To succeed in today’s competitive business environment, more and more small businesses are prioritizing marketing, new research finds.
In a recent study from email marketing provider Constant Contact, more than 70 percent of small business leaders said external forces, such as the economy and increased competition, have forced them to become better marketers.
In addition, most of the small businesses in the study have become more active marketers. The research revealed that 68 percent of the small businesses surveyed are marketing more today than they did two years ago.
However, just because small businesses are spending more time marketing, that doesn’t mean they are spending more money on it. Just 34 percent of the businesses surveyed are planning to increase the amount of money they allocate to marketing.
Although the majority of those surveyed said their main marketing tactics today are word of mouth, email and websites, many have an eye on what the future of small business marketing may look like. More than half of those surveyed said streaming video is an emerging trend they think will play the biggest role in how they market
The decision to rebrand your company can have a profound effect on your existing customer base. Newer startups that make their pivot early on likely don’t have much of a “legacy” to hold on to, but for an established company with a strong following, changing a key element of your brand may come as a shock to your core audience.
Therefore, it’s critical to consider the way your past and current customers will react to such a shift when changing something as big as your product offerings, logo or name. Failure to do so could lead to a drop in your brand’s recognition, reputation and trust among the people who know and love your company.
“One of the challenges [of rebranding] is maintaining value,” said Tom Kanewske, senior director of business development at vehicle software company Derive Systems. “[It may] leave customers feeling as if their loyalty has been trampled on.”
Whether your rebranding is already underway or you’re still in the planning stages, you’ll need to have a solid marketing strategy to address this challenge. Marketing experts at companies that have undergone significant rebrands shared some tips
Since the launch of the augmented-reality game Pokémon Go, there’s been a lot of buzz about how small businesses can use the game to their advantage. Now, after more than a month since Pokémon Go first launched in the U.S., market research shows that the hype is real: Pokémon Go really is bringing in more customers and boosting sales for many small businesses.
The first survey that demonstrates the bump given to businesses by Pokémon trainers comes from Revel Systems, which builds mobile point-of-sale systems for iPads. The data Revel collected comes from the company’s clients that have PokéStops nearby, and it demonstrates an increase in foot traffic, gross sales and total customers. Here’s what Revel found:
- Eighty-two percent of businesses with nearby PokéStops reported an average 9 percent increase in weekly foot traffic.
- Sixty-three percent of businesses with nearby PokéStops increased their weekly sales by an average of 12 percent.
- The average increase in weekly gross sales totaled more than $2,000 per business.
- Those businesses also reported an average increase of 265 weekly customers.
The mantra “gotta catch ’em all” has helped small business owners capture more customers and
The modern age that we live in today is very fascinating. The constant desire to evolve, has led us to a time, where technology is the driving force behind our development. We try to make our lives as easy as possible, so we continuously strive for solutions to everyday problems.
So naturally, it is only common sense, that for anyone interested in making money nowadays, they need to stay ahead of the curve. The more creative and innovative your ideas are, the more rewards you get to reap later. Predicting business trends of the future can sometimes be an arduous task. But, if you can be among the first to meet the demand of a certain product or service that is on the rise, you can become very successful.
With the rapid development of technology, businesses in the future will most likely turn to the internet completely, in order to be more productive, and meet the needs of the growing market. With the proliferation of smart phones, consumers will be able to buy and pay for anything they wish, with just a touch of their fingertip. With that in mind, online retail stores are definitely a business that is bound to flourish
If you are a small business owner, you may spend a lot of time thinking about how to run a small business effectively. Here are some important things to keep in mind as you ponder how to run a small business effectively.
Analyze Your Business Frequently
Step back and analyze your business regularly and be honest with yourself about what is working and what is not working. Try to emphasize the things that your business does well and improve those that it does not, while also looking for new ways to improve on your processes wherever possible.
For example, if your business does a great job with local customers but struggles to find and service those who are farther away, reexamine your strategy and decide if those more distant customers are worth the costs involved in improving your services to them.
If they are, invest in re-engineering your processes to improve your services for them. If not, consider whether you should focus entirely on your local market at this time and expand to other areas at a later date.
You know how to dream, or you probably wouldn’t have started your business. Its important to continue being creative about your business and coming up
Any path is only a path and there is no affront to oneself or to others, in dropping it if that is what your heart tells you.” Carlos Castaneda
Hobbies are those interests we pursue, and those passions we find along lifes path. Sometimes its a lifelong interest. Other times, its something we stumble across and begin to explore or develop, or something a friend or acquaintance introduces to us. But what happens when breeding goldfish suddenly becomes more than a hobby, when you become known as a source of quality goldfish for other goldfish aficionados? Then youv’e reached that point in the road where hobby meets business.
When you are able to make money while doing your hobby something you love, are interested in, have expertise in its a good indication that maybe youv’e found yourself a business.
What are some things you should consider first? Is it a good idea to turn every hobby into a business? What if you love building furniture, and people say theyre willing to pay you to do it, but you think you might get sick of it if it becomes mere work, a day to day job? The key is to carefully consider doing this
A business owners exit is a once-in-a-lifetime transformation. Were not talking about selling a house or a car. This is a complex process that requires the technical expertise of a team of trusted advisors. The key to any successful business exit is planning. It must begin with personal reflection on the part of the owner regarding what he or she wants out of the business exit. Only then can the owner, along with his advisors, design an appropriate exit strategy. The five (5) planning steps outlined in this article are designed to help business owners define their personal goals, understand all the transfer options and work with an advisory team to execute a successful business exit plan.
Step 1: Define the Personal Goals of the Owner
Since personal goals intertwine so closely with the daily existence of a private business owner, it only makes sense to begin with the basic albeit crucial question, What do I want to accomplish with my business exit? The answer seems obvious–make the most money after taxes and fees. Often, however, it isn’t this simple. Owners have nourished and raised their businesses from infancy; they typically care a lot about who will take the reigns. Family members
When beginning your online business you should utilize all the help you may get, and the federal government is usually a great supply for assistance. You could surprise in what ways can they allow you to get started. Listed here are three areas the federal government presents help in getting your new business off the ground.
You want money to start out your corporation and the government can assist you get the cash you need in ways. First option supplied could be a loan. The federal government has lots of of tens of millions of dollars in authorities funding set up for small business and entrepreneurs. There are loans created particularly for low-revenue companies, handicapped people, military veterans and more. The second possibility for funds could be one of the fifteen hundred grants which can be accessible via fifty- authorities agencies. The grants are separated and grouped by state and business category. Such classes embrace but will not be restricted to agriculture, general enterprise and real estate. You can too discover grant money for analysis and development of your business. Many of those grants start at five thousand dollars and can finish in the six figures. Best of all these shouldn’t
Working at home is too good to be true for many of us but the idea of generating additional income while working from home is not impossible. Even though there are reputable home-based businesses out there, most require a lot of upfront capital or the ability to store goods in the home which can be troublesome. If you are organized and systematic in how you approach work, one enterprise to consider is starting a tax training and preparation business out of your own home.
Being a certified professional tax preparer is simpler than you think and puts you in a position to bring in up to $100 each hour preparing clients tax returns. From March 1st to April 15th generally during tax season, a certified professional tax preparer in a forty five day period can certainly make as much at $7,500 which is excellent. Dependent on how well you ultimately do and if you’re able to expand, through the years that income could increase to around $30,000 by the third year alone. While reports differ, you could potentially make in excess of $100,000 if you go about it in the right manner.
Considering that tax season is only a few months every
Most of us know someone working in corporate America. The sad fact is, being a corporate employee in today’s economy is a risky venture. We continually hear of companies who are either down sizing or sending jobs overseas. For the corporate employee, it’s a fearful situation not knowing how long your job is going to last.
Most people see corporate down sizing as a bad thing. Even though I don’t see layoffs as a good thing, I believe it will have a positive affect on the lives of many former corporate employees, the American economy and the home business market.
Let’s look back at some recent American history. This country was originally built, by the small business owner – the work at home business owner. Think about it – in the early days, farmers and ranchers worked their business earning their lively hood from home. Shop keepers, hotel owners, saloon owners, black smiths – these were not corporate run businesses, but family owned businesses.
In the early 1900’s there was a shift in American business. Through American ingenuity, visionaries found better and easier ways to complete work tasks. A great milestone was marked when Henry Ford created the production line to mass produce