As a new or seasoned company, figuring out how to continue to drive your company’s value upwards can be challenging. How do you identify potential threats while still focusing on continued quality? The main threats you deal with will be specific to your company, but being aware of a variety of different threats can be helpful.
IP (intellectual property) theft is a big threat that you need to be aware of especially if your brand is associated with any kind of art including music, film, drawing, or painting. But IP theft occurs with other patents or copyrighted designs.
Figuring out the actual bounds of your intellectual property can be challenging though. There’s a fine line when it comes to claiming to own information and claiming to own trade secrets. Work with an intellectual property lawyer to help you build up your patents, copyrights, and other precautions.
Bad press can also make your brand quickly fall from grace. There are a number of ways to avoid getting bad press and a number of ways to respond to it. One of the most important principles when it comes to dealing with bad press is being honest and upfront. If the reason you’re getting bad press has to do with something you did, whether big or small, own up to the mistake.
The sooner you admit, apologize, and then present a plan to fix the problem, the quicker the story will be over. Following this pattern could actually give you the chance to win over some customers who will respect your humility as a company and your desire to change.
Failure to Connect to Audiences
Another way you might be threatening your brand is failing to adequately connect with your audience. Connection is so important to your brand being memorable—remember that there are always competitor products out there.
And while much of the thought process that goes into decision-making is connected to the individual attributes of a product, there is also a large group of buyers that make an initial product decision because they like the feel of the brand and then stay with that brand for years later. Connecting with your audience starts with carefully identifying their needs and a message or story that resonates with them.
You might be surprised that your brand could be the target of cyber-attacks. But your company’s data as well as your employee and client data are actually things that a lot of hackers could be interested in. There are a variety of things you can do to prevent cyber-attacks like limiting the information that employees have access to and even providing training about different impersonation emails employees might receive.
But in all reality, having strong cybersecurity takes more than this. You’ll want an even more comprehensive approach to protecting your company and your information. Outsourcing your cybersecurity can help protect your business from IT threats. Instead of trying to manage all your security issues yourself, outsource to the pros.
Keeping your data and business safe is important but recognize that your brand can also be threatened by moves your competitors make. Be aware of the different kinds of threats that competitors can introduce like more advanced products, better pricing, or better connection with the target audience.
Try to do your research on your competitors and stay up to date with their different developments in order to better understand the market. Ultimately, you will have to accept that sometimes competitors will outdo you in different ways—learning how to respond to those instances is often more important.
Figure out how to either do what they do better or figure out how to maximize the specific elements of your product that serve a particular audience.
Stock shortages result when some unexpected events prevent a distributor from fulfilling an order made by a customer. Some stock shortages aren’t entirely preventable, like stock shortages that occur because of bad weather inhibiting a truck from delivering the products. Other stock shortages occur when distributors simply do not predict well enough how a product will do on the market.
Try to do as much research as you can ahead of time to be able to gauge how many items of a given product you need to have available for sale. Making the effort to be prepared will help you be sure to have the right amount of different products to respond to your customers’ needs.
Losing Talented Employees
Another truly sad way to see your brand lose some of its value is to see great talent leave your company. If you’re starting to see a pattern with great employees moving on to other companies, try to figure out why. Make sure you really understand the different management styles of your different managers and assess how those are working.
You should also take the time to really analyze your company culture. Try to get honest feedback from your employees. How do they feel about the culture? Do they feel valued and capable? If not, make the effort to not only encourage but to also demonstrate the value of your company principles as a leadership team.
Demand Goes Down
One of the hardest threats to your brand to deal with comes when demand for your product goes down. Demand can naturally go down as different “better” products are introduced on the market. Demand can also be catalyzed to go downwards as a result of unforeseen events like wars, pandemics, or natural disasters. Figuring out the best way to respond in these situations will require quick-thinking and willingness to make some sacrifices.
As you work to be prepared for potential threats to your brand, be sure to think about your overall company goals. If you are focusing on your company’s main core values as well as specific goals for your progress, you’ll be able to find the right balance. Ultimately, you don’t want to be too focused on company threats to miss out on positive growth opportunities.
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Many business owners actually underestimate the benefits of a successful marketing strategy for their business. But marketing is an essential part of helping any business to maintain growth and continue improving over time. Here are a few marketing strategies that are known to be successful and to make a huge difference for the businesses who implement them.
A referral program is an incredibly effective marketing tool that allows you to get more customers from your current customer base. Referrals tend to be essential to businesses because you can start new business relationships with a high level of trust. Your referral program should encourage customers to suggest your company to their friends and relatives. Reward systems like offering discounts or gift cards can be a great way to encourage referral behaviors. Make sure that you let every customer know about your referral program so they will help you to build your customer base.
You may not think improving your customer experience is part of the marketing process, but it definitely is. When customers know that you care they are more likely to return. Being responsive and helping customers on social media can increase revenue by up to 81%. Take time to improve your customer experience both in person and online to allow your customers to feel more valued when they visit your store. This will make them happier about continuing to work with your company and excited to see what you do next.
User Generated Content
One incredible way to do marketing for your company is to take advantage of user generated content. This type of marketing strategy allows your customers to easily create their own marketing materials and tag your business. One of the benefits of this kind of marketing is that it gives you the chance to see the creative work your customers can do on your behalf. You can incentivize this kind of marketing by offering rewards to your customers for creating their own marketing materials. You will be impressed by what you see and may be surprised by the creativity and innovation your customers show.
With effective marketing strategies you can improve the way your business is seen and experienced by potential customers. When you make it your focus to find effective marketing tools and use them well, you will definitely see the difference. And then you can get back to focusing on the business work you do best.
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As COVID winds down, businesses are revving back up. Getting your website in tip top shape this year will make a huge difference as the economy improves and competitors also seek to snatch the new sales opportunities that are arising. Here are the top three benefits of revamping your website!
Polish Your Brand
Talk about how a new website can polish your brand image. Your business website is essentially your chance to communicate your brand fully. Developing a new website or new design to your current website will help your brand come across as up to date and always improving. Also, polishing your brand will help you stand out among your competitors, so make sure to assess how you can better focus your design, web copy, and layout to communicate how you are different from the rest. If your brand shines brightly from every one of your website pages, you’ll know you’ve done it right.
Higher Conversion Rates
Every website invites people to take some action. When a user actually does this, the true value of the website page is accomplished. Conversion rates are your way to track this, or what percentage of users that visit your website vs. take a desired action, and having a high one is essential to making online sales. For this reason, your website must be designed to facilitate high conversion—ideally, 30 to 50 percent of your leads should become a customer. Make the first initial step easy and remove distractions, and you’ll be well on your way.
Improve User Experience
When you remake and renew your website, you also have the chance to improve the experience of your website viewers, facilitating their interest, enjoyment, and possible involvement. Being able to access information easily is the draw of the internet in general, so if your website doesn’t follow this rule—with long loading times, lots of distractions, and an unintuitive layout—you’re not likely to give your users an enjoyable experience. Making your website accessible to cell phone users especially can help reduce that bounce rate that keeps potential customers from seeing all you have to offer.
Your website is the digital face of your brand and products. As a business, you need to make sure this interface is as immaculate as a physical lobby is at business storefronts. When you do, the resulting benefits will be worth all the effort and time—in fact, you’ll just wish you’d done it sooner!
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Marketing is an important part of any business. There are many different strategies and tactics you can use. Competitive marketing can help your business to get ahead, so it’s important to learn how to best apply it.
Keep Up With Trends
If you want to be competitive, then you need to know what other people are doing. You should be aware of the current trends in marketing so you can see how other businesses are using them and how they can work for you. If a marketing tactic is popular, then usually there’s some merit to it. Typically, you can look at the popular trends and then make adjustments to the advantage of your business. There are lots of ways you can be aware of trends. Keeping up with social media is one of the best ways. Social media is updated quickly, and most trends will be apparent there. You can also stay updated by perusing industry blogs and newsletters. These will give you lots of information along the way.
Technology has truly innovated the marketing process. You can use software to automate many aspects of your marketing. For example, you can use software in your social media marketing as well as email marketing. It can help you to maintain consistency and make it easier to perform tasks for your business. Software is also an important tool for gathering data about your audience so you can improve your marketing strategies. In many cases, software is the best way you can market and if you want to keep up with the competition, you need to get on board. 84.5% of digital display ads were bought with programmatic software in 2020. With such a high percentage, it only makes sense to get involved.
Know Your Audience
When it comes to marketing, one of the most important things you can do is take time to really know your audience. Doing so can help inform all of your marketing decisions and it can help you stay ahead of the competition. There are several ways to know your audience better. First, you can look at your current audience. Understand your customer base and know what their patterns are. You can also define your audience for yourself. Picking a more targeted audience can help you make more specific marketing choices.
Competitive marketing will help you to keep up with your competitors and find ways to move beyond them. You want to do all you can to improve your marketing strategies. Explore new ways you can make your marketing more competitive.
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A good website makes a bigger impression these days than a good front lobby—and that’s because, more than ever, people are researching business online long before they ever give you a call or walk through your door. Whether you’re completely e-commerce or a Mom-and-Pop shop, having a website that comes up on the first page of a search engine is essential. To design your website in a way that is SEO friendly, don’t forget these three things.
Blog Content That Intrigues
The biggest way to be searchable and attract traffic to your website is to make sure there is a blog feature, and that blogging is actually happening. Putting a few articles up on general topics isn’t usually enough—you’ll need to research what it is your target market is looking up on search engines and then create a lot of content answering every aspect of it. Often businesses think that a blog is the time for long-form advertisement, and while it is a great step towards a lead, the blog content needs to answer the question thoroughly and in an interesting way, not just sell a product.
Access to Easy Client Communication
Another sign of an SEO-friendly website is one that is designed to communicate easily with clients. Customers should never be left out of the loop of communication. On a website, having multiple places like an FAQ page, a chatbot, and a Contact Us page will drive a lot more traffic and multiple clicks on your website—which is important, considering people usually click around a business site at least 5 or 6 times before actually buying something. Even showing a willingness to communicate goes a long way in improving the chances of a site user turning into a client.
Updating to Stay Relevant
The last and not often remembered way of being easily-searchable on the internet is to constantly update your website. Whether it’s the front page, the blog content, or another part of your platform, making sure you never become an old, never-updated website will put you a lot higher in the Google algorithm. It may be a small thing, but forgetting this one will make the other two tips null and void.
The future is digital, so getting noticed on the world wide web is worth your time. Your business will have a bright future ahead as it continues to establish and maintain an online presence. Get on that blogging and updating, and you’ll see a big difference!
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Virtually anyone with experience in business knows that marketing has a crucial role to play in attracting customers, both new and repeat. What is perhaps a little less obvious is that not just any marketing strategy or concept will do, and certainly not for every business. Marketing is anything but a one-size-fits-all tactic, so how do you choose the right one for your business?
Identify Your Goals
Sure, there’s the overarching goal of marketing to help a business succeed, but what does that mean for you specifically? Different marketing strategies may work better for different purposes. For example, SEO strategies can help improve your online visibility. Email campaigns, on the other hand, can help encourage previous customers to return to make more purchases. Is your goal to grow your new customer base? Do you want to see sales rise? Those may sound like the same goal, but there are nuances that can influence which strategy will best help you achieve your goal.
Understand Your Company Needs
Identifying and setting goals for your business and marketing campaigns is good, but there’s something you should do first. Before you start setting goals, you must first understand what your company’s needs are. It’s easiest to identify a solution and work towards it when you know what needs it’s fulfilling first. For example, 74 percent of small businesses view keeping up with technology as a very important key to the success of their company. The ability to keep up with technology is the need. From there, you can determine how to do it and set the goal to achieve it. Ideally, your marketing concepts will be what helps you achieve that goal and fulfill the need.
Know How to Reach Your Audience
You may have a high-quality marketing strategy all planned out, but what good does it do if it doesn’t reach the consumers you’re trying to target? Not all marketing concepts are going to appeal to every demographic. If you want your strategies to be effective, they must be designed and carried out in a way that allows them to actually reach the intended audience. Take social media, for example. Different generations use social media differently, which means you need to understand which ones to focus on if you intend to leverage social media in your marketing.
There’s a lot that goes into deciding what marketing concepts or strategies to use at any given time for any particular business. Identifying goals, understanding the needs of the business, and knowing how to reach your audience with your marketing are just a few of the things you should do to decide which strategies to use. Take them into consideration every time you start working on a new strategy to help guide you to the ones that are most likely to work best.
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Every business needs to develop strong marketing strategies. With the right marketing, you can increase brand awareness and grow your business. Of course, it’s helpful to know which strategies will bring you the most success.
SEO or search engine optimization marketing is centered around improving your overall ranking to increase website traffic. Your SEO ranking determines where your website will appear in a search. For example, a high ranking will put you near the top on the first page of search results. By improving your SEO, you can increase your exposure and make it more likely for people to click on your website. Your ranking can be improved in a number of ways. Start by increasing the quality of your website with a pleasing design, faster loading speed, easy navigation, relevant content, etc. It pays off to put time into your website. The better it is, the higher your ranking will be, and more people will see it and be exposed to your business.
One marketing strategy that is becoming widely popular is content marketing. With content marketing, you regularly produce content related to your business. For example, if you own an insurance company you might write blog posts about different insurance types or common insurance questions people have. The benefit of content marketing is people will often be searching for information related to your business and if they find your content, they will also see your business. Having a lot of content can also boost your credibility and make your business look more reliable. Marketers around the world believe content marketing to be the most effective digital marketing technique.
Social Media Marketing
Many businesses have begun to embrace the use of social media for marketing. Social media is an excellent tool because it reaches a very wide audience, and it allows you to advertise and interact with your customer base. There are many social media platforms you can choose from, so you can find some that facilitate your marketing needs. You can use social media marketing to advertise your products and services, gather feedback from your followers, and increase your brand awareness. There are tools available to help you manage and monitor your social media marketing.
When you employ efficient marketing strategies, you can increase the awareness of your business and find more clients and customers. It is an essential part of growing your business. Using multiple strategies can help you toward success.
Enhance your marketing efforts even more with a great website! Contact us to get started.