Starting a business needs a lot of effort and perseverance,you have to make sure that you are using your money on the right way. To avoid hassle and financial problems here are some of the basic marketing tips to start with.
Study the Crowd
Understanding your customer is the most important part of starting a business. It is where the idea should begin. Gathering data from the customers would give you tips on how to be an effective salesman. With all the knowledge in hand, formulate your marketing plan from the collected information. This will aid you in making major business decisions in the future.
Creating a Customer-based Product
With your marketing plan stable, you have to set your product or services in line with customer’s need. Design your product according to the customers demand, and see to it that the product is presented properly. Take note that your success is based on your target market’s reaction to your product. Focus on how you would sell it in a way they would appreciate.
Examine the Market
Study the present business trend and the customers around it. Put in mind that it is not only you who owns a business, there are many competitors around you. Observe the economic status and customer’s behavior in spending for how they react to a certain product (pricing, store representation, packaging, etc.) will give you an idea of what to put in your store or how to present your business.
A Team with One Goal
In a team there should be coordination and balance. Your staff is one of your important resources because behind a successful business are people who cares about their job and your investments. Make them understand why it is important for them to put needed effort on their duties, give them a view of what they need to know about their roles in your business, and explain to them fully what it is for them when all their efforts would bear success.
In making a business successful, you have to make sure you deliver products or services as efficient as you can. Make it smoothly done from greeting a customer, attending to their needs and suggestions, keeping them updated of your innovations. One of the most important tasks is to be sensitive on client’s complaints and see to it that you take action.
Be Known to Your Target Market
Using a modern marketing strategy, make yourself visible to everyone. You need to do something unusual to be noticed. Outline the things that you want your customers to know about your product. Brainstorm ideas on how you could reach out to your customers, you could use common advertising strategy or modernize schemes. Be sure that you laid your message clear enough for the customers to understand.
Make Your Business Appealing
To gain trust from customers, make your shop reliable and appealing. A customer will always have their first impressions of your place and it may change as time goes by so make sure that you have everything organized and kept updated. Give a comfortable ambiance to those who comes into your establishment so they could feel at ease with you and your services.
Customer Service at Its Best
It may sound sarcastic at times, but listening to every customer complaint would help you develop your business. Responding to all complains and listening to their comments and suggestions will help you gain customers trust and would be a good basis for improvements. Consumers will feel at ease availing your product because they know that you are paying attention to what they need and to any problems they may encounter with your product and services.
The Price Tag
Setting a price on your product or services is not just putting any amount you want, you have to consider the capital, your target market’s funds, and the customer view regarding prices of products same as yours. Don’t over price your product. Don’t set it higher than the available market value because customers might feel that they are not getting much of what they paid for.
If you set your prices higher, your customers would think that you are selling premium products and you should make sure that your products/services are of quality complimenting your declared value. If prices are lower, you could lead the market in a budget bonanza but may appear short term. Setting the price is the crucial part because it ensures the customers of what they would expect from you, and in a way, your prices could determine your business sales growth through your income.
Look Back and Keep Improving
After everything has been settled and organized, put it on a diary or soft copies for documentation. Write down all the information of the company from policies up to the latest update. This will make sure that everything is being monitored and employees will understand where the company is heading. Consider this as one of the most important sources when formulating future marketing strategies.
There is power in a monopoly. Being sole distributor of a certain product, service or to a certain group ensures a strong and solid base for any business. It’s no wonder why smaller businesses always either try to target larger groups when they want to expand, and smaller groups when wishing to entrench themselves within a certain market.
The ebb and flow of online trends can give us an idea of how capricious online marketing can be, with its constantly shifting website visibility and user communities. One of the best ideas garnered from the chaos of online trend-setting is the marketability of certain groups that form around persons, places or things.
An example of this would be the marketability of products and merchandise pandering to consumers of popular YouTube videos such as Pewdiepie and others. Another one is the huge surge in sales of Hasbro’s My Little Pony product line due to a newfound popularity online amongst adult male fans.
What sets these types of consumers from others is their consistency and inherent predilections towards a form of brand loyalty. There is a community factor at play here where consumers reward a business for prolonged patronage.
One does not have to look far for opportunities in acquiring a select market for a good or service. The explosion in user-created content online is ripe for an enterprising business owner if he knows where to look. From art sites where people post their art to specialized sites like the ones that handle the shipping of certain goods.
A more specific example of a group that has shown all of the before mentioned traits of brand loyalty and patronage would be table-top hobbyists who have moved on to online retail in the acquisition of their games and other paraphernalia. Lessons are garnered from this specific group of customers in that they show a strong consumer base that regularly spends large amounts of money to purchase constantly changing product lines online.
New cards, board games, books and other such “gaming” products usually change with time yet, barring and large scale negative feedback to a bad product, the demand remains constant and keeps the small number of companies that provide said products afloat and thriving even in a congested online market place.
The only drawback to this type of markets is that the potentiality for growth is a bit stifled, what with the same stability that is sensibly a defense against sudden crashes also serving to prevent skyrocketing booms. It can be argued that the lack of growth is mitigated by the fact that risk is reduced to a more comfortable level as an offset.
After deciding on a market one wants to focus on and provide for, the next big hurdle is advertising, but never worry for niche markets tend to already have this one covered for any young entrepreneur.
A close-knit group of online users usually ensures the prominence of a specific product provider amongst their circle due to either word of mouth alone or successful low-cost advertising campaigns aimed at smaller number of highly visible individuals within a community.
In conclusion, the niche markets are a veritable spawning ground of business opportunities for people willing to appeal to equally niche tastes. It may not over large short-term rewards like more general markets but it offer a long-term pay-off if successfully penetrated.…
The following article appeared in Buildings magazine in January 1998
Tenants don’t just want plug-and-play computers. They want
From Silicon Valley to Silicon Alley, building owners and managers are
increasingly making smart money by marketing “smart” buildings.
What’s a smart building? Depends on who you ask.
It’s the latest version of the old mousetrap: “Build a smarter
building, and tenants will beat a path to your door.” The trouble is,
given current trends in buildings technologies, only one path is certain:
The future is user-defined.
Forget the cyberhype and the technobabble, but always remember the
customer. Only a potential tenant can define what “smart” means and
they’ll spell it out on a check.
The smartest building is the one that’s 100-percent leased.
Technology is both an asset and an amenity. Today’s businesses thrive
on information. The tools used to access, store, retrieve, manipulate, and
communicate information are critical assets no matter whether the
tenant is a doctor, lawyer, or Internet service provider.
To building managers, providing tenants with an infostructure offers
the ultimate marketing opportunity. Technology will attract tenants.
Offering the right technologies, however, will retain tenants first, by
keeping them in business; second, by growing with their needs.
Build gateways, not monuments. In the past, buildings have been
fortresses, shelters, addresses on a map. Today, buildings are gateways to
a larger, electronic world. Tenants want no-fuss, no-muss access for their
technological tools. From the tenant’s perspective, connecting a business
to the Internet, for example, should be as plug-and-play as turning on the
lights, talking on the phone, and breathing the air.
Building managers make that magic happen.
Image is as important as the Internet. Myth or reality, the idea that
flannel-clad guys and gals can launch a multi-million-dollar enterprise
from bargain-basement beginnings is remarkably compelling.
Don’t start building office furniture out of milk crates, however. Even
business upstarts require an image of success, particularly when investors
Don’t front-load or overload. As one wag puts it, “Any building can be
a smart building, if you pull enough wire.” Costly upgrades and the
“latest technology” might not be necessary for every application, however.
Better to identify market needs, or real tenant requirements, before
investing too much in a given property.
Another strategy is to partner with a third-party service provider. At
no cost to building owners, third-party providers can install systems such
as fiber-optic backbones, in exchange for exclusive rights to provide
service to tenants.
OnSite Access ( www.osaccess.net), New York City, for example, wires
buildings for high-speed voice and data. Building owners receive a
percentage of telecommunications revenues, and, according to the company,
gain more control over risers and conduits. Tenants plug into high-speed
and direct Internet access, and save on local and long-distance telephone
Recent projects include the 170,000-square-foot 1 Silicon Alley, a
modernized and remarketed 90 William Street.
Similarly, UltraNet (www.ultranet.com),
Marlborough, MA, installs a black box in a building’s basement to provide
high-speed Internet access. Building owners and tenants are billed on
usage, are supported by Ultranet’s 24-hour technical staff, and incur no
hardware costs for the “InterSmart” system.
Recent Ultranet projects include the Boston Technology Center, a
five-story office structure touted as a technology showpiece for
attracting Internet-dependent tenants.
Look smart, be smart, stay smart. For a price, buildings can be
automated, spindled, and mutilated into overwrought visions of the future.
Real building tenants, however, will be more impressed with nuts-and-bolts
tools than gee-whiz technologies.
A smart building may “know what the tenant wants,” but a smart building
manager will figure it out first.
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Do you want to become as successful as warren Buffet?
Warren Buffet is one of the wealthiest elites in the world. He is an American business magnate, investor, and philanthropist. He is indeed one of the most successful businessmen in the world. He is the second wealthiest person in the United States, and the fourth wealthiest in the world. His net worth is worth $81.1 billion.
How does Warren Buffet handle all his businesses? What are his secrets to his success?
If you want to know Warren Buffet’s secrets to success, check out this list below:
Once you start making money, do not spend it on non-business related things. Instead, use your profit to invest in other businesses. Don’t get tempted to spend it on fancy things.
Stop following, start leading. You need to learn how to innovate business.
- Describe Success
People have different meanings of success. You should know your own definition of success. Once you already know what you want, then success surely in your reach.