7 Business Growth W.O.W. Tactics for Increased Market Share
If you think that your startup is the next big thing, don't matter how small it is, but it’s not going to be easy. You might find yourself staring at a wall of numbers and rows of figures with no idea on where to start. No need to fret! Here are 7 business growth W.O.W. tactics for increased market share.
1. Adopt a branding strategy.
Startups are new, but they already have an established brand. You might be thinking that branding is not necessary, but it’s an investment you should make if you want to survive as a startup. Avoid creating a brand that is too generic and appealing to everyone. No one wants to associate themselves with a generic brand. You will have better success if you create a unique brand that naturally attracts your target market instead of simply trying to appeal everyone out there.
2. Create the perfect product for your customers and present it in the best way possible by finding the right tool (software) and company behind it.
"People don't really care about what you do, they care about how you do it." - Scott Belsky
It's okay if you want to create something great for your customers, but always think about the quality of the product first. The most successful startups know that generating revenue is only a means to an end; providing great products that people love is what truly matters. One thing is certain; always make sure that your product will continuously evolve and improve itself as time goes by. In today's competitive world, it's best if you can deliver new features and improvements in a timely manner.
3. Go after the right type of customers.
It’s not necessary that you have to always focus on the "cool" startups, but there are certain things that you need to do before you can gain the attention of potential customers. You might start by identifying your market and target potential customers who share similar needs or wants as your company. Once you have identified their needs and wants, then you can strategically market your product to them through countless different marketing channels (online advertisements, social media sites, email marketing campaigns, blog posts, etc.). Furthermore, it’s also important for a startup to research about the products customers are already buying and determine if they can be a viable substitute for what you offer.
4. Go public.
If you're operating on a fast-paced, growing startup, then it's time to take on the public. Don't worry, you don't have to worry about going through the same time-consuming process as big companies have done. A better way of going public is by creating a "launch event." You will be surprised that this launch event can really skyrocket your business. Why? It's because it eliminates the idea of building up to a product launch in secret which helps cut costs and saves time.
5. Create your personal website and professional blog.
In today's digital world, startups have to be online especially if they want to grow their product/service into something remarkable in the future. It's not a must to have your own website, but it is necessary if you want a safe and reliable way to reach potential customers. Don't forget to create an active blog that will be updated consistently with current business news, industry trends, and product updates. Blogs are also essential when you want to establish yourself in the online community and develop a name for yourself that people can trust.
6. Create a presence on YouTube.
If you want more than just online customers, then you need to develop yourself into an online celebrity of sorts who attracts large numbers of viewers on a regular basis. There are many ways to do this including creating videos with your products or creating educational videos that help in educating potential buyers of your products. One thing is for certain; on a video sharing site like YouTube, you will have a better chance of being noticed by hundreds or even thousands of customers and future business prospects.
7. Compete!
If you’re afraid that your competitors are going to take over and leave you behind, then you need to learn how to compete or at least find a way to stand out from them. You can do this by focusing more on the quality of your product instead of going after quantity. Don't be afraid to ask for referrals and testimonials from people who already own your product/service which will help promote your product in the long run.
These are just some of the 7 business growth W.O.W. tactics for increased market share. All of these tactics can work for you if you want your business to grow and flourish. Keep in mind that even if your startup is small, it’s never too late to take steps towards increasing your market share.
Make sure that you read this article thoroughly and remember the 7 business growth W.O.W. tactics for increased market share because they can definitely help you in the long run!
The ABC's of marketing: Who didn't hear about it?! When I was a teenager, I'm pretty sure that every teenager has heard of the term "marketing". It's a huge buzz word nowadays and I'm sure many of you have already heard about it.
Here is a simplified explanation of what marketing is exactly:
Marketing is the process that companies use to determine who their customers are, what type of customers they are, where they are located and what they need. Marketers can be a company’s employees or vendors that work for another company so long as the purpose is to sell the public something useful (goods or services) and the marketer has more than enough knowledge about that particular product/service from personal experience.
Basically, marketing is the way to attract customers and keep them coming back. There are several strategies that a company can use to attract the attention of potential customers and marketing is just one of them. Most reputable companies have a marketing department that uses several different strategies to sell their product/service and create an image for themselves. These are just some of the most popular methods used:
1. Direct Marketing - This type of marketing is pretty much obvious because every business has their own website, email address, brochures and other promotional material that's designed in order to get new customers.
2. Public Relations - This involves getting media attention in order to inform people about your business/company.
3. Social Media Marketing - This is the process in which businesses use sites like Facebook, Twitter, Instagram, etc. to gain more customers by posting updates and pictures that attract the attention of relevant target markets.
4. Public Display - Businesses use their services or goods as a form of an advertisement for all people to see. For example, stores display their goods in their windows or on poles outside so everyone passing by can see whatever it is that they want to sell.
5.
Conclusion
"I think that customers really should have the ability to influence their choices. I think in this day and age, there's almost too much consolidation in the industry, and I think it's time to open it up again. It's time to bring back the individual customer."
— Sandra Loth, Vice President of Marketing, Whistle Blower Network
Despite being a very small business, as compared to large corporations such as Amazon or Wal-Mart, Whistleblower Network is a digital marketing agency that works through social media for its clients. The company believes that consumers should be able to communicate with businesses directly instead of having a middle man who dictates how and what they want.