We are taught to do this for our vehicles; why not our organizations?

Think of your organization as the vehicle for your mission. How are you going to make an impact if you stall out on the road? Can you run your programs without the essential parts? Is it time for a new strategy?  What new bumps in the road have arisen due to our shifting external landscape?

At Corona, we’ve packaged the Strategy Tune-Up service to answer these important questions. It may not be time for you to undergo a full strategic planning process. However, a well-timed maintenance check can ensure that you are staying on track, running smoothly, and keeping up to speed with your community’s needs.

Corona guided SCOL through the development of their new strategic plan in 2009, with overwhelming faculty approval in December. As of the beginning of May, the faculty approved their various implementation plans with an overwhelming majority. However, SCOL wasted no time informing and garnering support from one of their target audiences: their alumni. The article (beginning on page 22 of the magazine), includes excerpts from the plan document with supporting quotes from thirteen faculty, staff and alumni contributors.

Not only is the SCOL ready to implement their plan , but they are not shy about letting everyone know about it! To read the full strategic plan, click here.

With organizations needing to justify every dollar spent – and needing to make the most out of the resulting findings – not integrating market research is a costly error.

While Corona is not a department within a larger organization, we have seen similar issues from our outsider’s viewpoint.

How can market research be more fully integrated into the strategic infrastructure? Some thoughts…

• Include market research from the beginning. When large strategic questions start to arise market research should already be at the table.
• Have market research assess your in-house data to see what questions you might be able to answer with your existing data that could guide future directions.
• Promote market research to be an equal partner, not just a support function.
• Market research should be an integrated member of teams, not an outsider.
• Finally, to build trust, the first steps of integrating the market research component should be to focus on “small wins” – starting small with little projects creating little successes and slowly increase the scope and participation of market research that will lead to greater successes on larger projects down the road.

What other issues do you see? What else can be done?

When it comes to ski vacations, Vail resorts, through their own research, discovered that the lead time for planning a vacation has greatly decreased.  No longer are people planning and researching in the summer and fall for their winter holiday – they’re doing it just weeks before.

As a result, Vail significantly altered how they plan and buy their advertisements.  From long lead time print ads to short lead time social media, online ads, Vail is trying to get in front of the traveler with the right message precisely when it matters.

To see the AdAge video, click here.

A great example of how good data can lead to smart decisions.

It is in this spirit that we wish to recognize the University of Denver Sturm College of Law on the recent adoption of their new Strategic Plan.

The DU SCOL Strategic Plan is the result of an institution realizing their untapped potential and an opportunity for innovation. While law schools are traditionally resistant to change, SCOL saw their peers adopting new pedagogy and programs. How could SCOL leverage what they already do well while incorporating new approaches and practices? What do the leading legal professionals of the future need to succeed? What will make SCOL a truly distinct institution?

Their strategy to become a preeminent law school is grounded in two initiatives that address these questions. The modern learning initiative is designed to advance enriched integrated learning across the curriculum. The specialization initiative promotes and supports substance areas in which SCOL can achieve national recognition. Most importantly, there are essential synergies within and between these initiatives, including increased experiential and skills learning, pilot programs, new partnerships, and more.  These collaborations are what make this plan so dynamic and poised for success.

In order to uncover opportunities for innovation and synergies, Corona leveraged some synergies of their own. The Market Research practice conducted a nationwide online and mail survey of DU SCOL alumni and non-alumni attorneys and one of our qualitative analysts did an extensive literature review and analysis of eleven competitor law schools. The Strategic Consulting team synthesized these findings and worked with the Faculty Executive Committee to draft a plan for the next 3 – 5 years. This all followed extensive work done by Corona’s Data Analytics team, which used existing data to pinpoint core issues amidst complex circumstances and execute strategies to achieve success.

Corona’s involvement with the SCOL Strategic Plan (pdf) continues our strong relationship with the University of Denver, including previous projects for Daniels School of Business and The Women’s College.

Several trends have been emerging in Colorado’s social sector.  Here are a few to keep an eye on in 2010.  These trends recognize the importance of market forces in shaping the nonprofit sector and the tools that leaders can use in charting strategic direction during uncertain times.

• Nonprofits are increasingly talking about using dashboards or scorecards to track performance.  Boards of directors are asking for one-page of key metrics and performance measures on topics including mission impact, financial health and community engagement.
• The dynamic nature of today’s operating environment calls for more scenario planning.  Organizations need to evaluate their strategies and business models under multiple scenarios to determine which combination will succeed.
• More nonprofits are asking fundamental questions about their business models with an eye towards maximizing effectiveness and productivity in meeting community needs.  Not only are they concerned about the economic side of the model (both earned and contributed income), they are also taking a hard look at what they provide (Is it relevant today?) and how they provide it (Is it sustainable?  Are we making a lasting impact?).
• Competition for a share of the hearts, minds and pocketbooks continues to escalate as demonstrated by the number of year-end appeals in our mailboxes last December.  Given the tough economic forecast for 2010 and 2011 we expect that downsizing of the nonprofit portion of the social sector will pick up this year and next.  We will see consolidation of services, and mergers and acquisitions.  Let’s hope that those processes proceed efficiently so that precious philanthropic dollars aren’t wasted by people endeavoring to maintain “what we’ve always done.”  Market forces are effective at winnowing the marketplace.  That doesn’t mean it isn’t painful.  It also doesn’t mean that it isn’t necessary.  This will be especially important for smaller nonprofits (budget size of $250,000-$500,000) that depend on grants and government contracts.

So, it’s time to revisit your strategy and business model, plan for an ever-changing future, fine tune your metrics, and seriously consider if your community’s needs will be best met by the current marketplace of providers or a redesigned array.  May you have the courage to ask the tough questions and the resolve to implement!

Is the research being performed because you always perform it (i.e. your annual customer survey)?  Is it just time to put together next year’s plan?

Imagine the following…

• A company conducts an online survey because it’s quicker and cheaper to gather feedback about a new product  — but are their customers easily reached through online surveys?  Will they get the depth they need from a simple survey?
• An organization jumps into social media because everyone else is — but will they reach their target market this way?

To get the most out of your research — to implement the right tactics — focus on the problem and your goals first.  Then design the solution.  There are many methods of research you could conduct and there are many strategies you could adopt – and its easy to get caught up in the details rather than tackling the bigger questions.

Have a clear goal and the rest will follow.

• You now use ATMs instead of a window teller.  Maybe you’ve even gone cashless and do everything online.
• How often do you go into a gas station instead of just paying at the pump?
• When is the last time you went to a library for reference material instead of searching online databases?
• How many airline employees do you interact with BEFORE your flight?

Think of the many ways your touch points with customers have changed.  Have you updated your services accordingly?

Are you tracking your customers’ perceptions and satisfaction?  And just as importantly, their changing expectations?

Maintain your own momentum with your goals and strategies.  Be consistent in your execution.  It can take time – and it can feel like you’re behind at times – but you’ll finish ahead.