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Redefining Corporate Success: Strategic Insights from Steve Simkus

Posted in General Business Info, Marketing Plan

Ready to unlock the full potential of your business? Working with a business consultant like Steve, with deep expertise in developing marketing, sales, and operations strategies can be invaluable to your business success.

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EMBOSSRunning a successful business depends on developing a carefully crafted strategy that considers a vast array of variables: shifting market dynamics, evolving consumer preferences, emerging technologies, global competitors, supply chain disruptions… the list is practically endless. But developing and implementing an effective strategy that addresses these variables requires expertise, insight, and a deep understanding of the many aspects of business operations. For some businesses, it means bringing in a trusted advisor that can help assess your business and build that strategy, while you stay focused on running your business. That’s where EMBOSS Consulting  or our Fractional CMO services comes in.

About Steve

Steve Simkus brings a long and diverse background in business, marketing and sales in a career spanning more than thirty-five years. A true data-driven, result-oriented marketing and business strategist with well-honed instincts, Steve has developed and implemented strategies across a range of industries and enterprises; he is equally comfortable working with the owner of a growing entrepreneur-led company as he is addressing the c-suites of global corporations.

Steve brings a deep knowledge of business and internal processes and a keen understanding of the importance of a fully integrated digital marketing strategy to advance and achieve a company’s goals and objectives. He has extensive experience in developing, implementing and evaluating branding strategy, website redevelopment and email marketing campaigns, while staying aware of their potential impact to operations and processes. He also has a well-earned reputation for his ability to take complex subject matter and turning it into easy-to-understand, accessible content.

Case Study

As an example of the comprehensive approach Steve takes in dealing with clients, consider his work with a branded boutique specialty retailer. Exclusively selling a well-known apparel brand, the retailer was facing stiff competition from larger chain stores who used the product as a loss leader. After months of declining sales, management contemplated matching the competition’s prices head-on, but Steve quickly realized the pitfalls of such a strategy. Lowering prices would not only erode gross margins, but also strain operational capacity, as their boutique model wasn’t equipped to manage the increased sales volumes associated with competing solely on price. Further, discounted pricing ran counter to the high-value, boutique brand positioning the stores had sought to maintain since opening.

Instead, Steve conducted market and quickly identified a gap in the competition’s approach. While drawn by the low prices, customers found the product out of stock, or encountered issues with missing core sizes or lack of staff to assist them. Recognizing an opportunity, Steve proposed a two-pronged counterstrategy:

  • An “in-stock guarantee” on core products and sizes
  • An “everyday low price” strategy which. while slightly reducing, maintained a level above competitor loss-leader offers, as well as protecting gross margin.

The rationale was that customers, while no longer willing to pay “full-price,” would choose to pay more than the loss-leader price if they could find what they wanted more easily.

Key success metrics were established, focusing on “Total gross profit from sales.”

To support the strategy, store inventories were adjusted, and warehouse inventory increased in preparation of increased sales volume. Staff also received training and an in-store awareness campaign deployed.

After a three-month trial in twelve stores in western Canada, the results were remarkable. Not only did gross profit double from sales in the everyday-priced product, there was also significant increases in sales of full-margin products like tops and accessories not available in the larger chains. Encouraged by these outcomes the strategy was rolled out to fifty remaining stores across Canada.

Custom Strategy Development for Your Business

Working with a business consultant like Steve, with deep expertise in developing marketing, sales, and operations strategies can be invaluable to your business success. Steve brings a wealth of experience and knowledge to the table, helping businesses navigate the complexities of today's business landscape with confidence and clarity.

Our approach:

Tailored Solutions: You’ll receive tailored solutions that address specific corporate goals and market dynamics. We’ll take the time to understand the unique challenges and opportunities facing each client, and craft customized strategies that align with your objectives to drive sustainable growth.

Strategic Insights: As a business consultant, Steve brings fresh perspectives and strategic insights to the table, helping you identify untapped opportunities and potential roadblocks. By leveraging his expertise and market knowledge, consultants like Steve can provide valuable recommendations and actionable insights that empower your business to make informed decisions and stay ahead of the curve.

Competitive Edge: In today's competitive business landscape, having a clear strategic advantage is essential for staying ahead of the competition. Working with Steve at EMBOSS consulting enables businesses to develop strategies that differentiate them from competitors, allowing them to carve out a unique position in the market and drive long-term success.

EMBOSSED STAMP OF SUCCESSReady to unlock the full potential of your business?

Take the first step toward success by booking a complimentary strategy session with Steve. During this session, you'll have the opportunity to:

  • Gain valuable insights into your business operations and market dynamics.
  • Identify growth opportunities and potential areas for improvement.
  • Develop a clear action plan for achieving your corporate goals and objectives.

Steve SimkusDon't let uncertainty hold your business back.

Contact us today to schedule your complimentary strategy session and take the first step towards unlocking your business's full potential.

Book Your Complimentary Strategy Session with Steve TODAY!

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