Advertising should be viewed as an investment that should generate a return, rather than a fixed cost. Many businesses spend money on the same kind of advertising each month without knowing what is working and what isn’t. Effective advertising builds profile, generates new business, and retains your existing customers. Poorly thought out advertising can create […]
1. Build credibility quickly Why should people buy from a new business? Your first challenge is to overcome their doubts by building trust and credibility quickly. Some tips: Promote your skills and experience, plus those of your staff and associates. Join your industry or professional organization and start building a profile. Commission a writer to […]
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As a small business owner, you’ll want to get positive returns on a limited marketing budget. It’s important to monitor the quantity and quality of advertising in order to be as effective as possible. Choose advertising you can monitor It’s impossible to measure the exact returns from investing in building your brand. A familiar saying […]
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Long-standing customers form the backbone of a strong, well-established business. Make it your mission to ensure that the vast majority of your current customers stay with your business for many years to come. Why it’s vital to keep existing customers Your current customers already have personal experiences of dealing with your business and using its […]
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Start-ups are at a disadvantage when it comes to their first sales forecast because, clearly, they don’t have any historical data to base it on. But there are still ways to create an accurate sales forecast, and it’s important to do so because it’ll help you work out if your business idea is financially viable. […]
If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new customers and get your products or services into new markets. Here’s what you need to know to identify new customers and markets. Finding new customers in existing markets Profile your existing customer base to re-establish […]
The ideal promotion plan is one that results in clear steps you can put into action immediately. This means concentrating on just the practical, promotional aspects that will lead to results. The good news is that you can do it yourself. Identify your targets Identify the exact types of customers you want to sell to […]
Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simply involves gathering a few your target market customers together, and then putting a series of questions to them. It’s best to get an outside person to conduct this type of research, because […]
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Whether you’re thinking of starting a new business, considering adding new products, opening a new branch, or increasing the services you offer, it’s common sense to research your market to make sure there is sufficient support for your idea. There’s little point adding the latest top-of-the-range Jacuzzi to your product range, for example, if you’re […]
It’s easy to come up with a number of business ideas but to make sure your idea is viable and can be run at a profit, you’ll need to do quite a bit of market research. The good news is that doing your own market research is not as hard as it sounds. Here are […]
Coming up with new ideas for your business is essential for growth. And it’s exciting when you’ve got a new product or service to offer. But before you launch your new offering, it’s important to find out if there’ll be a demand for it. So you need to take some time to test the market […]
A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reasons for people to do business with you rather than with other businesses. The need to identify your point of difference is important. The more similar your business is to many others, the greater your […]
Choosing the best export target(s) for your business is critical because ‘getting it wrong’ can waste time, energy and money. This section provides ideas and information to help you understand the opportunities better and identify the best targets and marketplace. Note that a target can either be a specific customer (like a large company or […]
You probably already have a coordinated marketing plan, set prices, and know what you’re doing. However, to create more awareness and increase sales of your offerings, you may need to make some minor adjustments to your overall marketing strategy. Create greater awareness to sell more Even if you’ve got the world’s greatest new product or […]
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Questionnaires provide an excellent way of getting feedback from your customers because everyone is familiar with them and is used to filling them in. You can use the feedback from a well-designed questionnaire to improve your business procedures and your marketing. A questionnaire-based survey should be conducted on your customers at least once a year. […]
Whichever industry your business is in, cultural differences can have a direct impact on your profitability. If you try to understand the cultures of your customers – their customs and differences – you’ll have a better chance of keeping them and gaining more. By being aware of the key factors that will impact your business, […]
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