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
In the hospitality industry, regardless of your price and how many stars your business has to make a positive impression on customers. Part of hospitality business management is training your staff to carry out those special touches that make staying in your venue feel unique.
Match tone to atmosphere
Standards of service have gotten a lot more casual, but different environments still have different expectations. In resort management, if you have a fancy and expensive spa at the heart of the guest experience, you will want a mix of restful and respectful. On the other hand a western style ranch is going to encourage a more open attitude, so make sure staff doesn’t forget their bright and friendly smiles and Yall’s
Think responsive and customized
The best thing you can do for guests is remember their individual preferences. Your secret weapon is your hospitality database, tracking their names, likes and dislikes, as well as how frequently they stay with your establishment. If you’re part of a larger chain, you can even find out where else they’ve stayed. After all, nothing beats a Welcome back! to remind guests they should stay with you often, and you’ll blow visitors away when you remember little things like
We know that taxation has got many advantages: they form the source of government revenue, they act as a tool to redistribute income, reduce inflation among many others. However, do you know that taxation also has its own limitations?
Well, issues of taxation are not just a preserve of the politicians. And complaining about high taxation is not just meant for the “selfish capitalist who doesn’t want to share.” There are many negative impacts of taxation in the economy, and that is why taxing business and individuals too much can easily lead to a decline in productivity.
It May Discourage Hard Work
In an effort to redistribute income from the rich to the poor, the government might find itself discouraging people from working hard to become rich, since with increase in income, the greater will be the increase in taxation.
For example, if someone knows that beyond a certain level of income, he will pay the government an extra 50 cents for every extra dollar he earns, he may be discouraged from becoming more enterprising. In the long run, this will reduce the productivity of the whole economy.
May Discourage Saving Habits
Since direct tax falls on income and not consumption, individuals may be penalized for
Let me tell you straight, you cannot be a successful business person if you don’t have good business habits. Below I have listed a few habits that you should be doing if you wanted to be a successful business person!
1.) Are you committed to every business you have?
Opening a business is easy but maintaining its operation will take a lot of you time. Will you be available in creating marketing plans and promotional materials? Business without marketing plans is suicide. Once you start a business, put every attention to it. Don’t let your employees manage it. Take note of this, you are the only person who has vision for its success so its only you who can make it
2.) Are you continuously searching for opportunities?
Business people don’t just stick on 1 or 2 business. A business person always searches for more business opportunities. They are not mediocre. They don’t want stable business but rather a growing one. Always search for new ideas to pursue.. A business person has a vision for numerous income streams for profits!
3.) Do you think positive about you business?
A business person don’t pursue a business to which he/she doesn’t feel positive about. Once you start
Working from home is a dream shared by many people. Starting a home business is not a daydream endeavor, though – not if the business is going to be successful. Thoughtful planning and advance work are necessities for starting a good home business. This article shares a few tips that may help prospective home business owners plan their home business strategy.
To stay away from tax sticker shock, take the time to pay your taxes on a quarterly basis. You can do this by filing estimated taxes with the IRS. Otherwise you may be in for a very big bill come tax time. To learn more on estimated taxes and how to file, visit the IRS website.
When running a home business it is best to join a small business association. It is a great way to network your business as well as get tips on effective ways to manage your business. Another great aspect is that you can hear the mistakes others made and not make them yourself.
If your home office has enough room, create a portion of it as a separate sitting area with a couch or lounge chair. When the work you need to do does not involve the
It makes sense to buy gas station businesses for an investment that will do well even when the economy is struggling. People in America will stop the spending on most budget items before they quit buying fuel for their cars.
And the connection with a companion business, such as a car wash or convenience store, can return substantial profits to the entrepreneur with a ‘buy gas station business’ strategy. No special knowledge beyond basic business competency is needed to run it efficiently.
There are risks, however, particular to this kind of business, which a prospective buyer must understand. Understanding those risks and how to avoid them can help the entrepreneur enjoy success with a sound gas station buy.
1. Ground contamination is common among petroleum retailers who haven’t upgraded to newer, leak-proof storage tanks. Most communities enforce environmental regulations for gas stations. Any business with petroleum leakage will be force to close down so contaminated soil can be removed and storage facilities improved. Finally, a new station is built on the site. What a problem for a new station owner!Anyone seeking to buy gas station business opportunities is advised to insist that any purchase agreement require testing of soil samples, and that results
Are there easy legitimate ways to make money online? This is the obvious question everyone wants to know. You’ve probably had a few friends who started their own business online. The truth is that they probably didn’t make a lot of money, if any.
Anyone can start an online business, but actually making money is a completely different story. An online business is like any old business and any old business takes time and effort to make money. It also takes the right attitude. You need to have a positive outlook, but you shouldn’t think that the work will get done on its own. So if your’e willing to commit, keep reading.
There are three important steps in starting an online business. They are as follows:
1)Position yourself in a Profitable Area Online. Find a profitable niche. Find the people who spend money already. For example, the health market- diet, weight loss, vitamin supplements, medical issues, headache relief, energy. The wealth market working from home, business opportunities, internet marketing, public domain, starting your own business. The lifestyle market personal development, pets, self-improvement, online study courses, computers, going green.
2)Build a List of People in this Area. Create a one page website. This can be
Business process mapping defines each business process in simple steps from start to finish. Since its introduction in 1921, process mapping has evolved to become multi-dimensional, assisting organizations to achieve various business goals such as regulatory compliance, process re-engineering, simulation and activity analysis. Moreover, ISO 9001 requires an organization to follow a process approach for business management; process mapping works well to comply with these requirements.
Ideally every process in an organization should be mapped to deliver better results and enhance team ownership. To be specific, there are mainly three types of business processes that must be mapped for clear understanding and effective communication throughout the business:
Management processes -the processes that govern the operation of a system such as Corporate Governance and Strategic Management
Operational processes – the processes that constitute the core business such as purchasing, manufacturing, marketing and sales
Supporting processes – the processes that support the core processes; typical support processes include accounting, recruitment and technical support
Why is Business Process Mapping Good for Your Business?
Business process mapping allows every business to structure its components and align its actions to achieve a common organization goal. No matter which department/organization you are from, process mapping can be used for your own purpose