As an entrepreneur, you should know the importance of building an effective brand for your small business that encourages customers to return. A strong brand can mean the difference between running a small business and creating something which sticks in the mind and promotes your company more effectively than any other kind of marketing.
Building brand is not as easy as it sounds. Brand identity does not just revolve around the colours, packaging and logo of your business, but it is all about the message that you want to tell your customers. In other words, effective brand equity does not only involve physical appearance of your logo or products, but it involves the deepest part of your company’s identity and its potential for attracting customers.
There are many companies out there that are performing poorly because their brand equity is too low and is not pulling its weight. Building brand is about creating a more effective marketing campaign, and many small businesses can struggle to raise their equity due to the block created by their early identity, both in the minds of customers and in their own minds. These companies often suffer problems with retaining clients, and there may be no long-term relationship between the business and its customers.
One primary complaint against huge, popular companies is that they take away businesses from small, locally owned shops. With these super businesses, it can be difficult for small businesses to stay afloat. Usually, the mega companies are able to have lower prices, which are appealing to consumers.
Fortunately, there are a number of ways a small business able to compete with larger names. One great way is to carve out a niche for you is to offer unique or specialised items. The huge superstores tend to only sell generalized products that are meant to work for the majority-kind of a “one size fits most” mentality. If small companies can address a specific need of the people in the same area, they may be able to survive.
Another way for your small shop to be able to compete with the bigger ones is to advertise. One of the biggest advantages large businesses have is that they are popular to local residents. With a small business, town residents may not even know that you exist. Thus, you may want to devote more money to spreading information about themselves as compared to larger corporations. Then, once you build a sizable clientele base, you can rely on their word-of-mouth to bring in more business.
As of the second quarter of 2016, Facebook had 1.71 billion active users. Having this high number of members and still growing, Facebook has become the most popular social network site in the world. The members include people of all ages and interests. This is the main reason why Facebook is not only a great platform to socialise with other people from all corners of the globe, but it has also become a great marketing tool.
With Facebook, it has become easier for companies to connect and build relationships with their customers. It is used for networking and nurturing relationships with other people by net savvy marketers. Message can be made via live chats or private messages.
One of the most underappreciated advantages of Facebook marketing is its potential for strong brand building. Sharing of as much information as you want can be done through your profile page. Brand awareness can be brought about by posting photos and logos of your products. There is the amazing opportunity of spreading your core brand message far and wide.
Marketing through Facebook does not involve a lot of money. The only cost involved is the time required for creating and managing the page on an ongoing basis. Facebook’s potential viral aspect of reaching a large number of people and the low cost of entry, make it a very viable marketing tool.
What is a startup business? A business startup (otherwise known as a startup company or just simply, startup) is a company at its first stages of developing the product or service which their business founders believe will be in demand.
A startup is a company that is usually financed by its founders. However it will require additional financing from investors and venture capitalists since it will not be sustainable in the long run.
There are so many startup companies existing from all corners of the globe these days, but the term is mostly associated with the information technology and the rise of many so-called Internet startups during the dot-com bubble in the1990s. But due to lack of sustainable revenue and major mistakes underlying their business plan, many of these online start-ups failed.
On the other hand, some companies survived and succeed despite the overwhelming amount of the competitors. Two of the most popular startup companies that turned into giants are the online stores eBay and Amazon.
In Australia, there are many startup companies rising every year paving their names as the fastest growing businesses in the country. For this 2016, Business Insider has sited 5 Australian startup companies to watch.
Social media is no longer just for sharing what you may be doing every minute of the day, what you and a friends and family do during your vacation, or even sharing the most adorable pictures of your pets. Nowadays, LinkedIn has become the fastest growing network for business professionals all over the world.
LinkedIn for businesses
Business owners understand the importance of advertising. Advertising is one of the factors that is crucial to the success of a company as you can use this networking site to let the whole world know that you are in a business, and what your business can offer to them.
With around 380 million active users worldwide, LinkedIn is indeed a great place to market your business. Using this platform for your marketing campaigns is indeed a great start to get your company some exposure.
LinkedIn allows businesses to get the word out to the demographic groups that you are looking to reach. There are a lot of professional individuals and businesses that are signed up on LinkedIn and they usually search for their business needs through the network because there is a wealth of information available about each company there.
In an article posted by Kevin Mallen at 9 News Australia, Kevin teaches businessmen who to build their business through LinkedIn. He teaches 4 helpful tips you can follow.