Tag Archive marketing

4 Advantages of Video Marketing For Businesses

This is the tool that all businesses should use today.

Image with a laptop a writing book a pen and a camera

4 advantages of video marketing for businesses. Unless you have been living on another planet, it’s well known that video marketing is one of the most powerful means of advertising. It will pass on your message and create attention.
Today, video marketing for businesses has become very popular, not only with large organizations, but with smaller businesses as well. Even some of the Ma and Pa businesses have started to invest in video marketing.

1. Quicker Rankings

Achieving page one rankings for your website on search engines such as Google, Yahoo, Bing have become far more difficult. In the past 3 to 5 years, especially if your business and/or products are in a very competitive market/niche. Page one rankings can take anywhere from a few weeks to many months or even longer with normal methods. They can be: back-links, information content, website structure etc. etc. However, creating a video with the same keywords it can rank on page one within hours or sometimes minutes. Therefore, if you’re looking for quick SEO results for your business website, include video marketing as part of your SEO.

2. Videos Are More Appealing

A video is more appealing to customers in many ways. Visual is the best form of showing and demonstrating how a product looks and/or is used, especially when the actual business owner is in the video demonstrating or explaining the product. Research has found that people take in information and understand better when it’s presented in a visual format than just a page of words. This could be one of the main reasons why YouTube gets over 2 billion video views per day.

Video marketing generally creates more user engagement and understanding about what you do and what you sell in your business and when added to other social media it can put your business on a higher level.

3. Using Video in Social Media

The great advantage of video marketing is that it fits in well with social media. This method has proven to be extremely popular in recent years. Businesses with Facebook Fan pages are not complete without video content; the video has a stronger attraction effect, even if the video is not fantastic or has no viral attributes than just plain text updates. Taking a look at the most popular Facebook Fan pages, the video is undeniably a key constituent of their marketing strategy. However, Facebook is only one social media company, there are many other social media companies that video can be used to promote your business. Therefore, applying the same techniques as the big boys will boost your video marketing using social media to be the envy of your competition.

4. Video Marketing Is Cheap

Today with advances in technology, video marketing is one of the cheapest forms of online marketing and is a method a small business owner could do by themselves with basic equipment even when on a tight budget.
One method is by using your smartphone, you can record a basic video about your business and upload it to your Facebook business page or YouTube channel. Video Marketing is a very affordable option compared to more expensive radio and/or TV commercials.
Need help with your online video, YouTube and/or social media Marketing?

Conclusion

If you really think that video can improve your business, by all means, give it a try, I have given you enough information to make a go. However, if time is tight and you are busy running your business we are here to help. Leave a message in the contact page and we will get back to you.

5 Biggest Mistakes Many Business Owners Make And How To Fix Them

Are you making these mistakes?
Most probably!
You are going to learn what they are and how to fix them. So, let’s check it out.

Image of an ad for a car’s service prices.

First Mistake

Business owners try to do everything themselves. If you do this, you are going to drive yourself insane and burnout. If you are doing:

  • all the bookkeeping,
  • the marketing,
  • opening in the morning,
  • closing at night
  • the advertising
  • answering all the calls and
  • taking care of customers

You are going too quickly and found that you built yourself a job and not a business. That’s not a situation you want to be in because you limit the growth that your company can go.

Solution

The solution to this is obviously simple:

  • delegate to your employees,
  • delegate to another company
  • hire people that can help you
  • find a marketing company
  • find a bookkeeping service and
  • other services that can help you with your business.

When you do this, you’ll find more time to spend on developing your business, instead of working in your business. You never want to work in your business, you want to work on your business. So, learn how to delegate.

Second Mistake

Focusing on one type of marketing is not enough.
There are many types of marketing, you should be really taking part in all of them to really get the best marketing and advertising campaigns possible. These are the most used today by successful businesses:

  • online marketing
  • print marketing
  • direct mail and
  • depending on your budget, TV, and radio

Solution

Naturally, the type of business you own depends on the type of marketing you do.
Therefore, if you’re an online business you may want to spend a little bit more time and money in online marketing, but it doesn’t mean you should eliminate all the other ones. Here are other ways to go even further:

  • do video marketing
  • if you have a website, do website SEO
  • video SEO
  • do paper click campaigns
  • you can do banner ads
  • focus on social media.

There are a hundred and one different ways to go and each category can go deeper, and deeper. As an example, if you want to do video marketing:

  • do video SEO marketing
  • Google marketing or
  • YouTube marketing.

It will take some time and it may cost you a little bit of money, but in the result, you will have a  very powerful marketing campaign that will take your business to a higher level.

Third Mistake

Most business owners think that they are marketing geniuses. The truth is, they’re not!
There are a lot of things you can do on your own, there is a lot of research you can do and you can learn a lot of things. But really be honest here, the focus should be on your business.

Solution

What you should do is hire employees who know marketing or seek out a marketing company. Hence, if you want to do video marketing, hire a video marketing company, if you want to do print advertising, hire a print advertising company and so on.
Don’t be tempted to do the marketing yourself. Unless you have the experience, it will never be as good as a professional company.

Fourth Mistake

Most business owners don’t cater for their customers. As a business owner, there is a lot you need to be doing and like I mentioned in the second mistake, you should be focusing a lot on marketing. If you are, that’s awesome, but you cannot forget to cater to your customers, they are your business.

Solution

Focus on the customers you have because you need them, so give back value again, and again. If you’re spending too much time on marketing; driving new customers into your business, that’s great. But what happens if they don’t return? Your customer service and products should be so good that they think you are over delivering.
There are a few things you can do to ensure your customers are happy, and they come back to you time and time again.

For example, if a customer comes back often:

  • if you own a coffee shop, offer them a free cup of coffee sometimes or
  • own a running store, maybe give them a water bottle with your logo on it or
  • you have a retail store, give them a discount on the next purchase or
  • if you own an online store, you notice that some customers are buying from you time and time again, contact them, let them know you’re thankful for the business, and then offer them a discount code to use on their next order.

Small things make customers happy, and they end up telling their friends, and they say, hey this company gave me a free water bottle or I have a free cup of coffee here or this company gave me a discount on my last order because I buy from them so often.
People will talk about your business and that’s what you want, you want word of mouth because that is the best type of marketing you can do and you can’t put a price to that.
That’s what you want as a business owner. You want your customers to go out and tell other people about it. If you’re doing things right, your customers will go out, and they will tell everyone they know about your service. Another great thing you can do is to run a contest or a giveaway to get people involved

Fifth Mistake

They don’t listen or test new ideas, and this is really important for any of business because business is always evolving, methods are always evolving. Therefore, if you’re not changing things and moving with the trend, you will get left behind and if you haven’t changed anything, or tested anything in the last 6 months, it’s about time you do…

Solution

The best way to do this is to ask your employees or ask your customers what they like and they don’t like or what they would change about the business.
Ask about ways to be more efficient, the things that they would change. Once you start getting a list of ideas together, you can pick the best ways and start testing and changing. However, before you implement something to make standard procedures, you should always test it. What may look like a great idea, may not be so great once put into practice. But what doesn’t seem like a great idea could end up being a winner, so the only way to do this is to really just test it, and then find out what works.
Try to understand and listen to your customers they are keeping you in business. Hence, make sure that they are happy. If there are things that they don’t like, change them.

Marketing And The Dynamics of Competition

Introduction

Marketing in the 21st century is not like it was in the ‘60s, ‘70s and even the ‘80s. This is because there are enough products to satisfy customer’s needs.  In fact, customers are “very satisfied”!  Companies have segmented the market until it has become almost too small to service profitably. Companies have refined the dynamics of competition so well that customers have a large variety of choice.

A group of people around a laptop discussing marketing

Giant corporations such as Wal-Mart, Costco, Woolworths, and Coles control most of the distribution. There are a lot more brands and fewer producers. Products “life” has been shortened and in most cases it’s cheaper to replace than to repair, complicating the process even further.

Customer or Product?

In marketing, the needs of the customer were always the first principle. However, today many companies are changing and are now focusing on the actual product. These companies are focusing on what category it falls into, and then what sub-category (e.g. ice cream and then what flavours). They concentrate on the product first then focus on who will use the product, and those considered “not using” are deleted from the sequence. Therefore, by following this concept, companies give their competitors a target market.

This system may capture 75% of the “user market” because it has a USP (Unique Selling Position) i.e.; more flavours, more colours, more convenient packaging, longer shelf life, etc, etc.  However, why can’t the other 25% be taken care of instead of leaving to the competitor?

Capturing the other 25% can be achieved by using “Lateral Marketing” and this is where the dynamics of competition are used to the full. . . . . Companies should stop thinking about how to retain the 75% in love with the product (i.e. Vertical Marketing), but think about drawing in the other 25% of the market and make them your customers. This is can be done by thinking out of the square. Although it may be seen as further “dividing” the market-place, in actual fact it’s making it bigger.

Example: Let’s imagine your company sells hand cream. It has captured 75% of the market because of some formulator development that makes the hands feel smooth and uses less product. The other 25% that your competition is trying to take would rather spend less for soap, then use less. Therefore, to capture the other 25% is to start thinking “innovation” and not to produce a different or variant product.

Lateral Marketing

The objective is to use Lateral Marketing to work within the original category of the product complementing it and not competing with it. One could come up with a particular hand cream that has more lanolin, absorbs better into the skin, a nice fragrance or has more natural ingredients. It can be innovated by size, like selling in large economy bottles and/or selling in tubes and without ever changing the formula of the product. This kind of marketing works better for mature markets (i.e. the ones with no growth), after all, what new uses can one come up with, for hand cream. This method can also create markets from start. However, it requires greater resources and may redefine one’s company mission and business focus.

This way of thinking in marketing doesn’t create “new” categories, it always occurs “within” the category where the idea originated.  If the company followed the right procedures, it would have gathered the 25% of customers. These are customers might have gone away to another competitor. It didn’t require a lot of overheads and this company still producing hand cream!

Good Companies Grow, No Matter The Market Conditions

Introduction

Good companies grow and every single business demands growth and double-digit growth is the vision of every dedicated business owner, even when uninspiring results show up at the end of the quarter.

Most business owners need a funnel to navigate their way toward considerable, sustainable growth.  It can be done even in a slow economy as demonstrated by such companies as Harley Davidson, Starbucks, and WalMart.  Even smaller companies such as Paychex and Oshkosh Truck have been able to make gains in revenue, gross profits and net profits.

Here are 5 simple techniques that show how good companies grow:

1. Hold On To Your Customer Base:  Keep the growth that you have already earned by coaxing customers into complex relationships that make it a hassle for them to switch to your competitor.  Modify your products/services using data gathered from your customers giving you an advantage.  Proactively managing customer defections will help you predict and anticipate them. Bonding with customers wherever sentiment is tied to an interaction is another great way to retain them.

2. Gain Market Share At The Expense Of Your Rivals: Give customers a reason to abandon a competitor’s product/service for yours.  Do what it takes to lower the switching costs.  Pulling customers away from a competitor can be difficult, so you must devote many resources to raiding their customer base.  Offering higher value and quality are crucial to this end.  Buying a competitor is another way to do this, but costly in the short term.

3. Take Advantage Of Market Position:  Illustrate where growth is going to happen by spotting it early.  This can be done by watching the industry for shifts in buying criteria, product or service innovations, and population trends.  You must be able to spot positioning opportunities to make the most of them by continually using a systematic approach to the process.

4. Occupy Adjacent Markets: Before moving into a nearby market, decide whether it offers significant long-term growth and profitability.  Determine whether you have an advantage over a competitor, and ensure you can match its standards of quality and value.

5. Invest In New Lines of Business:  If you take this approach, never overpay for a new line.  You must find simple strategies instead of complex ones, and partner with the new business by assessing its leadership team and balance sheet.

Conclusion

For a business to have a successful growth portfolio, may not need all five of the disciplines mentioned above, but it must contain more than one for the company’s growth.  Only a balanced growth portfolio can keep an organization growing when the market shifts dramatically. This is how good companies grow.

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