Archive for January, 2015

Why there is a need to shift business plans occasionally

Tuesday, 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

Monday, 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 so you might want to get youtube dislikes. 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

Tuesday, 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.