Sunil…congratulations on being a small business owner. Your site is beautiful. If you can successfully carry that look and feel throughout your organization, you’re going to be way ahead of your competition. I am worried, however, about one comment: you wrote “its tough to do everything AND sell your product at the same time.” Doing everything is what sells your product. (Don’t confuse that with being all things to all people:)) That’s what often keeps businesses from being successful…they seperate sales and brand, as if they aren’t related. 13 Tips On Entrepreneurship, Marketing & Branding By Daymond John | Advice For Small Businesses
Point-of-purchase marketing strategy includes placing your product where customers make the most purchase. You must have noticed that many small products are being placed near the cash counter. This is done intentionally so that people make an impulse purchase. In addition to this, you must have experienced cashier who tried to sell your product. This is another example of POP marketing.
This book is a must-read when choosing a brand name. The author claims that anyone can create a memorable and noteworthy name using a few basic rules. Practical tips include advice on how to make sure Siri spells your name correctly – a must with today’s tech savvy world. The author includes titillating examples of brand naming gone wrong as well as names that do a great job representing their brand.
Growing a business isn't easy. First, you need a viable idea. From there, you need to discover a profitable niche, define a target demographic and have something of value to sell them. Whether you're peddling products, services or information, getting the word out has become increasingly burdensome. And without the right marketing strategies to fuel your growth, churning a profit and staying afloat is virtually impossible.
Are you looking to channel all things clean, clear and natural? Well, be sure to check this set of templates out. With a mix of italic, bold and regular serif typefaces, this template creates a classic and clean effect that looks beautiful when paired with a textured image. An ideal template for any business looking to combine elegance with all things natural and calming.
Market pioneers are known to often open a new market to consumers based off a major innovation. They emphasise these product developments, and in a significant number of cases, studies have shown that early entrants – or pioneers – into a market have serious market-share advantages above all those who enter later. Pioneers have the first-mover advantage, and in order to have this advantage, business’ must ensure they have at least one or more of three primary sources: Technological Leadership, Preemption of Assets or Buyer Switching Costs. Technological Leadership means gaining an advantage through either Research and Development or the “learning curve”. This lets a business use the research and development stage as a key point of selling due to primary research of a new or developed product. Preemption of Assets can help gain an advantage through acquiring scarce assets within a certain market, allowing the first-mover to be able to have control of existing assets rather than those that are created through new technology. Thus allowing pre-existing information to be used and a lower risk when first entering a new market. By being a first entrant, it is easy to avoid higher switching costs compared to later entrants. For example, those who enter later would have to invest more expenditure in order to encourage customers away from early entrants. However, while Market Pioneers may have the “highest probability of engaging in product development” and lower switching costs, to have the first-mover advantage, it can be more expensive due to product innovation being more costly than product imitation. It has been found that while Pioneers in both consumer goods and industrial markets have gained “significant sales advantages”, they incur larger disadvantages cost-wise.
According to Porter, these strategies are mutually exclusive and the firm must select one approach to the exclusion of all others. Firms that try to be all things to all people can present a confused market position which ultimately leads to below average returns. Any ambiguity about the firm's approach is a recipe for "strategic mediocrity" and any firm that tries to pursue two approaches simultaneously is said to be "stuck in the middle" and destined for failure.
As your company grows, listen to how your customers perceive you. Let that continue to define your brand. Make sure you read every single comment, review,and piece of feedback you get from your customers. If what they are saying doesn’t align with what you think your brand is, maybe it’s time to go back to the homework questions we assigned at the beginning of this blog. THE THREE BEST MARKETING STRATEGIES | DailyVee 216
If you are looking to build a lasting brand and a growing company, this is something you definitely want to think about creating. Imagine having to retrain 20, 30, or even 100 employees in “your style”, “your voice”, “how to write blogs”; a style guide can save you time and keep your brand consistent. We love this brand style guide example from MailChimp.
David, there is a difference between the logo and the overall website design. This site is a perfect example. We basically don’t have a logo, but because there is valuable content in an easy-to-read layout, people keep coming back. The overall design of your site reflects how in touch you are with current trends and technologies. If you’re still using frames, tables and animated spinning logos, you’re out of touch with current best practices and that reflects badly on you – regardless of what the logo in the corner looks like. Your business logo typically has little to do with your website design. It may influence the color palette and in rare cases be the inspiration for certain design cues – think of Coke’s swoopy logo and integrating a swoop on the page – but your logo doesn’t dictate the layout, technology or usability. Branding Basics: Making Your Business Stand Out
In a tough and competitive market, your startup simply cannot exist for a long time unless customers trust your company. Branding is all about building the trust for your products or services among your target customers. There are already many brands in your target market. So, creating a unique brand that stands out requires you to have branding ideas that are special.
Pixels track everyone who comes to your site, and you can build custom audiences around them. For example, if you post content about how to learn to drive a semi-truck, and you track visitors with pixels, you can then market truck driving certification to people who have already shown an interest in that already because they visited that specific page. And your conversions will skyrocket. The first secret of great design | Tony Fadell
Barney stated that for resources to hold potential as sources of sustainable competitive advantage, they should be valuable, rare and imperfectly imitable. A key insight arising from the resource-based view is that not all resources are of equal importance nor possess the potential to become a source of sustainable competitive advantage. The sustainability of any competitive advantage depends on the extent to which resources can be imitated or substituted. Barney and others point out that understanding the causal relationship between the sources of advantage and successful strategies can be very difficult in practice. Barney uses the term "causally ambiguous" which he describes as a situation when "the link between the resources controlled by the firm and the firm's sustained competitive advantage is not understood or understood only very imperfectly." Thus, a great deal of managerial effort must be invested in identifying, understanding and classifying core competencies. In addition, management must invest in organisational learning to develop and maintain key resources and competencies. A Beginner's Guide to Branding Your Business