How to apply knowledge management in a company?

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With digital transformation and new purchasing dynamics , adapting a product to a new market is much faster. Therefore, the risk of exploring uncharted territory is far outweighed by the potential benefits of doing so. Creation of new products Unlike the previous strategy of selling existing products into new markets, here new products are inserted into existing markets . In this technique, it is important to maintain the essence and quality of the brand and opt for adjacent products. In addition, you must take into account other key aspects: Did you know that 95% of the products launched on the market fail ? This is due to various reasons, such as: Insufficient cast time; Inadequate customer segmentation; Little test time; Lack of coordination; Poor marketing . To succeed in this business growth strategy, you need to read: Product Strategy: What it is and how to develop one that shakes the competition.

Leveraging the customer base This business growth strategy is to sell more products to your same customers . This implies extensive knowledge of the market and the competition, as well as a deep bond with your audience. To achieve this, the key is to use data on the behavior and interests of your customers . At this point, it is essential to resort to big data and artificial intelligence to drive ETL processes of data extraction, transformation and loading. Don't know Phone Number List where to start? Don't worry! Query: Customer data: how to create a database and use it efficiently? Alliances and cooperation This business growth strategy dispels the myth that companies must do everything alone . Alliances and cooperation are great resources to develop business . Partnerships are a reliable way to lower costs and risks when exploring new markets or types of customers.



At the same time, they allow to speed up the investment recovery time . Another way to create alliances is to cooperate with your competition . This will help you find common ground to drive profits and ensure win-win results in the marketplace. Step by step: How to develop a growth strategy Regardless of which business growth strategies you decide to implement in your company, a prior planning process is necessary to guarantee its success . This will allow you to develop the most appropriate strategies both for the context and for the particular needs of your business . Follow these steps to achieve it: 1. Analyze the market The first step is to analyze the commercial context in which you will develop your strategy.