Data Mining

March 16th, 2015

Vast amounts of customer-, market- and business critical data are stored on servers of companies. Data mining is the solution to gain the highest values out of this information available. Data mining means the scanning and analysing of data to determine its value for the business. This could be around production, or sales and marketing information that can be utilized to the companies’ advantage in many different ways.
They help for example with:

 

  • Defining customer profiles
  • Market segmentation
  • Market predictions
  • Product placement
  • Network analysis
  • Optimisation of prices
  • Etc.

 

But how can this information benefit my business process? Basically it can contribute to helping you with your decision making processes and providing insight. Among other benefits data mining can help you better understand your target group, to analyse their purchasing behaviour and to identify patterns. This way marketing can be adapted and become more focused. For example, by analysing your data you can ascertain which products are most likely to be purchased together as a bundle. With this knowledge you can make sure that these products are placed closer together. Besides, you can also filter out which factors are impact customer loyalty, what clients are looking for, and their reaction to it. In summary, data mining helps with understanding and identifying patterns and expectations and to adjust accordingly.

 

The advantages of data mining for businesses are various. It helps, for example with personalizing your marketing to clients. By understanding your customers behaviours you will be better able to address them.. The early on identification of trends helps you stay competitive and information about behaviour patterns will continue to help you with your daily and future decision making.

 

Data mining is becoming increasingly important with the Internet, which means it will take on a larger and larger role going forward in a company’s success.

 

Marketing in B.C. – what’s hot and what’s not?

March 5th, 2015

What is it that companies in B.C. are missing out on in their marketing? Where are the possibilities for improvement? There is no doubt that identifying the target market is key to successful marketing. In addition, the utilization of data as well as an exceptional customer experience further add to a company’s winning marketing strategy.

An article in Business in Vancouver reveals what companies in BC are missing out on in their marketing. Read more…

 

Advice on marketing your business story

February 24th, 2015

Marketing of most businesses concentrates on the promotion of products and services. Corporate design, web presence, folder, etc. should be distinctive and emphasize the uniqueness of a company. In fact, many of them do not think about the most unique of their business – their business story. Large companies and groups have already encountered it and promote their story in order to become more tangible. To be perceived as a person not as faceless company, is exactly the right way to stay in your customer’s mind.

 

Share your first steps as an entrepreneur. What has encouraged you to start a business? What inspires you? Give your customer an understanding about your values, your beliefs and the quality that distinguishes you. Build up trust in your team; trust in your company, your reliability, and the quality behind your products and services.

 

Talk about your successes. Show how you helped customers with their projects and how you even led demanding projects to success. Convey the impression that you are able to deal with challenges and that your customers can rely on you. Show that you care about them, that their benefits are of your utmost concern.

 

However, avoid exaggeration! To the contrary, also mention the failure and setbacks you experienced in the course of time. Failure belongs to entrepreneurship. To share them shows personality – to leave them out makes you implausible.

 

Furthermore, highlight your goals and vision. Let your customers take part in your plans. Businesses, which constantly develop and work on themselves show that they do not fear challenges and always strive to do their best.

 

Do not make the mistake to just talk about your products and services. Your clients want to hear YOUR story. Also, avoid too much technical jargon, which rather appears arrogant than competent.

 

The sharing of your personal business story gives you a distinguishing character. It brings your customers closer to your company and connects you “emotionally” with them.

 

How to budget for seasonality in business

February 11th, 2015

Seasonal ups and downs are unavoidable in business. This concerns nearly every business but especially the tourism industry, like hotels, amusement parks, etc., even certain other industries like construction, horticulture and retail, for example Christmas shops. But what can you as business owner do to hedge these downtimes? Fix costs like rent, taxes or maintenances are due despite everything, so you have to consider whether to keep your business open or you can afford to close during the off-season.

 

To be able to budget exactly, you have to know about your businesses income and expenses and be able to create a monthly cash flow. Estimate your expected monthly income and determine your most profitable month. Calculate your fix costs and find out which costs you can reduce. With this information you will be able to create a report and set your budget, which should be supervised regularly.

 

Your revenue from the busy season should be your reserve for the low season, to cover costs which may arise and start the next season without debt.

 

Besides, find possibilities to reduce costs, for example by engaging seasonal employees instead of full-time employees. This way you can save not only salaries but reduce taxes as well. Furthermore reduce your inventory, because a large inventory is associated with higher costs Through your customer’s purchasing patterns you can determine which items should be on hand at which time of year and provide them accordingly. Beside flexible payment terms, a good credit is helpful to overcome downtimes. Negotiate with suppliers and your bank about beneficial terms.

 

Most important of all is to use the time between your seasons to analyse how things are going and plan for the next. Also, maintain your equipment and devices to avoid failures during peak seasons. Continue to work on your marketing plan, think about improvements and start the implementation in a timely fashion to remain successful in your coming peak seasons.

 

Why there is a need to shift business plans occasionally

January 27th, 2015

Flexibility is of pivotal importance to run a successful and competitive business. Although a thorough business plan is valuable, not everything can be planned. Changes in your business also changes your plans, whether financial or strategic.

 

Competitors, target group, the market and the financial world are difficult to assess, so you will find that not everything works out according to your thoughts when you first start out. Do not stick to your plans but constantly think about possibilities to improve, from your products to your business processes. Customer requests shall set precedence for change. This is why it is always necessary to adjust your product offerings based on profitability and customer demand.

 

Furthermore, your sales channels are likely to change. Even if you first focus on direct sales, you might eventually consider alternatives. Intermediaries, online shops, etc. the ways of distributions are manifold and help to capture new markets. In this way even small businesses, which former marketed locally, now have the chance to distribute nationwide, or even internationally.

 

This leads me to talk about international business. Exchange rates affect your business, but can hardly be calculated. Working internationally means often having to deal with several currencies. Supplies are purchased from one country, equipment from another and also a part of your sales are international. This has influence on your costs and revenues and naturally also affects your plans.

 

In addition, your marketing plan has to be adapted regularly, as marketing offers continually new capabilities. Your target group changes as well. Take into consideration to stay on top of your market. Adjust your budget accordingly and your business plan should only be a guideline.

 

The joining of a new partner also brings along changes. Targets may shift, new business and financial opportunities. As the business world constantly alters, so will your competitors. Innovative ideas and a larger set of competitors can bring on new challenges if you are not open to change.

 

A business plan is useful and necessary to guide you. But in order to stay competitive in our fast moving world your business has to change and adapt constantly.

 

Online marketing tactics – tips & tricks of the trade

January 19th, 2015

From email marketing to social media, websites, search engine optimization or blogs – there are numerous ways to market your business online. The internet is one of the most cost effective ways to attract new customers and to advertise your brand. But to be successful in online marketing you have to be first and foremost diligent and dedicated!

 

Beginning with your website – an attractive design and appealing content are the first step to drawing interest and encouraging people to visit your site again. Convey the impression of value, give insights on your company and provide information your customers are looking for. Regarding your website, you should also take note of the increasing usage of mobile devices. Simplify the use of your website with mobile phone or tablets by providing a mobile version.

 

Furthermore, to ensure you reach your target group, you have to know what they are interested in, what they are looking for and with which medium you can reach them best. But no matter whether blog, e-newsletter or social media, your articles should be interesting, on-topic and posted regularly. According to studies, the use of pictures persuades more users to read your posts. If you write about topics related to your service or products provide links, to drive more traffic to your website. Arouse interest with catchy headlines. Make sure to keep them short but still expressive.

 

In addition, consider that today people often are overflowed with information, especially online. Nevertheless you want to get your customers to read your articles. The tactic hereby is to keep your information short. So called micro contents are easy and quick to read but still informative – tailored to people, who have no time to read long and wordy texts.

 

A further important aspect of online marketing is social media. Even though it can be very time consuming, to optimize your online marketing you have to take the time to set it up, complete and manage accounts in various media like LinkedIn, Twitter, Google+ or Facebook. Incomplete profiles and neglected accounts appear unprofessional. Also, make sure to insert social buttons to your website, newsletters, email signatures, etc. to encourage your customers to share your articles.

 

Deploy social media to spot your customer’s demands. Ask them directly what they are looking for, what they would like to see improved upon, etc. Maybe you can even start a regular Q&A, where you can answer your client’s questions about your product or services. Revisit these topics in your blog and provide in this way exactly the information customers are looking for.

 

Smart online marketing offers various possibilities to promote your business successfully in the internet and is a perfect way to build up trust – and trust secures customers’ loyalty.

 

Canada’s businesses missing Internet opportunities

January 13th, 2015

The missing of a web and social media presence has an impact on your business. Why is running a website crucial for your competitiveness? And how important is your visibility for customer attraction? Read more in this insightful article from Business in Vancouver.

 

December 2014 Newsletter

December 22nd, 2014

Dear Friends,

 

The year 2014 is slowly drawing to an end, so we want to take the chance to say thank you. Thank you for your trust and for giving us the possibility to help you to improve and succeed.

 

A new year is often viewed as a new start in business, as time for changes and improvement. The business world is fast moving, and so are business trends. That is why we regularly share our advice, tips and thoughts with you on our blog – for our clients, business friends and everyone who is interested in business, marketing and entrepreneurship.

 

The value of mentoring

The passing on of knowledge and supporting of the next generation is a valuable experience for the mentee as well as for the mentor. Mentoring – a way to give back to your community and a chance for your personal growth.
Read more…

 

Why the understanding of basic accounting is vital for running a successful business

An outstanding business idea is the foundation for your business; however it does not guarantee success. Being financially literate is just as important.
Read more…

 

Advice for newcomers

Considering entrepreneurship? Advice is helpful, but what is really crucial for your success? Why high expectations hinder rather than help, and why a lifelong learning is vital for your success.
Read more…

 

Help us make a better website, Reframe Marketing

A vision has taken shape. Our improved and more accessible website will soon be launched. For the final-touch we need now your feedback. What would you like to have improved? Suggestions and wishes are welcomed!
Just email them to info@reframemarketing.com
Read more…

 

Look forward to staying in touch!

 

How to effectively use social media to promote your business

December 17th, 2014

Social media has made its way into today’s business world. The majority of companies, no matter which size, use one or more social media sites for its marketing, but hardly anyone is exploiting all of its potential. To benefit from social media marketing you have to invest time and effort. Post and period is the wrong way to succeed. You have to act, by posting, following and answering questions. Shortly said – be active.

Present your company and create a lasting relationship with your customers. Social media gives you the possibility to contact your clients directly and provide unique customer service. Listen to what people say about your company or products, reply to questions or complaints and show that customer care matters in your company.

Moreover, a social media presence contributes to drive traffic to your website. Maybe you operate a corporate blog? Refer to it on your social media account. Or you are about to launch a new product or service? Arouse attention on Twitter or Facebook to get interested people to learn more about it. Keep clients up to date about upcoming events or industry related news. But with all these, keep in mind that your social media account is not just an advertising platform but foremost a communication tool. So keep your posts informative and interesting, avoid direct promotions.

Another benefit of being active in social media is the increase of your web presence. Today a single website is often not enough. To stay relevant for search engines and to get visibility a social media account is an important key to success.

To gain the highest benefit of social media, businesses have to stop seeing it as an advertising tool or as a possibility to attract leads, but as an opportunity to increase customer loyalty and to improve their image.

 

Happy Holidays!

December 8th, 2014

Reframe would like to wish all of our clients, friends and partners a very Happy Holidays and a Happy New Year! The beautiful city of Vancouver is full of holiday activities for the entire family! Below we have a list of many of the beautiful, entertaining, holiday spirited events to enjoy in the beautiful city of Vancouver!

 

The Vancouver Christmas Market is a must see event. The market runs from November 22nd to December 24th. Located at the Queen Elizabeth Theatre, this market is full of delicious foods and drinks, handmade crafts, live music and performances, and cultures from all over the world. Visit their website at http://vancouverchristmasmarket.com for more information!

 

The Festival of Lights at Van Dusen Botanical Gardens is a beautiful event that the entire family can enjoy! There are light shows throughout the night, pictures with Santa, dance performances, and varying themed areas. The Van Dusen Gardens has something that each member of your family will enjoy! Visit Vancouver’s city website at http://vancouver.ca/parks-recreation-culture/festival-of-lights.aspx for more information on the event and to purchase tickets online!

 

The Bright Nights Christmas Train located in Stanley Park is an event that the kids will love! Open from November 27th to January 7th the Christmas Train can fit into all of your busy schedules! With a train ride, hot chocolate and treats, a petting zoo, and thousands of beautiful lights to look at the entire family will love a night at Stanley Park! Visit Vancouver’s city website for more information at http://vancouver.ca/parks-recreation-culture/bright-nights-train.aspx.

 

The Royal Winnipeg Ballet will be performing the holiday favorite, The Nutcracker from December 12th to December 14th at the Queen Elizabeth Theatre. Visit http://www.ticketmaster.ca/Queen-Elizabeth-Theatre-tickets-Vancouver/venue/139293 to purchase tickets and see more concerts and shows at the Queen Elizabeth Theatre.

 

A favorite for all ages over the holidays in Vancouver is a visit to the Robson Square ice rink. Located in the heart of downtown the outdoor ice rink makes it impossible for anyone to avoid holiday cheer. The ice rink allows people of all ages to enjoy themselves during the day or a romantic night visit! The best part is… it is free! Grab your skates, friends and family and head down to Robson Street from December 1, 2014 to February 28, 2015! Visit http://www.robsonsquare.com for more information.

 

Grouse Mountain offers a wide variety of holiday activities. From sleigh rides, outdoor skating, visiting Santa’s workshop and reindeers the entire family will enjoy a beautiful night bundled up with hot chocolate! Visit their website at https://www.grousemountain.com/peak-of-christmas for more information.

 

Vancouver is the perfect city to celebrate the holidays with family and friends! These are just a few of our favourite events and shows happening this holiday season in the city.

 

We at Reframe Marketing wish you all have a very Happy Holiday season and a Happy New Year!