Should You Be Focusing On Online Or Offline Marketing?
September 17, 2017
While online and offline marketing share many of the same principles, they do have different approaches and produce different results. When you own a business, you need to consider if you should be focusing on online or offline marketing. There are a number of points that you should consider when determining this.
The Reach Of The Marketing
Online marketing has a greater reach than offline marketing because anyone with the internet will be able to access this. While this increased reach might seem like the best solution for your business, you have to consider who your target market is. If you are looking to only connect with people in your local area, international online marketing will not be the best solution.
When looking at the reach of your marketing, you also need to consider the age bracket and profession of your target audience. Younger people tend to respond better to online marketing, while other people respond to traditional offline marketing. It is important that you keep this in mind when you choose a marketing method.
The Costs Of Marketing
If you want to have success with offline marketing, you will generally have to spend a significant amount more than you would for online marketing. Online marketing is generally more cost-effective which is important for businesses with small marketing budgets. Offline marketing generally combines radio, TV and print adverts where you pay for visibility. The larger the print advert or the better the timeslot of your TV advert, the more it will cost and you could blow your entire budget on a single advert.
The cost of using online marketing methods will vary depending on the method you use. If you are looking at SEO, your costs will primarily be related to hosting and website design. You can create a viral post without any monetary outlay. However, if you are looking at paid advertising you will need to pay, but this amount varies depending on the platform and the parameters of the advert.
Conversion To Sales
All of the marketing that you complete is looking to convert visits or exposure into sales. When using online marketing, it is often easier for customers to see your advert and then buy your product or get in touch with you. Online advertising helps with impulse decisions as customers generally take the first steps to buying when they click on your advert.
Offline marketing works differently as the viewer will have to take the time to search for your company or visit your physical store. This generally gives them time to think about the purchase and they could decide not to follow through with the purchase. This is why many marketers look at combining some form of online ease of access with their offline marketing.
Online marketing also has the advantage of boosting engagement with your customers. If you are targeting a younger demographic, this is important because research has shown that they are more likely to buy from brands that engage with them online.
3 ways you can retain your existing customers
June 8, 2017
People are racing to get new customers for their business. But you shouldn’t forget that your existing customers. You should try to retain them as it is cheaper than getting new ones. With existing customers, you have earned their trust already. They have spent money on you and will be willing to spend more if you can take care of them properly. Here are three ways you can retain your existing customers.
If you have a product or service that satisfies the need of your customer, then the customer will consider buying your product or service before going anywhere else. So, once you have a customer for your product or service, you can upsell. For example, if they have booked an online course with you, then you can offer them other courses that are related to the previous course.
2. The loyalty program
You can start a loyalty program. You can give some good rewards to customers for joining your loyalty program. This way your customers won’t go to your competitors and stay with your company for their needs.
3. Customer service
Providing good customer service is very important for a business. It’s required for a business to grow and increase customer base. It is also important for retaining existing customers. You should provide satisfied service to your existing customers all the time to retain them.
These strategies will help you to retain your existing customers. Having lots of loyal customers will improve the brand image of your company and more people will be interested in your brand.
4 ways to stay competitive in the market
June 8, 2017
The competition is fierce now. Businesses often find it hard to deal with competition. But competition actually improves your performance and takes you to a new level. Here are some ways you can remain competitive.
Don’t copy others
You shouldn’t copy others. You should go down your own path. You should try to implement your ideas and not that of others. Your competitor may have a high budget and lots of employees. You might not have a good budget, so the competitor’s strategy won’t work in your case.
Don’t ignore competition
You should keep track of your competitors. They may come up with products that are better than yours. You should then try to improve your product or service and become better than them. Keeping up with the competition can improve the quality of your products or services.
Don’t underestimate your competitor
We usually think of the big competitors. But the small competitors can even beat you in the competition. They can outperform you and get a bigger customer base. You shouldn’t underestimate the small competitors.
Don’t use any unethical means
The competition will always be there in business. That doesn’t mean that you have to get dirty to survive the game. You shouldn’t do unethical things like stealing your competitors’ list. You should be honest always.
There will be always competition in business. You shouldn’t give up or be disappointed. You must take competition positively. Competition can help you to be better at your business.
Top 4 reasons to diversify your workforce
June 8, 2017
Diversity is required in a company. Diversity can build a better consumer brand and improve the performance of your employees as well. Here are some of the reasons why you should diversify your workforce.
Bilingual workers increase productivity
You should add people of different backgrounds in your workforce. This will increase the chance of having employees who speak multiple languages. Bilingual workers can earn 10% more every year than those speaking only one language. A bilingual employee can negotiate better with clients. It is possible to increase client base with the help of bilingual workers.
They are more productive
When the workforce consists of a diverse group of people, they will know new ways of tackling problems. You will have a more productive team this way. You should separate men and women evenly and get better results.
They are more creative
Diverse teams are more creative. New ideas will be generated from people of different backgrounds. Creative teams will produce better results and boost your branding.
Helps to avoid lawsuits
There is discrimination in many workplaces. By hiring people from various backgrounds you can lower your chances of being accused of any kind of discrimination.
Many companies are adopting this strategy of hiring a diverse group of people. It is proven that companies become more successful when the team consists of people from different backgrounds. If you own a business, you should also make up a team of a diverse group of employees to be more productive and successful.