Tag: marketing

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Marketing

5 Powerful & Affordable Local Marketing Strategies to Grow your Business!

local-marketing

Whether you are running a company worth a million dollars, a small business owner, an entrepreneur, or a solopreneur, marketing is necessary for every product or service. But, small or local business owners probably lack financial resources that are significant to advertise products in the niche market.

However, marketing can be done even with just a shoestring budget. Yes, you heard it right! Any marketing strategy will yield perceived impact, as long as you know how to implement them effectively. Having said that there are many local marketing strategies, which are quite cost-effective and very impactful.

One thing that every business owner must take into consideration is that not every marketing strategy will be suitable for your business. Hence, you must be aware of customer behavior, your competitors in the market, and your niche market.

You must pick your marketing strategy with caution, considering your budget and lack of luxury to do a marketing do-over.

To make it all easy for you, here are 5 inexpensive local marketing strategies for your business:

  1. Creative Packaging

Creativity can help you find solutions to overcome challenges. Creative packaging can be an excellent marketing stint. It does not necessarily have to be an expensive one, but it should catch the attention of your customers. Hence, don`t be afraid to think out of the box!

  1. Sponsor Local Events

If you are an entrepreneur or a new start-up, local events are the best place to make your brand a presence. Small local events are sponsored by multiple brands. Each brand pays only a small sum of money to get featured on the list of sponsors. Find out the upcoming local events and get associated with the ones that will help you target the right set of audiences.

  1. Use the power of Social Media

Social Media in today`s world is an impressive way to make an impact on your customer base. Instead of selling your product or services, educate your audiences. Tell them how a particular product will solve their burning problem. Build a stronger relationship with your customers that will help to establish your credibility and trust.

  1. Effective Promotional Schemes

With cut-throat competition in the market, brand promotion is extremely critical. If you are planning to introduce a new product in the market, you need people to try out your service or product. It is always a good idea to offer free samples and trials to ensure your target customers can experience your services first hand.

  1. Take Customer Feedback

Retaining an existing customer is always cheaper than getting a new one. Hence, before you think about buying a new client database to churn out a new marketing strategy, use your existing customer database constructively.

Customers are happy to give honest feedback on the products and services they have paid for. With an engaging feedback process, you can make your customers feel valued and learn the multiple ways of improving your business.

Marketing strategies need not be expensive, rather creative and effective! Unlock your business`s true revenue potential with our aforementioned local marketing strategies and a lot of deep business insights with our Everything About Entrepreneurship (EAE) program.  Visit https://www.badabusiness.com/?ref_code=ArticlesLeads. Click now!

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Startup

Planning to Start Your Own Business in 2021? Follow These 5 Rules For a Successful Start-Up

Tips to follow for successful start-ups| Representational Image (Photo Credits: Pixabay)
Tips to follow for successful start-ups| Representational Image (Photo Credits: Pixabay)

The Indian start-up ecosystem is blooming, with more and more individuals giving up their regular jobs and taking the path of entrepreneurship. As per the Economic Survey for 2019-2020, India now ranks in the number of new firms created annually. Quoting the data from the World Bank, the survey concluded that number of new firms in the formal sector has grown by a significant 12.2 per cent between 2014 and 2018, compared to a meagre growth of 3.8 per cent from 2006-2014.

From idea generation to implementation, starting a business takes a lot of efforts, dedication and perseverance. A start-up founder should be extremely careful while making entry level decisions as the initial success of the business depends upon them. Having a business of your own does look like a Herculean task, but with proper research and guidance, starting, surviving and being successful in the business is not impossible. Being a Solopreneur: 5 Business Tools to Grow your Business.

Here are Five Golden Rules Every Entrepreneur should follow to Make the Start-Up a Success: 

Undertake Market Research and Analysis

The first and foremost rule of any business is to properly research the market. This includes analysing the market demand, competition, price range, and channels of distribution among others. Understanding customers’ taste and preferences is also an essential pre-requisite of launching a product or service. Analysing the market trends and patterns help the entrepreneur to make informed decision and deal wisely with external environment challenges. 7 Powerful Marketing Ideas to Boost your Business in 2021.

Ensure Constant Funding

A start-up needs steady and committed sources of funding to establish itself in the market. Many start-ups shut down in the initial years owing to lack of finance. Before jumping into the market, the entrepreneur should ensure that the business has adequate source of funds and have an access to a regular stream of finance. Various private and public sector banks, venture capitalists, angle investors, government grants are among secured source of finance for start-ups.

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Devise Comprehensive Marketing Strategy

For a business to establish itself in the market, it needs to be visible to its potential customer. Marketing and advertising helps the start-ups to increase its reach. Entrepreneurs should carefully choose their marketing plan and advertisement campaigns. Ads should convey real vision of the business and create a positive image in the minds of the people. Efficient marketing policy also helps in generation the ‘want’ for the product among the potential customers, thereby increasing sales and profits.

Know Your Customers

It has been rightly said and preached for generations that ‘Customer is the King.’ Every entrepreneur need to believe and follow the same. Knowing the customers in extremely important as their attitude, preference and tastes effect the business’s offering. Start-ups should avoid indulging any activity that might upset the customers. Businesses should understand the overall society as well, the cultural and social environment also effects the functioning of the start-ups.

Comply With Legal Requirements

In order to undertake various operational and production activities without any hindrances, businesses should make sure that they comply all the legal requirements. There are various legislations that govern any business, to avoid any penalties or fine, entrepreneurs should make sure that all laws are abided by. These include laws related to incorporation, labour, product, customer safety among others.

Apart from these, entrepreneurs should also focus on sticking to the budget, garnering knowledge about the various aspects of business. Start-ups also need a strong and dedicated team of employees to achieve its goal. Starting a business is indeed a big and courageous step which requires perseverance and dedication. However, with proper knowledge and hard work establishing and succeeding in business world is not impossible.

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Business motivation

Being a Solopreneur: 5 Business Tools to Grow your Business

tools to grow your business

India has shown a great appetite for innovative ideas, small businesses, data, technology, and the internet. According to the Economic Survey for 2019-2020 that refers to the data from the World Bank, ‘the number of new firms in the formal sector has seen growth by a significant 12.2% from 2014 to 2018.’

“Around 70,000 new firms are created in 2014, the number has increased to 1, 24,000 new firms in 2018, which is around 80 percent growth,” the survey read.

So how can you grow your business in such a competitive environment, if you are a Solopreneur?

Becoming your boss is exciting, yet scary! You get to call your shots, make your own decisions, and work at your convenience. However, wearing multiple tasks at the same time can be a bit overwhelming.

But, no matter how overwhelming it may sound, with the right kind of tools, you can grow your business significantly. Technology is here to build your business and run it smoothly even if it means running it by yourself.

With the right strategy & tech- tools for business growth in your arsenal, you can manage your business easily. Here is a list:

  1. Manage your Time Efficiently

Having a game plan or your to-do list ready can do wonders for your business. Begin your day with realistic and achievable day-to-day goals. You can keep all your daily tasks scheduled in advance with the help of Google Calendar. To keep your to-do list updated, use apps like Evernote and Todoist. These business tools can help you manage your tasks for the day.

  1. Automate to Save Time

Time is money! If you want to save some, you will have to come up with smart marketing & growth-strategies to expand your business operations. So as much as you would love to do everything on your own, you can`t be everywhere at once.

E-mail marketing is essential for a Solopreneur, especially when the business is at the initial stages. However, one way in which you can attain all your objectives is to make use of automation. Automations make sending welcome e-mails, product recommendations, abandoned cart reminders, and even wishing your customers “Happy Birthday” less time-consuming.

  1. Know your Customer

It is always a wise thing to keep tabs on the playing field and your competition. Start with consumer behavior and competitor analysis to see where you stand. This is an excellent growth-strategy that will unfold the hidden gaps as well as the opportunities for you.

  1. Grow a Network

In today`s world where networking can work like a charm, do not shy away from growing your network. Start building your network by attending business events and meeting others from the same industry.

You can also grow your customer base by keeping a database of your customers. Provide them with a personalized experience to attract more customers via word-of-mouth.

  1. Go Online!

Design a business website and build its social presence by using digital marketing techniques and social media platforms. By using social media platforms, you can increase the reach of your brand locally and globally as well.

While you may not have a staff being a Solopreneur, you can still run your business like a pro! However, it could be a little difficult. Without a team to delegate tasks or an excellent business strategy, how can you make sure you’ve got everything covered?

With Bada Business you can find answers to all your queries with our Problem Solving Courses specially designed for Solopreneurs. Our courses will help you with many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads  to know more about our Problem Solving Courses.

For more details, visit https://www.badabusiness.com/?ref_code=ArticlesLeads

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Strategy

Year End Sales Promotion: 5 Strategies to Increase Your Sales As We Say Goodbye to 2020

Promotional strategies to enhance year-end sales| Representative Image (Photo Credits: Pixabay)
Promotional strategies to enhance year-end sales| Representative Image (Photo Credits: Pixabay)

The year 2020 has been quite rough on businesses with the COVID-19 outbreak and subsequent lockdown may firms found it hard to stay afloat and cover up their daily costs. However, the good news is the troubled year is ending soon. The year-end doubled with Christmas celebration and holidays is a gold period of businesses. This is the right time to attract as many customers as possible and make up for the lost sales. Various firms launch many offers to promote their businesses at this time. The market is filled with high-spirited customers who are willing to spend enough providing a perfect opportunity for the businesses to capture it.

Businesses, online as well as offline offer huge discounts and attractive offers to divert the attention of the customers to their products and services. According to market surveys, many entrepreneurs feel that it is the right time to introduce a new product in the market. Here are some sales promotion strategies you should follow to reap the benefits of year-end shopper bloom –

Festive Themed Promotions

One of the easiest ways to increase sales in the year-end is to bank upon festive themed sales promotion offers. Adding the festive, seasonal sentiments to the marketing mix helps to connect easily with the customers who are themselves engulfed in the celebratory spirit. Grabbing their attention and making an association becomes easier.  Firms can run a holiday-themed giveaway, offer branded mini games such Christmas puzzles, bingo and other board games. Online businesses can also create a virtual advent calendar like highlight products daily, daily discounts etc, they can also install holiday-themed geo-filters to attract customers to their social media handles.

Product Combination Offer

Another way to attract customers is through providing them quantitative benefits. Go for Buy One Get One Free schemes or offer discounts on buying more than two products. Such product combination also works for unrelated items, for instance on buying a cosmetic product give a ready to eat food package free. Such offerings have dual benefit; one being the obvious customer attraction and other is that will comparatively cost less. Business can lure more customers into buying products by coming two or more products and offers a discount on the same. Use phrases such as ‘Exciting Offer’, ‘Offer you Can’t Resist’, ‘BOGO’, among others to attract customers.

Gave Away Free Gifts or Redemption Coupons

One of the key attractions of Christmas is giving and receiving surprise gifts, businesses should use them as a part of their year-end promotional campaign. No one resists a free gift, especially during festive season. However, firms should carefully determine the value and quantity of products they can afford to give free of costs. Ideally business should set a lower limit for such free of cost offerings. For instance give away a free gift worth Rs 500 on a purchase more than Rs 5000. Another strategy is to provide redemption coupon on purchase.

Contests and Lucky Draws

Customer participation is a great way of sales promotions. Organise contests to encourage participation of potential customers. Various cafes and youth centric businesses may organise Christmas themed treasure hunts. Quizzes, jingle making, logo making among others can also be undertake to catch customers’ attention. Various competitions, like best Christmas tree, best decoration, and best outfit can be organised on the social media pages on the businesses. Firms can also organise lucky draws to attract more and more customers.

End of Year Sales/Discounts

The most tried and tested way of getting customer attention is by organising sales – year end sale, stock clearance sale, winter sale, Christmas sale among others. By providing huge discounts, businesses can make up for the lost turnover over the year. It helps the firms to clear their old stock at the same time provide some earning. Use phrases like  ‘Now or Never Sale’, ‘Time is Running Out,’ ‘Buy When You Still can’, ‘Once in A Year Offer,’ ‘Get Over 2020 Blues’, to attract customers.

Sales promotion is an important part of the marketing mix and has proven to be beneficial for the firm in increasing their turnover and earnings. Given the year-end shopping spirit doubled with appropriate promotional tactics are bound to generate good revenue for the firm.

 

 

 

Categories
Startup

Makeup Artist Business: Here Are 4 Things Which You Need to Remember If You Want to Establish Your Makeup Artist Career

Makeup artist
Makeup artist business (Photo Credits: Needpix)

Mumbai, November 26: The beauty industry is constantly growing and evolving. Every day new trends are emerging, and therefore, this is an extremely exciting space for those who want to establish a career in becoming a makeup artist.

There are certain things which need to be remembered if you want to establish yourself as a makeup artist.

Make a business plan: Chalk out a business plan, where you will have to ask yourself who will be your customers and the what kind of makeup services you will provide. At this stage, also assess the budget and the expenses that you will have to make in order to establish the business.

Learn good make up: Remember, it is a very competitive field and thanks to several tutorials available online, consumers today are well-informed of the latest trend. It is very important to hone your skills.

Marketing: In today’s age and day, the majority of your customers will find you on social media. So it is very important to be present on all the platforms where your competition is there. Highlight your skills and market it well.

Create a relationship with your customers: Makeup business is about creating a bond with your customers. It is very important to make them satisfied with your service. Post which, they will share it on social media and share their experience with their followers on the online forum. Make them feel special, add something extra and customise as per their requirement.

 

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Business motivation Startup

Catering Business in India: 6 Quick Tips to Boost Sales, Attract New Customers & Stay on Top of Customer’s Mind

Catering Business
Catering Business (Photo Credits: Pxfuel)

Mumbai, November 23: If you have a knack for cooking, experimenting with different ingredients and a taste bud which appreciates different cuisine, a catering business can be a very profitable idea for you. However, this business is more about just food and ingredients. It requires great business skills, organisation planning and creativity.

We have curated 6 quick tips which you can use in your every day catering business to improve sales.

Have a business plan: Finalise on a business plan, where you need to decide your catering business will specialise into which kind of cuisine and what would be the highlight.

Stick to quality food: It is very important to feed your customers not only good but tasty food, this will make them come back to you again. Use good ingredients, where the health of the customers are not compromised. Innovate on the menu as people love to experiment and try out different things.

Make Your customer happy: Catering business till today works on the basis of word of mouth. If customer A is happy with your food and service, he will surely spread the word to two other people and therefore, it is very important to make your customers happy. Not only the food, but the service should also stand out.

Take care of hygiene: Keeping the COVID-19 crisis in mind, it will be a big challenge for caterers to present themselves in such a manner so that people can have their food without any tension. Look after the hygiene and sanitise all the food items and utensils frequently.

Offer competitive pricing. Remember one thing that your pricing should be such that it matches with your competition. If your price is higher than your competition, then your food and service should offer something more than what others are not giving.  Profitability is important in any business, so it doesn’t make sense to drop your prices to the point of losing money.

Market your business: In order to reach out to your prospective customers, it is very important that your market using both the online and the offline mediums. Make an attempt to always stay on top of the mind of the customers.

We hope these simple steps will help you focus and will reap success in your everyday business.