will reach $ 111.4 billion by 2031, with a CAGR of 11.6% from 2022 to 2031.
Strategy consulting services play a vital role in steering the business in the right direction, solve immediate problems & create a strategic roadmap to grow, adopt the right technologies and transform business to achieve the next level of success.
Since consultants aren’t deeply involved in corporate operations like owners, they can better recognise and address difficulties like deploying new technologies or identifying untapped growth markets. In addition, since strategic consultants bring a holistic approach to the business, they can offer multiple benefits, including:
Offering a Fresh Perspective
Strategic consulting offers an unbiased analysis of your company based on years of experience and expertise. Specialised knowledge in the field gives strategists the edge to help businesses thrive, maintain their core values, and earn competitive power in the market.
Growth and development seemed challenging for a B2B IT products and services company due to a lack of new revenue and experienced resources. The company was operating in a crowded market where everyone had similar offerings, and hence prospects relied on price to select the vendor partner. InUnison partnered with the company to relook at the current business strategy with a fresh perspective.
We helped them create a niche and a strong differentiator to accelerate their sales by 3X within a year. Read the complete success story here.
Identifies New Growth Opportunities
Strategic consulting can help businesses identify new growth opportunities by conducting thorough market research and analysis. Consultants can help enterprises identify potential growth areas, such as new product lines, untapped markets, or emerging technologies.
They can also provide insights into consumer behaviour, industry trends, and competitive landscapes to help businesses make informed decisions about their growth strategies and capitalize on them.
Supports the Development of a Growth Mindset
Consultants can help businesses adopt a growth mindset by encouraging experimentation, promoting continuous learning, and fostering a culture of innovation. By embracing a growth mindset, companies can become more agile, adaptable, and resilient, better equipped to navigate changing market conditions, and leverage new opportunities.
Airbnb managed its success through a growth strategy and mindset unlike any other. The brand’s story showcases perseverance and steadfastness. The philosophy to grow while staying focused on products to create a unique experience for guests and hosts shook up the travel industry!
Identifies Various Priorities to Establish Goals
Strategy consulting is not just about your short-term or long-term goals. The right strategy consulting company will work with your business to thoroughly understand your short, mid, and long-term priorities. Then, they will establish clear objectives and goals based on your vision and work on them to make them a reality.
Helps Adoption of New Technologies
Today, technology rules our life in more ways than one. A strategic consultant can help you embrace the latest technologies and integrate new systems for success. Whether it’s social media, migration to the cloud, automation, or AI, strategic consulting can guide you toward technological advancements.
Booking.com is a leading travel portal known for its high-end technology and strong presence in the digital landscape. In addition, they have an exceptional SEO strategy, with 18 million organic keywords and traffic of over 120.6 million per month!
Recognises Challenges in Customer & Talent Acquisition
Customer and talent acquisition is one of the toughest challenges for any business. Consultants thoroughly analyse the business’s target audience and develop a customer acquisition strategy tailored to their needs and preferences. This can involve creating a messaging strategy, identifying the most effective marketing channels, and optimising sales.
Developing a recruitment process, identifying the most effective channels for talent acquisition, and creating a retention strategy can help with talent acquisition, too.
Starbucks, the world’s largest coffeehouse chain, wanted to reignite their emotional attachment to customers during 2008 – when 300 cafes shut down and 6700 employees were laid off. ‘My Starbucks Idea’ helped the company tap into what customers wanted the most. It generated 93,000 recorded and 1.3 million social media ideas, giving the brand immersive customer feedback.
Makes the Business Future-Ready
Consulting doesn’t just solve today’s problems but prepares for the future. For instance, HubSpot created an industry that didn’t exist and then dominated it with its futuristic strategy. The company built a narrative to prove how powerful a new way of marketing could be and created a billion-dollar worth business around it. They coined the concept of ‘inbound marketing’ and became one of the largest SaaS companies in the world.
Consulting can help businesses become future-ready by developing strategies that enable them to anticipate and adapt to changes in the business environment. As a result, it helps companies achieve long-term success and sustainably grow their revenue and profits over time.
InUnison brings a new outlook, industry know-how, and specialised expertise to help businesses enhance their operations, accomplish various objectives, and ultimately thrive and expand. As a strategy consulting firm, we’re always ready to listen to new and established businesses, understand the challenges and ideate viable solutions to convert strategies into success stories.
