Use Elimination Strategies to Improve Business Decision Making - Indus Net Technologies

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Use Elimination Strategies to Improve Business Decision Making

May 23, 2013 by Mainak Biswas under Digital Marketing Marketing262 views
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The difficulty involved in decision making drives people to rely on information accrued from conventional methods such as recommendations from others, surveys, polls and even on a stroke of luck such as tossing of a coin. However, in this article we are going to introduce you to a new technique that will help you to make effective decisions regarding your marketing needs.

What is decision making?

Decision making involves the selection of the best option from two or more courses of action that are available. The choices that you narrow down from a host of them need not be the perfect choice, as an element of uncertainty is involved- you could have ignored the better choice, as there would have been a dearth of information that could endorse it. This handicap of decision-making calls in for a well documented log of decisions taken- reasons justifying them, as you can make adjustments later on to the areas that you find are lacking. Instead of brooding over the past, this is a better option to look into.

A brief description of the application of elimination strategies

Elimination strategies are devised in a bid to rake up a solution to the ever imminent problem of plenty, often experienced in dealing with an avalanche of information. It can be used to systematically sniff out options that look promising enough to be utilized in your deemed business. Armed to the teeth with the perfect choices tailor-made for your business requirements, you can be assured of a hassle-free marketing campaign.

Why is there a need for a structured approach to decision making?

For a decision involving a large number of options or choices, it is advisable to use a structured model for decision making that can spruce up the imperfections resulting out of decisions employing only intuition or reasoning. A structured approach is all the more important as it can be helpful to:

  1. Break down the complicated decisions into simple steps, so that it can be all the more easier to attend them to or keep a tab on them and their progress.
  2. See why the decisions are in place. Answer to such questions can be made available: What factors or reasons effected the change in arriving at a different decision? What reasons exacerbated the decision? Are there any lessons to be learnt from previous decisions? How dependable are these decisions? What constitutes the best ingredients to a delectable decision? What type of leads can it garner for you? How are your efforts to bring in a distinct change in your decision making process are rewarded? What deficient areas can you look into, for improvement?
  3. Be assured of the success of your plans and that you could train them to suit your needs in meeting the stipulated deadline. It can also answer questions such as these: How these decisions affected the course of your plan? Who is to be held accountable for the futility of the plan? What is the reason for this debacle, in that you failed meeting your expectations? What was lacking?

Stages of decision making using elimination strategies

You can enumerate seven different stages that culminate with providing you a competitive selection of options, assuring you of a fruitful marketing campaign. This can help you in achieving your desired goals on a social media platform like twitter. They are:

  1.  List all the possible options (like keywords) that you can come up with, by gauging the trending topics, most followed people or brands, merchandise and other popular wish list of people.
  2.  Set a time scale for a particular decision, so that someone can be held accountable for not meeting it.
  3.  Collect various information and statistics regarding the type of users you have narrowed down to target.
  4.  Make a note of the risks involved.
  5.  Note down your expectations- the quality of them. These requirements need not be toned down to bare minimum, but in a way, should suffice your necessities.
  6.  Make a note of the expected course of the decision.
  7.  Eliminate the undesirable options according to the expectations you noted down.

These strategies and the other topics that we have covered, provide you with a clear idea of decision making and how to use elimination strategies in the process for your marketing campaign. Thus, you can be assured of a successful campaign if you bind to these rules mentioned here. Your campaign can be a fruitful one.

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