Surgery.com is all about connecting cosmetic surgeons and physicians to consumers who are seeking such services. Hence, it is crucial for the site to understand the needs of both, consumers as well as doctors. Conducting a formal bi-annual survey will allow the site to feel the pulse of stakeholders and adapt itself in a more efficient, low risk manner.
Although the site has gained tremendous popularity, it still needs to extend its reach to the maximum number of consumers possible. While undertaking vigorous PR and marketing campaigns is the obvious way to go, the success of such initiatives will lie in the ability to focus on markets and regions that hold the most potential. Identifying procedures that are gaining acclaim and marketing these will promote faster growth of revenues. Expanding its network to other geographies, including developing countries with a rich upper class, may also be profitable.
As the business grows, there are bound to be redundancies within the organization’s operations. Conducting a thorough analysis of its internal processes and functions will enable streamlining of operations, cutting unnecessary costs, minimizing efforts and, hence, maximizing overall efficiency and financial performance.
As the CEO of the company, I would first identify areas of the business that hold the maximum potential to drive revenues. I would allocate approximately 40% of the funds to marketing and PR activities as well as diversification projects in order to extend the reach of the site. 20% of the funds would be used to drive rigorous sales and network building efforts, including the building of strategic alliances. About 10% of the funds would be allocated towards the overhauling of organizational processes and operations. Another 10% I would direct towards promotional activities and offers, such as loyalty programs and rewards. Finally, 20% of the funds would be retained to meet future contingencies.
