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Business Strategy

The Best Way To Create A Growth Strategy Plan

Ideas are fantastic, and amazing ideas are indeed greatly needed in business, but the execution of these fantastic ideas is what counts.

No big organization,firm, business or even startup attain great heights today by having great ideas rather than by strategically implementing these ideas.

Growth strategies, when done correctly, lead to more effective use of your marketing budget and more effective/impactful marketing campaigns

In this article, you will see ways to create a strategic growth plan that will upscale your business drastically for growth.

Creating a growth marketing plan will give you a trip itinerary that puts you on the most direct route to achieving brand growth

Let’s dive in fully

Growth strategy arrangement may be a long-term, key strategy that works to assist brands accomplish feasible, quantifiable growth. It may be an all encompassing and data-driven approach that leverages end-to-end pipe optimization to discover, pull in, change over, hold, and develop buyers into faithful brand advocates and evangelists.

Growth can be a moderate, difficult trudge, particularly for SaaS, fintech, and startups businesses whose deal cycles are broad. A few brands will spend noteworthy time on a single strategy, and when it doesn’t work, they discover themselves back at square one. That’s where growth strategy comes in. Once you construct a growth strategy guide, you account for the time it takes to attain your objectives — presently, tomorrow, and within the future.

The following steps should be considered in creating a strategic growth plan;

Market penetration.
This tactic’s goal is to boost sales of currently offered goods and services on active markets, which will raise your market share.

Market development.
This entails boosting sales of currently offered goods or services in untapped markets. Market expansion entails analyzing how to expand an existing market or how to sell a company’s current offer on new markets. This can be done by several client segments.

Product development.
Launching new goods or services on already-existing markets is the goal. Product development can be used to expand the offer given to current clients in an effort to boost sales.

Diversification.
This entails the introduction of fresh goods or services on untapped marketplaces. The riskiest tactic is diversification. It entails the corporation offering brand-new goods and services on a fully untapped market.

At EZAdvisory, we pride ourselves in helping companies explore strategic ways to drive growth for their businesses. To better reach more organizations we will be hosting a premium city to city Bootcamp with its first edition to take place in Ibadan City on the 6th September, 2022.

An intensive training for business to retool and restrategize their business for growth, click the link below to know more about this https://advisory.equilibriumzone.org/glautour/

Hurry as seats are filling up!

Uncategorised

Role of business operations in growing companies

A corporation engages in a wide range of business operations on a regular basis to keep it running smoothly and making money. As a result, businesses work to enhance their operations in order to achieve their goals by bringing in enough money to cover their costs and turn a profit for their owners.Business operations management is responsible for understanding the systems, equipment, people, and procedures required to run the business. 

All Things considered, the plans and methods that management and investors use to comprehend every aspect of a corporation’s operations are the foundation of successful business operations. It includes the function of personnel, required processes, and various equipment types used to enhance business strategy and increase the value of the organization. It makes it possible for managers and stakeholders to monitor project management and allot all the resources necessary to keep the business running successfully. Business operations analysis is useful for identifying inefficiencies that can prohibit achieving important goals.

What is Business Operations?

Business operations are the daily activities that businesses carry out in order to boost their enterprise value and turn a profit. 

The job of business operations management is to comprehend the systems, tools, personnel, and processes needed to run the company.

Operational components of businessee

The type of business, industry, size, and other factors all affect how a firm operates. For instance, the functions of a physical store will be different from those of an online business. While the latter will need e-commerce software that offers electronic shopping cart services, the former will need point-of-sale terminals to process purchases.

However, the majority of businesses consider the following elements when operating:

1. Method

The backbone of company operations are processes. These are the steps that must be taken for a business to survive. Any business must follow the proper procedures. It’s what maintains your output high, which raises your earnings.

It is crucial to consider how the procedure affects productivity and efficiency. A company may lose time and money due to manual operations that may be automated or that duplicate the work of other departments. Business operations procedures should be documented department by department so that operations managers can review them to identify potential areas for consolidation, cost-cutting, or enhancement. Documentation also helps with new hire training.

How many workers are required depends on the processes. How many of the duties listed in the work processes will be needed, and who will be in charge of them? A small business might only need a few generalists, but a large firm will need a lot more specialists.

2. Technology 

A team of personnel is not enough for a business; it also needs tools and equipment. These are the necessary responses to keep operations running as efficiently as possible. That could indicate a manufacturing organization has a lot of equipment and facilities. A call center may benefit from using workforce management software to more effectively roster and arrange its staff.

To this end, Managers of business operations must maximize effectiveness across the board. They must identify the greatest pieces of machinery with low breakdown rates, ethical recruiting procedures, and decreasing turnover rates.

3. Human resources

An organization’s operations include human resources to handle all required processes. Companies must make sure they have the correct employees to handle their important jobs. This might include employing people full-time. It might also require working with independent contractors and digital nomads.

4. Location

Location is more important to some business kinds than to others, and the reasons for this vary. A consultant working alone could only need a desk at home

Location frequently affects the equipment or technology needed for ideal business operations. 

Certain types of companies place a higher value on location than others, and the reasons for this differ. An entrepreneur consultant may merely want a workstation at home and will need less space and equipment than an automobile agency with a staff and numerous grooming bays. 

5. Supply Chain

For improving business operations, paying heed to supplies or raw materials is highly crucial. Therefore supply management is one of the key functions of business operational management.

Considering supply or raw materials is essential for enhancing business operations. As a result, one of the fundamental tasks of operational management in a company is supply management.

Business owners and managers need to identify the most dependable suppliers who offer high-quality products at competitive costs.

6. Quality Control

Another crucial component of efficient corporate operations management is quality control management. It guarantees the final good or service will be of the highest caliber. A manager of business operations should evaluate the finished product or service and routinely solicit feedback from customers.

The finished product must meet the standards in order for the production or operational process to be effective. One of the common techniques for quality control involves using customer feedback and learning from product flaws.

How to Improve the Efficiency of Your Business

The following are some suggestions for businesses to employ to enhance business processes:

1. Examine outcomes

The first step in improving any business operation is recognizing your current situation. Once you are aware of your situation, you can choose a route. There are a number of things to watch out for in this area.

Business milestones for a company should be assessed in a practical and useful way. Setting goals is the first step in the performance evaluation process. The company’s management should set realistic objectives with time constraints.

2. Keep Abreast with significant trends

A business should follow industry developments to get insights into how to outperform the competition.You can enhance corporate processes by looking outside. Keep an eye on your specialty as well as your performance. What are your competitors up to these days? What are the industry’s significant trends? What you’re seeking are strategies that will help you increase your efficiency and production.

In order to increase efficiency, keeping up with industry advances is another way to improve business operations

Examples of trends include the latest invention, shifting state and federal laws, and adjustments to the regional economy. The organization can find innovative solutions that improve performance with the help of current operational trends and advances.

3. Automation or simplification

If you have a better grasp of your present performance, making positive improvements is much simpler. The processes that require improvement will be obvious. After that, you can focus on streamlining those aspects of your company. This can include hiring new, different-skilled workers or automating certain processes

4. Improve the effectiveness of processes

In order to increase efficiency, keeping up with industry advances is another way to improve business operations. Management should keep an eye out for new hardware, software, and technology that could assist improve and streamline crucial processes.

These processes are the lifeblood of every business. And knowing that, we at EZAdvisory aid our clients leverage efficient business operations to drive growth.Visit us at https://advisory.equilibriumzone.org/ for more information

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Uncategorised

Four Factors that influence Business Growth

Any company’s growth is a crucial component of its success. It is what propels companies forward and provides them a cause to continue operating.

A corporation needs growth in order to thrive as well as survive. There are several ways to assess a company’s growth, including turning around sales and growing the number of consumers every day, among other metrics.

But one thing is certain: a company’s growth is influenced by a number of factors, and each of these aspects must be taken into account.

The following four factors can help you grow your business:

  1. Competition

Under the strain of competition, successful businesses flourish. They perceive competition as an opportunity rather than an impediment.

Businesses benefit from competition because it spurs them on to innovate and pursue greater standards. You perform better in business when there is opposition attempting to unseat you. You make greater use of your resources, keep a close eye on potential losses, and strive to seize the market more quickly. All of this implies that you are operating at your best capacity and that your work is effective, improving your bottom line.

As a business, you would want your customers to always seek you out rather than your competitors. 

You must be effective if you wish to outperform your rivals, you are compelled to evaluate your strengths and flaws by rivals. You would also recognize your weaknesses and devise solutions to  overcome them.

Another advantage of competition is that it encourages consumers to purchase a product. They become more optimistic as a result of the pleasant treatment and excellent service they receive. Additionally, your business will treat its consumers well since, if not, they will go to a rival.

  1. Marketing

A key approach for ensuring your company’s growth is marketing.

The success or failure of your business depends on how you sell it. A tool for creating and maintaining demand, relevance, reputation, competition, and more is marketing.

 Typically, marketing promotions aim to increase brand awareness, product and service sales, and content engagement. The benefit of marketing for your company is that it facilitates customer engagement and aids in convincing them to make purchases from you by informing them about new products.

Additionally, your business plan’s marketing strategy contributes to the creation and maintenance of demand, relevance, reputation, competition, etc.

In other words, Marketing is crucial since it enables you to present your goods and services to potential customers. 

  1. Technology

System, product, and service efficiency is increased because of technology. It assists in managing contacts and employee records, maintaining data flow, and tracking and streamlining operations. In reality, by running operations more efficiently, the company is able to save costs and expand quickly.

A company may now comprehend its operations perfectly and its future cash and investment demands thanks to technology. It greatly contributes to the saving of resources like time, which can then be used to expand its productivity and operational scope.

Technology helps your company save money by saving time, such as the hours needed to manually produce reports. Furthermore, relevant and current information makes it easier for you to spot issues and possibilities right away and take proactive action.

It also enhances decision making.

Decision making in any business is a critical process. You need technology to streamline the decision making process. There is a need to keep track of customer and market data. Technology in the form of business relevant software facilitates error free reporting. You have a guarantee of accuracy with metrics drawn from the finance, marketing and customer engagement departments.

Most of the time, technological advancements speed up workflow and offer crucial systems for information organization.

  1. Innovation

A quote by Jamie Notter – “innovation is a change that unlocks new value”

In today’s fiercely competitive environment, innovation is essential to achieving your company’s success, especially as customers become more demanding and savvy.

Innovation provides you that competitive advantage, enhancing business production, expansion, and profitability.

The foundation of long-term economic growth and prosperity is innovation.

It’s not necessary to make a discovery that will rock the globe. It could mean making small, gradual improvements throughout your firm.

Such improvements include strengthening your customer relations and sales.

If you don’t make improvements to your goods and services, you run the danger of losing clients to more creative rivals.

If you continuously innovate, you can quickly establish a competitive advantage and win your target market.

Being static over time might be really harmful to your company.

In order for businesses to adapt and face the challenges of change, innovation is frequently required. 

Here at EZAdvisory, we leverage these important factors to build data-driven strategies to Grow Businesses & Brands.

Visit us at https://advisory.equilibriumzone.org/

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Free Resources

Why Does Every Business Need A Consultancy And Advisory Service?

Consultancy and advisory services are one approach for organizations of all sizes to use flexibility and creative innovation potential to meet the challenges of emerging markets and the environment.

Because business goals fluctuate depending on a variety of factors, including economic climates, governmental regulations, and the age of the organization, it is crucial to have a qualified consultant who would take everything into account. 

A young company may focus on capital, market entry, and market research, whereas a more established company will place more emphasis on new market penetration, change management, innovation, etc.

Advisory is unquestionably essential to the success of any startup or company because it investigates and assesses every aspect of marketing efficiency.

They provide a firm with solutions by addressing its needs and modifying the corporate entity to accommodate the change that the solution entails. These modifications that a consultant recommended would enhance both individual business performance and overall business performance.

An advisory has the following benefits:

They offer an outside viewpoint on crucial topics. 

  • The thoughts
  • Viewpoints
  • Experiences

The thoughts, viewpoints and Experiences that advisors contribute to your team are diverse. They are able to objectively and via a distinct lens examine topics including long-term strategy, market trends, and corporate performance. When it comes to strategic planning, having this perspective can help to detect blind spots and problem areas.

  • They provide services for Management Advice.

They assist the company in managing important business events or in streamlining plans and operations. They will examine a company’s advantages, disadvantages, dangers, and opportunities and offer advice on how to handle them effectively. In order to get better results, he or she will also consider whether to reallocate resources .

  • They provide strategic counsel.

The highest level of decision-making that propels a corporation is strategic management. A strategic advisor can provide guidance on the best course of action and helps the company realize its short- or long-term goals. They can offer guidance on resource allocation, decisions about entering a new market, or whether to continue the current portfolio or eliminate particular departments or businesses. They assist you in revising your strategy and fostering the expansion of your company.

  • They offer Operations Advice Service

 A business’s operational procedures are essential. Business structure, standard operating procedures, procurement, outsourcing, and recruitment are all included. An advisor in this regard might offer advice on how to improve a business’ operational procedures in order to increase effectiveness. They can offer guidance on reducing expenses, boosting productivity, enhancing quality, and other topics.

Finding innovative solutions and improving the overall startup system used by business is the task and goal of advice.

They are crucial to every firm because of this.

Now that you are aware of how crucial an advisory is, visit the EZ Advisory website by clicking on this link to learn more: https://advisory.equilibriumzone.org/

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Total Business Transformation

5 Big Things Startups Are Getting Wrong About Growth

‘Growth’ is one word very synonymous with tech startups and other innovative companies! It’s expected right! Every founder and startup team is looking to kick-off, grow and drive good traction, (if they want to) raise funding and then scale big! 

Here are major things we think startups are getting wrong about growth 

  1. Not Approaching Marketing (which you think growth is all about) By Touchpoints Objectives
    Flying the next ad campaign, or getting the top influencers to hype your product or getting on the next big show is not all there is to growth. Oh definitely, they could include those things, but doing those things doesn’t guarantee growth. In the same vein, you can drive growth without doing any of those fancy marketing stunts.Other than ‘marketing’, to drive growth, you need to think 
    1. Awareness – how do I get my product to the front of decision-makers
    2. Aiding decision – How do I make sure they decide to go with me faster
    3. Easy purchase – How do I make it easy for them to buy, quickly with no itch.
  2. Getting It Wrong From The Start
    No matter how great your marketing and your team is in fact, your team is, no growth is happening without sorting the base.What do I mean by the base, 
    1. The problem you are solving 
    2. The market opportunity for that problem 
    3. The uniqueness of your solution
  3. Taking Product & Service Experience Outside of Your Growth Effort
    Product and service experience is crucially important to your growth. The real truth is, what you are offering to your customer is your product experience or service experience. If you are a food delivery app startup, does your app truly makes getting food easy?
    In fact, this is more than just your app actually e.g If you are a home cleaning startup, your app might have the best user experience, but are you cleaners nice and warm to customers? How is your onboardingdoes the users understand your offering.
  4. Not Planning for Retention
    Oh, you thought having good service is enough to retain your users? Nope. Because i had a good experience on an e-commerce app doesn’t mean I will actually come back. I mean, another e-commerce app could offer me a super good discount to try theirs.
    Carefully planning your retention ensures that your customers actually get retained. It also means you are not leaving things to chance.
  5. Not Doing Analysis Across All The Channels That Affect The Startup Growth
    If you have worked on your startup for a while, you can confirm that the speed at which things change is intriguing. What worked this month, might just not next month. Everything changes, customer behaviors, the customer wants, market landscape, new competitions coming.You can’t just afford to be too comfortable.Doing a key analysis across all the growth channels ensures that you:
    1. Perpetually drives growth 
    2. Be alert on likely customer or marketing challenges 
    3. Prepare for any surprises that might hinder growth (within your judgment, we know some things are beyond you, like the government policies or natural disasters).

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Sales & Customer Management

When Can We Say Your Startup Is Customer Obsessed?

Before we get started, what’s that popular innovative company that is known for customer obsession? 

Amazon 🙂

Customer obsession is basically obsessing with the customers, that’s easy to figure right, but in reality, it means, heavily investing to know the customers more and genuinely putting effort into delighting them. 

You will wonder, isn’t everyone building for customers, why is customer obsession a thing? 

One big blunder startups commit is to overly believe in how they believe a problem should be solved without carefully understanding how customers will prefer to interact with the solutions. 

Achieving a stage of customer obsession requires a lot of customers interaction, data analysis and most importantly a lot of experimentation.

So what do we see to let us know you are customer obsessed:

  1. You are retention oriented even at the acquisition stage
    While the acquisition is very important to even validate that you have a business at all, a customer-obsessed approach is thinking beyond acquisition numbers and actually looking at the planning out journey and experience that will result in customer retention.
  2. You are thorough about each touchpoint of your customer
    As a customer-obsessed company, you literally dream of your customers. What is their challenge and how is our product or service going to help them be better. You, therefore, organize the touchpoints thoroughly to fit this. You are not afraid to iterate till it gets there!
  3. Result based over activity-based
    Send 20 emails a month or maintain 90% feedback on any amount of email sent monthly if that means sending only 2. Customer obsessed has KPIs around result as against activity. The goal is to always make adjustments that fit the customer, in fact, ‘industry standard’ isn’t the benchmark.
  4. Involving every team in the customer experience process
    Creating amazing experiences for customers isn’t only left for the customer success team, but customer-obsessed companies have all teams involved in the process of growth. Each team knows the key KPI they need to jealousy abide by to achieve customer delight.
  5. Customer Feedback
    Customer-obsessed companies understand that the most glaring product analytics data are at their best still a guess. They consciously get quantitative and qualitative feedback from customers to merge product data to real experiences to make informed decisions when updating the product, process policies, and protocol.
  6. Constantly Analysing Customer Data Routinely
    According to this article by inc.com, up to 73 percent of company data goes unused for analytics. Most startups collect customer data then sit on it and let it gather dust. Each little trend in the purchase, usage, churn, etc needs to be carefully analyzed to understand the challenges of customers, opportunities, and threats.

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Uncategorised

HELPING YOUR CUSTOMER MAKE THE BUYING DECISION

Let’s deep dive into one of the foundations in business growth: Helping the customer make the
decision. Yes, you have a great product. Yes, customers are seeing your advertisements and
are interested in buying from you? The phrase “Take all my money and give me your product”
only happens in the movies. There is still work to convert that potential customer – business
lingo “Leads” – into a purchasing customer.

Optimize your Sales Cycle

The sales cycle is the process your business takes in the period of delivering your product to the customer, it involves several stages. Stages such as lead generation, prospecting, contact, and lead qualification, nurturing leads, making offers, countering objections, and closing deals. Different companies define their sales cycles and stages differently because of numerous factors, such as industry type, target markets, customer type, among others. These differences result in the peculiarities a business encounters in closing a deal. However, having a defining your business sales cycle affords you the opportunity to:

● Easily train new sales reps.
● Provide sales representatives with a structured roadmap in closing deals.
● Structure your sales team rightly, assigning the best fit to each step.
● Stay on top of team performance
● Optimize team performance, using the KPIs here to deliver a better sales cycle month on month.

If your company has a sales cycle that lasts less than a month, then you have a short sales cycle. On the other hand, if your company’s sales cycle takes more than twelve months, you have a long sales cycle. Ultimately, the key is the goal of a salesperson should be to minimize the cycle time as much as possible without sacrificing the rapport with the prospect.

Don’t Overwhelm Customers with Options

Marketers often believe today’s consumers as web-savvy, refined individuals who pounce on whichever brand offers the best deal. Marketers believe that brand loyalty, is gradually fading, this is the reason why they inundate customers with their messaging, believing that the more interaction and information provided, the better their chances of holding on to these increasingly distracted and disloyal customers.

From the customer point of view, the increasing volume of marketing messages isn’t validating, rather it’s overwhelming. Customers feel pulled in a million different ways by marketers’ relentless efforts to engage. Research now shows that there can be too much choice; and when this occurs, customers are less likely to buy anything at all, and if they buy, they are not satisfied with their selection. A confused mind does not order. Effective communication needs to be engaging and easily understood, the customer must be able to visualize your message so they can relate to your product. Limit the options presented to the customer to three or fewer, and then help them in the decision process. A prime example is a comparison between the Google homepage and Yahoo homepage. Google is the number one visited site on the internet, yet they’re still able to limit their homepage to a single action: Would you like to search the internet? While Yahoo’s homepage isn’t. It is not search emphasized neither is it news emphasized. Everything is loaded onto one page; the result is too many options. Which do you visit the most?

Guide the Customer Through the Process

The stages of the buying process, as earlier stated, varies with business type, however peculiar your buying process is, you have to guide your customers through this process. Here are four (4) typical stages of the buying process and how to guide the customer to choose you.

● Need Recognition: A customer enters the buying process by recognizing his/her need for a particular item. They are aware of this pain point and casually begin to look for topics about their pain point. To guide the customer, at this stage, you need to write an informational post about the pain point your product solves. Blog posts, guest articles, information, etcetera are an example of material you post where customers and
everyone spends most of their time online. That is, get your solution in front of the target audience.

● Information Search: during this phase, the customer actively searches for more information about the pain point and how to solve it. The customer performs search and visits reviews sites to learn more. At this stage TOFU content is advisable, content
similar to the need recognition stage above, such as blog posts, infographics, lists, guides, etc. however at this stage you implant important keywords into your content.

● Option Evaluation: During this stage customers evaluate the options they’ve learned about to determine which is the best solution for their problem, i.e., they already have an idea about the solution they need. They just don’t know which specific solution/brand is best. The brands that present the best offer in their opinion are what they would go for. To catch consumers in this phase, you need to engage in MOFU marketing and optimize your website so customers can find your best offering easily when they visit. Create content like FAQ pages, landing pages and buying guides on your website.

● Purchase Decision: This is the stage where the customer is ready to pull the trigger, they
have chosen the brand to go with, and the offer that best suits them. All the research
they’ve made had led to one point, that is, you. How do you help them during this
phase? Clear the pathway to make the purchase, simplify the buying process, including
testimonials and reviews that reinforce their belief that they are making the best choice.
Remove bugs in the cart and checkout process, also optimize your website to target
buyer keywords.

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Uncategorised

Getting your Feedback System Setup

Most people get it wrong that feedback collection is reserved only for multinational corporations
and governmental agencies, who usually set it up because it is required by the law. Most
businesses pay lip service to customer welfare only by celebrating the customer service week in
October.
Feedback collection is a double way street, your customer gets to express themselves about the
interaction with your business, and you get first-hand information on the effectiveness of your
business.
Customer feedback is the information provided by your customers about their satisfaction or
dissatisfaction with their experience with your brand, service, or product. Listening to the voice
of the consumer allows you to be quick to change in the business arena, and be able to stay
ahead of the competition.

1. You will be able to improve your product or service. Aftermarket research and introduction of
your product, you need to keep a constant eye on the acceptance level of your product over
time, feedback helps in this regard as it keeps you abreast of consumer opinion and answers
the question of whether your product still solves customer needs.

2. Feedback helps you gauge customer satisfaction; customer satisfaction relates to a lot of
company financial details. A high customer satisfaction grants you a high market share, which in
turn results in high revenue for the company. A simple customer satisfaction gauge of 0-10 is a
reliable metric that estimates consumer loyalty and retention to your brand which helps predict
the company’s future financials.

3. Feedback shows the customer you value their opinion, and include them in the business
process. customers will know that you are in business not only for the financial remuneration but
also for the welfare of your customers. Communicating with your customers through feedback
builds a relationship that keeps your customer loyal to you, as one of the co-builders of your
business, when they see their opinions molding your product.

4. Feedback helps create the best customer experience, satisfied customers with you and you
will be able to use your loyal customer reviews to market to other potential customers. Apple
and Nike have been able to build a reputable brand because their customer experience and
loyalty bring in more customers.

5. Feedback gives you data to help in making business decisions, basing business decisions on
guesses is no longer expedient in this highly digital and competitive world. Customer insights
will help you understand market direction and predict market changes. Your product
management will improve and be more responsive using customer feedback.

Method of Getting Feedback
1. Surveys
Surveys are one of the great ways to directly ask customers for information. Surveys are either
open-ended or close-ended. There are several questions you could ask your customers. Survey
forms are one the best ways to gain customer feedback, free survey services are provided by
SurveyKing, Qualtrics among others. For the best responses, your survey questions should;
Only ask questions that target your goals
Use open-ended questions
Avoid leading questions.

2. Feedback Boxes
A feedback form/ box is a reliable method to gather customer feedback, a feedback form is an
easily accessible tool customers can utilize to give feedback. Minor issues that your survey
question might overlook would be captured by a feedback form. You should constantly check
the feedback box and make sure every feedback gets a response within 24 hours. For bugs and
technical issues, make sure your engineers respond to the issue and advise the customer on
how to resolve the issue.

3. Social Media Feedback
Social media is one of the best ways to get prospects and customer feedback. Reaching out to
your followers to get feedback is a way to see the responses to your product. Monitoring your
brand name mentions gives you the ability to quickly react to customers’ needs and deliver
value, quickly resolve customers’ negative feedback and, also improve your overall content and
communications strategy. The issue with social media feedback is the bandwagon effect on
either positive or negative feedback, therefore you must always be responsive on your social
handles to respond to negative feedback.

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Uncategorised

Ways to Increasing your Brand Awareness

Increased brand awareness is a crucial task for companies with an established position in the market. Brand image can be a deciding factor for your target audience. Competition is fierce, and grabbing the attention of your potential customers is vital for your business to thrive.

Brand awareness is the level of recognition a brand has among its target audience. The levels of brand awareness answer the question – how familiar is your target market with your brand? Brand awareness is one of the major assets your brand can build. High levels of awareness can increase the value of your product or service. Building brand awareness builds competitive advantage and impacts marketing and overall business performance positively.

For example, Coca-Cola’s Coke is often used as a synonym for soft drinks, no matter the producer. This shows the level of the association the target market has for the particular product. This strong level of association builds trust in a brand and trust results in the customer capital of the company.

These are some of the different ways to increase your brand awareness.

  • Social Media Advertising

Social media is the marketplace nowadays, it is normally a place where you promote your products, but it is a great avenue to increase your brand awareness in a widespread and effective manner. A part of this process is inviting influencers, influencers who have established an audience that trusts them can increase your brand awareness when they mention your brand in their content.

A good social media awareness building method is posting valuable content and including your brand name in these contents, by this people will associate your brand with valuable content and during discussions, your brand name will come up. Another is to provide freebies on your social media pages, free stuff drives people and potential customers to your brand. On a final note, craft your own social media hashtag that can easily be associated with your brand, your hashtag will help in propelling your brand.

  • Co-Marketing  

Co-marketing is a brilliant method to increase your brand awareness, as it takes advantage of another brand awareness. This way both brands will have greater outreach in reaching potential customers. An aspect of leveraging on another brand is delivering valuable content on popular brands’ blogs. Guest posting is a way to get your name into the public sphere of your industry. Local partnership is a strategy that will help push your brand image, join other businesses in seminars, festivals, donate to a charity event, or sponsor a local event in your location having your brand widely publicized therein, all these are sure to move your brand to recognition. Contact both online and offline magazines, news sources, or other publications to see if they’ll publish your content (it is sure the response will be positive if your content is valuable enough). By this means you’ll open your brand to the audience of these publications.

  • Creative Identity

Craft a unique identity for your brand, create a superb and compelling story around your brand, this will make people connect deeply with your brand.

Interact your followers on the social media space, post content that lets your followers drop comments, engagements allow your followers to remember you and drive more followers to your brand. Give your social interactions the personality of the identity you’ve created, with this people can easily associate the identity with your brand. Oftentimes infuse humor into your interactions.

Hire a recognizable face for your brand, this allows you to humanize your brand, think of Heineken and the 007 brands, Nike and Michael Jordan. Otherwise, you can create a mascot for your brand, mascots will give life to your logo, for example, MailChimp uses a Chimp named Freddie, Reddit uses a character named Snoo.

Making your product exclusive is one of the ways to create a unique identity around your brand. You could offer exclusive deals to your customers, and discounts for referring other customers, or you give them bonus content that they can brag about.

Other avenues to increase brand awareness is through:

  • SEO Advertising
  • Branded Packaging
  • Catchy Slogan
  • Surveys
  • Referral Programs

Would you like to explore avenues to increase the brand awareness for your business, reach out to us here

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Communicating your Unique Value Proposition

Your Unique Value Proposition (UVP) is a short, but clear message to inform your customers about the uniqueness of your product, and why they are better choosing your product over others. Your UVP is not a slogan but a marketing strategy in selling your brand.

TARGET CUSTOMERS: Know your customers, your unique value proposition is speaking to your potential customers, therefore you must know who they are, their buying preferences, their goal, their challenges, fears, and how you help them solve these things. Not everyone is you customer, you should have an idea of who your ideal customer is, the age range, economic status, their preferences, these will help in crafting a statement that resonates with them.

TRACK YOUR CUSTOMER NEEDS: Customer needs changes frequently, and the way customer A interacts with your product surely differ with the way customer B interacts with your product. You have to keep track of all major ways your product is consumed. This way you can communicate the importance of your product to other potential customers. By keeping track of your customer needs you will get notified quickly of changing customer needs and apply the necessary pivot where necessary to remain relevant.

YOUR OFFERING: Know your products, its benefits, its uniqueness, and peculiarities. Craft your offering into a one or two sentence statement and know it by heart, your team must also know this statement. The statement must be direct and clear, and be on your advertisement, and wherever your potential customers can see it.

PROOF OF CONCEPT: After knowing what you offer by heart, you must be able to proof how it works, who it has worked for, and the potential benefits your customer gains from utilizing your product. If you do not have a previous customer that can serve as a relevant example, use examples from a similar industry but a different geography that such product has produced the desired result.

AVOID UNNECESSARY ADDITIONS: After getting to know the customer needs, make the important need your main selling point, this is what you advertise to the customer segment you are targeting. That is, each customer segment gets the tailored advertisement, avoid noise, when your research is perfect your customers will relate better to your product. KEEP ADVERTISING: Let me end the newsletter with the title of a movie: “Never Back Down”. You don’t stop advertising. Why? You may ask so as to keep your sales funnel full, there are over 7 billion people worldwide, there is surely someone who hasn’t heard about your product; therefore, you keep advertising.

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